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British Patient Capital announces €28m commitment to ETF Partners’ Fourth Fund

Press release 21 May 2024

British Patient Capital today announces a €28m commitment to the Fourth Fund of ETF Partners, the sustainability focused venture capital firm. British Patient Capital is joined by several other investors including the European Investment Fund.

ETF Partners is a UK-based, sustainability focused venture capital firm, investing in early growth stage companies across Europe that are tackling climate related issues through technological innovation. British Patient Capital has previously committed £20m to ETF Partners’ third Fund.

The Fund has already made investments in a number of exciting companies, such as Dexter, Net Purpose, Fairly Made, Open Cosmos and Hellas Direct. These companies were revenue generating at the point of initial investments, and they continue to demonstrate growth as they work to solve a variety of environmental challenges.

We are delighted to be investing in ETF Partners’ Fourth Fund as they look to support the new wave of innovative digital businesses which are tackling sustainability and climate related challenges. The ETF team bring the experience and sectoral expertise required to support climate tech companies as they scale-up. Christine Hockley Managing Director for Funds, British Patient Capital
Continued innovation is required to tackle the significant challenges of climate change. These innovative technology businesses not only need capital but supportive investors to help them scale, grow and be part of the longer-term solution. ETF Partners have the experience and history investing in clean and climate tech and their new fund will allow them to continue to provide this guidance to a new generation of entrepreneurs. Chris Smart Senior Investment Manager, Funds, British Patient Capital
We are profoundly grateful for the trust and commitment shown by British Patient Capital with their recent investment of €28m to our Fourth Fund. This is a strong endorsement of our mission to drive sustainable innovation and tangible change across Europe. At ETF Partners, we believe in the power of technology to address critical environmental challenges and accelerate the transition to a more sustainable future. With this new fund, we are excited to deepen our impact by supporting a new generation of visionary entrepreneurs who share our commitment to sustainability and addressing the climate emergency head on. Together, we aim to create not only economic value but also lasting positive change for our planet. Patrick Sheehan Managing Partner, ETF Partners

Further Information

Notes to editors

About British Patient Capital

British Patient Capital Limited is a wholly owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. Its mission is to enable long-term investment in innovative firms led by ambitious entrepreneurs who want to build large-scale businesses. Launched in June 2018, British Patient Capital has more than £3bn of assets under management, investing in venture and venture growth capital to support high growth potential innovative UK businesses in accessing the long-term financing they require to scale up. Find out more here.

British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. They are not 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 transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc, its subsidiaries or any other party in respect of ETF Partners or its products or services.

About ETF Partners

Founded in 2006, ETF Partners supports talented entrepreneurs and management teams with investment capital and experience. Our funds come from institutional investors, global corporations, and family offices. We create value by investing in technology companies that make a difference. We call it Sustainability through Innovation.
For further details, visit https://etfpartners.capital