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British Patient Capital Commits £15m to Seedcamp’s fifth fund

Press release 11 November 2020

  • Commitment will provide capital to some of the UK’s most exciting early stage companies

  • Seedcamp success stories include UK fintech unicorns Revolut and Transferwise

British Patient Capital announces a £15m commitment to Seedcamp V, as Seedcamp announces its first and final close today at £78m.

Seedcamp is one of the best known early-stage investors in the UK and has played an important role in accelerating the growth of several high-potential UK companies. Fintech unicorns Revolut and Transferwise both benefited from early Seedcamp investment.

This investment by British Patient Capital to Seedcamp V follows its previous cornerstone commitment to Seedcamp’s fourth fund. Online events platform Hopin, one of the fastest growing companies in the world, is Fund IV’s most notable break-out success, recently achieving double unicorn status.

Fund V is well placed to build upon this foundation. As Seedcamp’s largest fund to date, Fund V has the capital reserves to support its most promising companies as they scale up and grow.

Seedcamp has demonstrated its ability to identify and support some of the UK’s most exciting seed-stage companies. As an existing LP, we’re delighted to continue our partnership with the Seedcamp team and provide them with capital to back their companies, as they scale and grow. This is well aligned with our vision for more home-grown and fully funded, high-growth companies to fulfil their potential to be significant players on the global stage.

A key investor anchoring our previous fund and we’re delighted to have them backing us further with Fund V. We look forward to having the opportunity to partner with more world-class European founders building global businesses as part of this fund."

- Judith Hartley CEO, British Patient Capital

Further Information

Notes to editors

About British Patient Capital

British Patient Capital is the trading name of British Patient Capital Limited, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s commercial arm.

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 £2.5bn to invest over 10 years 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 at britishpatientcapital.co.uk.

British Business Bank plc and its principal operating subsidiaries are not banking institutions and do not operate as such. Neither British Business Bank nor its principal operating subsidiaries are 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 investment from British Patient Capital into Seedcamp V L.P. does not amount to any endorsement or warranty from British Patient Capital, the British Business Bank plc, or the government of the UK.

About Seedcamp

Seedcamp is Europe’s seed fund, investing early in world-class founders attacking large, global markets and solving real problems using technology. The Seedcamp Nation includes over 360 breakout businesses and includes the likes of Hopin, Revolut, UiPath, Transferwise, Pointy (acquired by Google), wefox, Ezra, viz.ai and Stupefix (acquired by GoPro). Seedcamp fast-tracks a founder’s vision through immediate access to smart capital, a lifelong community of support and a global network of some of the world’s best talent.

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