5 October 2022
British Patient Capital has committed €25 million to Finch Capital’s Europe Fund III, which has reached a final close.
UK and Netherlands-based venture capital firm Finch Capital’s latest vehicle will target European fintech companies with high growth potential, and is British Patient Capital’s first commitment to a dedicated fintech fund. It will look to invest €2-10 million per company, acquiring significant minority stakes in scale-up businesses with €2-10 million in revenues. As with previous funds, Finch plans to back 15-20 European start-ups, targeting liquidity three to five years post-investment, over the fund’s three-year initial investment lifespan.
Catherine Lewis La Torre, CEO of British Patient Capital, said: “The UK has been a world-leader in financial services for decades and is now leading the fintech revolution. Fostering innovation across the UK, and supporting innovation-led businesses, is vital to empowering our economy. With fintech now accounting for around half of all technology deal flow in Europe, investing in Finch Capital’s Europe III fund provides a great opportunity to back companies leading in the sector. We are excited to work with Finch Capital as they continue to grow their presence in the UK and back the best UK and European growth stage fintech companies.”
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 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 £2.5 billion 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 www.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.
This 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 Finch Capital
Finch Capital is a thematic growth investor in high growth technology companies disrupting the world of financial, real estate and health run by exceptional entrepreneurs. Its mission is to fund and support the best entrepreneurs creating products that will shape the future of the themes they invest in. Finch leverages it international network and industry expertise to enable their portfolio companies to grow into leaders in their field. More information can be found on the Finch Capital website.