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British Patient Capital announces $30m commitment to Hoxton Ventures’ third fund

28 April 2022:British Patient Capital announces today a $30m commitment to Hoxton III. The fund will help build and scale UK and European early-stage technology start-ups.

Hoxton Ventures invests in seed-stage technology companies, led by ambitious founders with global ambitions for their companies. This new fund builds on the success of Hoxton’s previous funds, which have invested in the likes of Darktrace and Deliveroo. It enables Hoxton to make larger investments at inception, and to make follow-on investments in the portfolio’s future rounds.

Judith Hartley, CEO, British Patient Capital, said: “In recent years, the UK has proved a rich hunting ground for opportunities to back early-stage companies which are developing exciting new technologies. Our commitment to Hoxton III supports our objective of backing the next generation of home-grown companies seeking to become global market leaders. Hoxton’s deep expertise in supporting founders and growth companies aligns with our vision to nurture the brightest and most innovative companies.”

ENDS

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 plc’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. Launched in June 2018, British Patient Capital has £2.5bn to invest over 10 years 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 at britishpatientcapital.co.uk.

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 investment from British Patient Capital 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 based in London and 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 the first institutional investor in Babylon Health, Darktrace and Deliveroo, and its portfolio companies have grown to an aggregate value of over $47 billion. Hoxton typically invests between $500,000 and $5 million into pre-seed and seed stage companies, and follows its capital through the life of the company. For more information please visit https://www.hoxtonventures.com.

For more information

Tom Allchorne

Senior Communications Manager

The British Patient Capital team at MHP Communications