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British Patient Capital announces €20m commitment to Earlybird Health II

Press release 14 February 2024

British Patient Capital today announces a €20m commitment to the second healthcare fund of Earlybird Health, part of Earlybird Venture Capital’s family of funds, a pan-European venture capital investor.

Earlybird Health is based in Germany with presence in London and British Patient Capital’s first investment in a German-domiciled Fund. The investment supports British Patient Capital’s mandate to catalyse more private sector investment into the UK.

The Fund aims to invest in European companies that deliver positive patient outcomes and will invest in all healthcare sectors - including digital health, diagnostics, medical devices, research and development tools, and biopharma. The Fund will invest in technologies from early, development stages to advanced technologies nearing regulatory approval and commercialisation.

We are delighted to be investing in Earlybird Health to support them in building out their healthcare investment strategy, especially within the UK. The UK is a global centre for healthcare innovation, and this investment aligns with our strategy of increasing the sources of capital to innovative breakthrough companies within the sector.

Christine Hockley Managing Director for Funds, British Patient Capital
Innovation in the UK is second to none and is underpinned by world-class science. We are committed to supporting the European startup ecosystem and fostering the development and growth of some of the world’s most exciting new companies who stand to positively impact the lives of millions of people across the globe in the future. John Yianni Partner, Earlybird Health

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Notes to editors

About British Patient Capital

British Patient Capital Limited is a wholly owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. Its mission is to enable long-term investment in innovative firms led by ambitious entrepreneurs who want to build large-scale businesses. Launched in June 2018, British Patient Capital has more than £3bn of assets under management, investing in venture and venture growth capital to support high growth potential innovative UK businesses in accessing the long-term financing they require to scale up. Find out more here.

British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.

British Patient Capital makes commitments and invests on its own behalf and on behalf of third-party investors whose investments British Patient Capital manages.

The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc, its subsidiaries or any other party in respect of Earlybird Health or its products or services.

About Earlybird Venture Capital and Earlybird Health

Founded in 1997, Earlybird Venture Capital invests out of a family of independently managed funds, including flagship funds Digital West (Western Europe), Digital East (Emerging Europe), and Health. With EUR 2 billion under management across all fund streams, 9 IPOs, and 32 trade sales, Earlybird is one of Europe’s most established and active venture capital firms.

Earlybird Health employs a technology-agnostic approach, investing in opportunities across various healthcare sectors, including digital health, diagnostics, medical devices, R&D tools, and biopharma, with robust and positive patient outcomes.

For more information, visit www.earlybird.com, LinkedIn, and X.

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