British Patient Capital backs UK start ups

The latest investments form part of the venture capital firm’s co-investment strategy

British Patient Capital acquired first direct stakes in a series on UK start-up businesses, in areas including medical technology, data analytics and banking software.

The venture capital arm of the state-owned British Business Bank has a £2.5bn budget and has invested in three businesses to date, according to reports in the Financial Times.  The largest is a £7m stake in Accurx, a medical tech company, followed by £5m in both data analytics firm, Quantexa, and Thought Machine, which provides banking software. The investments form part of British Patient Capital's co-investment strategy that will see it acquire stakes in what it considers to be fast growing businesses.  VCT industry cautiously hope for budget boost This strategy will reporte...