Our history

British Patient Capital was launched in June 2018 following the publication of the UK government’s Patient Capital Review. Led by HM Treasury, the Review found that whilst the UK provides a fertile ground for innovation to thrive, a lack of access to long-term finance, or patient capital, has prevented some UK companies from scaling up and fulfilling their full commercial potential.

In response, British Business Bank, the government-owned business development bank, created British Patient Capital as a commercial subsidiary, with an initial £2.5bn to invest over 10 years in venture and venture growth capital, which will unlock an additional £5bn of private capital to support UK companies with high growth potential.

Since launch, we have become the UK’s largest domestic investor in venture and venture growth opportunities, managing both a funds and a co-investment programme. In July 2021 two new products were introduced, the £200m Life Sciences Investment Programme, and the £375m Future Fund: Breakthrough initiative.

For the latest information on our work, our Annual Reports and Accounts can be found here.