British Patient Capital invests in best-in-class venture and venture growth capital fund managers with a strong UK focus, as well as directly in the most promising later-stage businesses.
As the UK’s largest domestic investor in UK venture and venture growth opportunities, we are increasing access to, and the availability of, long-term, patient finance. We do this via three schemes, each one addressing specific market issues.
- Core funds and co-investment programme: Through our core £2.5bn funds and co-investment programme, we invest in venture and venture growth capital funds, and co-invest alongside those funds in the most promising later-stage UK businesses within our portfolio. We are building a robust portfolio diversified by stage, sector and vintage, and aiming to unlock an additional £5bn of private sector institutional capital to be invested alongside our own.
- Life Sciences Investment Programme: Building on the success of our investments in the life sciences sector, we manage the £200m Life Sciences Investment Programme (LSIP). We will make cornerstone commitments to specialist venture growth funds to increase the availability of later-stage finance for high-potential UK life sciences companies.
- Future Fund: Breakthrough: We are leveraging our co-investment capabilities to construct a portfolio of growth-stage R&D intensive UK companies through the £375m Future Fund: Breakthrough programme. Due to high research and development costs, these businesses typically require more capital than other technology companies to fuel the later stages of their growth.
Across all its activities, British Patient Capital invests on a commercial basis to deliver competitive returns for the UK taxpayer. By demonstrating that a patient capital approach can produce commercially attractive returns, we are encouraging other UK institutional investors to invest in the asset class, to both drive and benefit from the success of our high-growth companies.