The mission of British Patient Capital is to enable long-term investment in innovative UK companies led by ambitious entrepreneurs who want to build successful, world-class businesses.
The UK provides a fertile ground for innovation to thrive, but a lack of access to finance continues to hold back some companies from scaling up and fulfilling their commercial potential. British Patient Capital enables greater availability of this type of finance to help build the UK’s innovation economy.
A commercial subsidiary of the British Business Bank, British Patient Capital manages a £2.5bn programme which will unlock an additional £5bn in private capital to support UK businesses with high growth potential over 10 years. We invest in a diversified portfolio of best-in-class venture and venture growth capital funds, and directly alongside our fund managers in the most promising later-stage UK companies in our underlying portfolio.
Alongside this, we also manage the Life Sciences Investment Programme, which was set-up to address the later stage equity finance gap faced by high-potential UK life sciences companies, and Future Fund: Breakthrough, which is targeting the later stage equity finance gap faced by innovative, R&D-intensive UK companies with cutting edge technologies.
As well as providing our own funding, we are building the UK patient capital ecosystem and working to encourage more institutional investors to make allocations to the venture and venture growth capital market by demonstrating that a long-term patient capital investment strategy can produce commercially attractive returns.
Importantly, British Patient Capital strongly believes in the value of diverse teams, and we have an important role to play in encouraging fund managers and management teams to develop their diversity and inclusion initiatives. Diverse viewpoints have a positive impact across several areas, including deal-sourcing and the quality of decision-making, and we include diversity as an integral part of our assessment of fund managers.
For the latest information on our work, our Annual Reports and Accounts can be found here.