Venture Link is an initiative to help pension funds to boost their investment capability, support them as they develop their strategy, reduce barriers to investment and help to unlock billions more in long-term investment for UK science, technology and innovation.
Venture Link provides an online portal to give institutional investors direct sight of the Bank’s LP investments and opportunities that the Bank has backed that are open to investment.
The UK is the third largest venture capital market in the world, and the British Business Bank is the largest investor in UK venture and venture growth funds, having invested in more than 150 funds. We are leveraging our scale and networks to seek to help pension funds increase allocations to UK venture capital, by improving visibility of investment opportunities as pension funds look to enter the market.
Open opportunities
See below for the Bank’s commitments to venture and venture growth capital funds that are open to further investment.
All funds have completed full British Business Bank due diligence, and received Investment Committee approval.
| Fund Name | Stage | Sector | Structure | Fund raising target |
|---|---|---|---|---|
| Advent Life Sciences Growth Fund | Growth Stage | Life Sciences (BioPharma and MedTech) | On-shore English Limited Partnership | £200 million - £300 million |
| British Growth Partnership (BGP) Fund I | Later Stage | Advanced Manufacturing, Clean Energy, Creative Industries, Digital and Technology, Financial Services, Life Sciences, Professional and Business Services | GP/LP | £250 million - £350 million |
| Elbow Beach Climate Impact Fund II LP | Early Stage | Advanced Manufacturing, Clean Energy | GP/LP | £75 million |
| Epidarex Fund IV | Seed & Series A | Life Sciences | GP/LP | £200 million |
| Recently Added Felix Capital Fund V | Multistage (Early and Growth Stage) | Multisector | GP/LP | $300 million |
| Recently Added Felix Capital NEXT III | Multistage (Early and Growth Stage) | Multisector | GP/LP | $300 million |
| IQ Capital Fund V | Early Stage Deeptech | Advanced Manufacturing, Clean Energy, Defence, Digital and Technology, Life Sciences | GP/LP | £250 million - £350 million |
| M&G Catalyst Growth Equity Fund I | Growth Stage | Advanced Manufacturing, Clean Energy, Digital and Technology, Financial Services, Life Sciences, Professional and Business Services | GP/LP close-ended | £750 million - £1 billion |
| Redrice Ventures Fund II | Seed & Series A | Creative Industries | GP/LP | £75 million |
| Schroders Capital UK Innovation LTAF | Venture & Growth Stage | Advanced Manufacturing, Clean Energy, Creative Industries, Digital and Technology, Financial Services, Life Sciences, Professional and Business Services | Long-Term Asset Fund (LTAF) | £1 billion |
| SuperSeed Fund III | Seed | Digital and Technology | GP/LP | £80 million - £100 million |
| SV8 Biotech Fund LP | Multistage strategy with emphasis on de-risked later stage assets | Life Sciences | GP/LP | $500 million |
Previous British Business Bank commitments
See below for the Bank’s previous, recent commitments to venture and venture growth capital funds that have closed for further investment. Dates below correspond to the British Business Bank's press notice publication date.
2026
| Fund | Our commitment | Date | Further information |
|---|---|---|---|
| Seraphim Space Ventures II | $20m | 26 Feb 26 | Read press release 26 February, 2026 |
| Partech Partners Impact Fund | €20m | 17 Mar 26 | Read press release17 March, 2026 |
2025
| Fund | Our commitment | Date | Further information |
|---|---|---|---|
| Cambridge Innovation Capital's (CIC) Opportunity Fund | £20m | 24 Feb 25 | Read press release 24 February, 2025 |
| Twin Path Ventures | £10m | 20 Feb 25 | Read press release 20 February, 2025 |
| THENA Capital's UK MedTech Fund (ECF) | £30m | 21 Mar 25 | Read press release 21 March, 2025 |
| SV Health Investors' Dementia Discovery Fund 2 | £25m | 20 Mar 25 | Read press release 20 March, 2025 |
| Arāya Super Angel Fund | £5m | 03 Mar 25 | Read press release 3 March, 2025 |
| Osney Capital's Fund 1 (ECF) | Up to £36m | 07 Apr 25 | Read press release 7 April, 2025 |
| Revaia Growth II | €20m | 02 Apr 25 | Read press release 2 April, 2025 |
| Notion Capital Opportunities III | €20m | 30 Sep 25 | Read press release 30 September, 2025 |
| Sofinnova Partners' Capital XI Fund | €30m | 17 Nov 25 | Read press release 17 November, 2025 |
2024
| Fund | Our commitment | Date | Further information |
|---|---|---|---|
| Earlybird Health II | €20m | 14 Feb 24 | Read press release 14 February, 2024 |
| Episode 1's Fund III | £20m | 06 Feb 24 | Read press release 6 February, 2024 |
| Whiterock Fund I | £45m | 26 Mar 24 | Read press release 26 March, 2024 |
| Evolution Technology Fund III | $50.8m | 25 Apr 24 | Read press release 25 April, 2024 |
| ETF Partners' Fourth Fund | €28m | 21 May 24 | Read press release 21 May, 2024 |
| Kennet VI | €35m | 29 Jul 24 | Read press release 29 July, 2024 |
| 13books Capital's Fund | £25m | 17 Jul 24 | Read press release 17 July, 2024 |
| Balderton IX / Balderton Growth II | $90m commitment ($25m Balderton IX / $65m Balderton Growth II) | 12 Aug 24 | Read press release 12 August, 2024 |
| Outward VC Fund II | £51m | 10 Sept 24 | Read press release 10 September, 2024 |
| Blume Equity Fund I | €25m | 17 Sep 24 | Read press release 17 September, 2024 |
| Atomico Venture VI / Atomico Growth VI | $60m ($20m Atomico Venture VI / $40m Atomico Growth VI) | 16 Sep 24 | Read press release 16 September, 2024 |
Key Contacts
If you are an institutional investor or adviser interested in understanding opportunities to work with the British Business Bank, please contact [email protected].
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Disclaimer
This website includes information about UK investment funds in which one or more entities within the British Business Bank group (“BBB Group”) may be investors. This information is provided for information purposes only – it has no regard to the specific investment objectives or particular needs of any person and does not constitute an offer, recommendation, or financial promotion under applicable legislation. The BBB Group does not market or make investment opportunities available to the public. Fund details are provided by external sources and the BBB Group does not verify their accuracy. Fund investments involve significant risk, including the risk of losing capital.
Access to this website is intended for authorised persons only. Users are responsible for complying with local laws and regulations regarding access. Any investment enquiries must be directed to the relevant fund manager and any investment decisions must be based solely on information provided by the relevant fund or fund manager.
