British Patient Capital, a subsidiary of the British Business Bank, has committed $45m into Balderton Capital Fund VII, as it closes at $400m.
The fund will focus on the Series A stage to support outstanding founders at this critical point in a start-up’s journey.
As with previous funds, Balderton will be looking to invest in leading-edge technologies, as well as strong brands with demonstrable momentum. Balderton’s existing portfolio includes Revolut, a digital bank focusing on global spending and transfers, Cambridge-based Healx, which uses AI to accelerate development of treatments for rare diseases, and Infarm, one of the world’s most advanced urban farming platforms.
Bernard Liautaud, Managing Partner at Balderton, said: “We believe Europe has the potential to build the next generation of technology giants, and we are focused on helping brilliant founders fulfil that ambition. We are seeing more and more exceptional founders raising Series A in Europe. With today’s new fund we want to build on that momentum.
“Series A is a critical point in a startup’s journey – it’s a magical moment when they are reaching product-market fit, are poised to scale and have to make decisions that can affect their growth trajectory for years to come. Our whole team is dedicated to helping our founders tackle those decisions as they embark on their journey.”
Catherine Lewis La Torre, CEO, British Patient Capital, said: “Our mission is to enable long-term investment in innovative companies across the UK, led by ambitious entrepreneurs who want to build successful world-class businesses.
“Balderton Capital invests in early-stage companies with global ambitions and is one of a few UK-based VCs with large follow-on reserves to continue to support its most promising companies into the growth stage, making it well aligned with British Patient Capital’s mandate.”