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British Patient Capital announces cornerstone commitment to Hoxton Ventures II

Press release 10 June 2020

London: British Patient Capital, a subsidiary of the British Business Bank, has made a cornerstone commitment to Hoxton Ventures’ second fund as it announces its final close today.

The Fund will invest primarily at seed and Series A, backing ambitious, founder led companies with the potential to scale globally and take advantage of newly forming markets that have strong growth possibilities, irrespective of wider macro-economic conditions.

Hoxton Ventures II has already made 20 investments across a range of sectors, including a next generation enzyme business, a homewares marketplace, a cloud kitchen business, an artificial intelligence radiology startup, and an online education company.

We set up Hoxton to address a market gap at a time when few venture firms wanted to invest at the early stage in the UK and Europe. Success stories like Darktrace and Deliveroo show that the UK can produce large, global tech winners. The availability of venture capital, however, is still far lower per capita than in the US. LP support is vital to the success of a strong and healthy tech ecosystem, and British Patient Capital has played a critical role to address the funding gap in the UK. We are delighted to have British Patient Capital as an LP in our second fund. Rob Kniaz Partner, Hoxton Ventures
Our mission is to enable long-term investment in innovative companies across the UK, led by ambitious entrepreneurs who want to build successful world-class businesses. Hoxton’s approach to investing early, and then supporting founders with business know how, access to global markets, and connections to later-stage growth capital investors is well aligned with our mission. Catherine Lewis La Torre CEO, British Patient Capital

Further Information

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 Hoxton Ventures II LP does not amount to any endorsement or warranty from British Patient Capital, the British Business Bank PLC, or the government of the UK.

About Hoxton Ventures

Hoxton Ventures is an early stage venture capital firm investing in European technology startups that can scale into large, global winners. It focuses on startups that either disrupt existing industries or invent entirely new market categories. It was an early investor in Babylon Health, Darktrace and Deliveroo, and its portfolio companies have grown to an aggregate value of over $7 billion. Hoxton typically invests between $500,000 and $5 million into pre-seed, seed and Series A stage companies, and follows its capital through the life of the company. For more information please visit