British Business Investments has committed to supporting Science Creates Ventures in its mission to back deep tech game changers
Science Creates Ventures (SCV) is a key pillar of the Science Creates ecosystem, dedicated to helping scientific founders take discoveries that have the potential to improve healthcare, quality of life and the environment, off the shelf and into the real world.
British Business Investments, an independent commercial subsidiary of the British Business Bank, has committed up to £15 million to SCV through its Regional Angels Programme. This funding will allow SCV to invest in deep tech companies at the Pre-seed, Seed and Series A stages. The majority of the commitment will be invested alongside SCV Fund 2, while a small proportion will be used for co-investments through the existing SCV Fund 1.
To date, SCV has supported ten deep tech companies aiming to solve some of the world’s biggest challenges, with critical funding and mentorship. This commitment from British Business Investments will both help SCV to support those companies and expand the existing portfolio.
Judith Hartley, CEO of British Business Investments, said: “This commitment from British Business Investments will support early-stage UK deep tech businesses that are committed to improving healthcare, quality of life and the environment. Science Creates Ventures will be investing across the UK, with a particular focus on South West England, thereby helping to reduce regional imbalances in access to finance.
The Regional Angels Programme plays a vital role in developing the early-stage funding ecosystem across the UK regions and nations, bringing together finance, business experience and skills to support the development of high-growth smaller businesses.’’
Harry Destecroix, Managing Partner at Science Creates Ventures, said: “We are delighted to receive the support of British Business Investments towards our mission to support scientists to transition out of the lab to deliver solutions to the world’s most pressing problems. We believe there is an enormous amount of untapped potential sitting in universities across the UK and with the support of SCV and the broader Science Creates ecosystem, we believe we can help unlock this potential. We’ve enjoyed working with the British Business Investments team so far and value their support and enthusiasm and look forward to continuing to deliver on our mission across the broader UK deep tech ecosystem.”
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Science Creates Ventures (FRN: 933134) is an Appointed Representative of Kin Capital Partners LLP “KCP”, which is authorised and regulated by the Financial Conduct Authority (FRN: 656789).