Alert Icon

Beware of scams

We are aware of scams coming from email and social media where people try to impersonate us. We will never ask you for money or your bank details.

Learn more about what to look out for and how to protect yourself

British Patient Capital Announces Cornerstone Commitment to £110m Amadeus V Technology Fund

Press release 30 April 2021

Commitment will provide capital to transformative UK deep tech companies

British Patient Capital announces a cornerstone commitment to the Amadeus V Technology Fund, as Amadeus Capital Partners announces its final close today at £110m.

The Amadeus V Technology Fund invests at Seed and Series A in companies that are seeking to improve the way we live, work and interact through science and engineering-led innovation. The fund focuses on:

  • Artificial Intelligence & Machine Learning
  • Autonomous Systems & Human Computer Interfaces
  • Enterprise SaaS & Cyber Security
  • Digital Health & Medical Technology
  • Novel Materials & Quantum Technologies

The fund has made 16 investments to date including:

  • Xampla – replacing single-use and micro-plastics with plant protein material
  • Riverlane – Europe’s most advanced quantum software company
  • XYZ Reality – world’s first ‘Engineering Grade’ Augmented Reality device for construction
  • Ori Biotech – innovative manufacturing for cell and gene therapy
Our cornerstone commitment to Amadeus Capital Partners’ latest fund is a key part of our strategy to invest with fund managers that can leverage the UK’s world leading position in science and engineering led innovation. Amadeus’s commitment to Diversity and Inclusion, both in its own team and the companies it backs, is well aligned with British Patient Capital’s mission and values. Long-term patient capital can support our high-potential breakthrough technology companies reach their full potential and deliver compelling returns. Judith Hartley CEO, British Patient Capital

The UK has world-leading deep technology innovation, which Amadeus helps to propel into significant global businesses. Amadeus has built its reputation as a deep tech specialist investor over 23 years and, with our roots in Cambridge, London and other innovation clusters across the UK, we are privileged to have access to the most exciting and transformative startups this country has to offer.

We are pleased that one-third of our early stage investment team are women and, as a female venture capital CEO, I am personally deeply committed to improving diversity among founders and investors in the deep tech space. While the UK is improving, we need more people from diverse backgrounds to be encouraged to embark on the journey from entrepreneurship to financial success and Amadeus is looking forward to backing their innovations in future.

Anne Glover CBE CEO, Amadeus Capital Partners

Notes to editors

About British Patient Capital

British Patient Capital is the trading name of British Patient Capital Limited, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s commercial arm.

Its mission is to enable long-term investment in innovative firms led by ambitious entrepreneurs who want to build large scale businesses. British Patient Capital has been given new resources of £2.5bn and will deliver a programme designed to support high growth potential innovative UK businesses in accessing the long-term financing they require to scale up. Find out more at

British Business Bank plc and its principal operating subsidiaries are not banking institutions and do not operate as such. Neither British Business Bank nor its principal operating subsidiaries are authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.

British Patient Capital makes commitments and invests on its own behalf and on behalf of third-party investors whose investments British Patient Capital manages.

The investment from British Patient Capital into Kennet V SCSp does not amount to any endorsement or warranty from British Patient Capital, the British Business Bank PLC, or the government of the UK.

About Kennet Partners

Kennet is a leading international growth equity firm that invests in high-growth companies in Europe and North America. With offices in London and Silicon Valley, the firm supports entrepreneurial technology businesses with expansion capital to accelerate growth and build exceptional shareholder value. Kennet is an experienced investor with approximately $1 billion of cumulative funds under management. For more information visit

Kennet Partners Limited is authorized and regulated in the United Kingdom by the Financial Conduct Authority.