British Business Investments has committed £350m in the past 12 months to 20 delivery partners, which include VCs such as Praetura Ventures and lenders such as Atom Bank.
The subsidiary of government-backed British Business Bank said it has now committed almost £3.4bn since 2014 and is currently supporting 24,000 small UK firms – with 85% based outside of London.
According to its full-year results ended March 2022, British Business Investments reported a pre-tax profit of £189.4m.
Judith Hartley, CEO, British Business Investments, said: “As a ‘through the cycle’ investor and lender we have continued to invest strongly over the last year despite the challenging economic headwinds and have remained active and visible in the market, to support funding for the UK’s smaller businesses.”
A pre-tax profit of £189.4m was also detailed in the report.
Part of the £350m from BBI went to the Bristol-based deep tech investor Science Creates Ventures which collected £15m earlier this month. Venture capital firm Atempo Growth also received £26m for its tech venture debt fund in September.
The British Business Bank recently announced its £200m South West Investment Fund focusing on places such as Bristol, Cornwall, Devon, Dorset, Gloucestershire, Somerset and Wiltshire.