
Annual Reports and Accounts
Investing in tomorrow – Annual Report and Accounts 2023
Key highlights include:
- Across its three programmes, British Patient Capital manages assets with a total value of £3,075m.
- Investments since inception totalled £1,898m across 70 fund commitments, six co-investments, and 16 Future Fund: Breakthrough deals.
- Total commitments, including capital from other institutional investors, now total £13bn.
- In 2022/23, we made eight new fund commitments and two co-investments from the core programme, and 10 direct investments via Future Fund: Breakthrough.
- Announced the first investment through our Life Sciences Investment Programme.
Investing in Innovation – Annual Report and Accounts 2022
Key highlights include:
- Across its three programmes, British Patient Capital now manages assets with a total value of £3,075 million.
- Investments since inception totalled £1,635 million across 61 fund commitments, four co-investments and five Future Fund: Breakthrough deals.
- Total commitments, including capital from other institutional investors, now total more than £10.7 billion.
- In 2021/22, we made 10 new fund commitments and two co-investments from the core programme, with a total value of £341 million.
- The total portfolio Internal Rate of Return since inception for the core programme was 32.9% to end of March 2022, compared to 25.3% in March 2021.
- The portfolio TVPI of the core programme was 1.80x, up from 1.51x the previous year.