British Patient Capital approves $75m commitment

The UK government-backed investor has committed to a growth-equity fund.

Institution: British Patient Capital
Headquarters: Sheffield, UK
AUM: £5.8 billion

British Patient Capital, a subsidiary of British Business Bank, has committed $75 million to Balderton Capital Growth I, according to a recent press release. This represents the third investment that the investment company has made into Balderton Capital’s vehicles, including committing to Balderton Capital Fund VII in 2019.

Earlier in June, Balderton closed its debut growth fund at $680 million to invest in “future tech giants born in Europe.” The fund will invest primarily in growth-stage companies and is sector agnostic. The firm aims to build a portfolio of about 15 companies for the fund, investing between $25 million to $250 million per deal.

British Patient Capital tends to focus its fund commitments on venture and growth-equity vehicles.