British Business Bank (est. 2014) is the UK government's economic development bank, driving sustainable growth & prosperity. £250m Life Sciences Investment Programme (launched 2021) aims to increase funding supply to UK life sciences ecosystem via cornerstone investments in specialist VC funds. As of May 2025, committed £150m to three specialist life sciences growth funds. Exceeded £400m private sector leverage target with funds securing £689m despite only £150m deployed. Team: experienced investment professionals focused on patient capital & public-private partnerships.
Investment Focus
Investment Thesis
Fund of funds launched in 2021 targeting specialist life sciences VC funds. Makes cornerstone commitments to later-stage life sciences venture growth funds with strong UK focus, typically £50m-£100m per fund. Focus: biotech, medtech, therapeutics, diagnostics. Addresses growth equity gap for capital-intensive, R&D-intensive companies. Invests £250m total into specialist life sciences venture capital growth funds. Seeks to stimulate private investment & retain UK companies. Geographic: UK-focused. Avoids: early-stage venture (no seed/Series A), non-life sciences sectors.
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