Bristol-headquartered Science Creates Ventures has picked up £15m in funding from British Business Investment’s Regional Angels Programme.
Science Creates Ventures invests in UK deep tech firms across the healthcare and environmental sector. It typically backs firms from the pre-seed stage to Series A.
The British Business Investment funds will largely be invested alongside the VC’s Fund 2, with the remainder going towards the existing Fund 1.
“We are delighted to receive the support of British Business Investments towards our mission to support scientists to transition out of the lab to deliver solutions to the world’s most pressing problems,” said Harry Destecroix, managing partner at Science Creates Ventures.
“We believe there is an enormous amount of untapped potential sitting in universities across the UK and with the support of SCV and the broader Science Creates ecosystem, we believe we can help unlock this potential,” added Destecroix.
SCV is the investment arm of Science Creates, which runs two incubators aimed at deep tech entrepreneurs, providing them with lab space and support.
Science Creates incubator graduate and University of Bath spin-out Transdermal Diagnostics recently secured £1.1m for its needle-free blood monitoring “smart patch”.
British Business Investments is a branch of the British Business Bank, which is backed by the UK government.