British Patient Capital has committed $75 Million to Balderton Capital Growth I, as the $680 million fund closes today.
This new venture growth fund, which is sector agnostic, is said to be one of the largest in the UK and Europe, will seek to support founders as they scale their businesses. The fund will invest between $25 million and $50 million per company.
Balderton is one of the most established technology investors in the UK, with over two decades of experience of backing early-stage ventures.
British Patient Capital previously invested in two Balderton Capital funds which focussed on investing at Series A.
Judith Hartley, CEO of British Patient Capital said they are pleased to provide the cornerstone commitment to Balderton’s inaugural growth fund.
“Balderton’s track record in identifying and backing some of the UK’s most successful innovative companies from seed and Series A means they now hold one of the largest growth stage portfolios in the UK and Europe. A venture growth fund builds on that momentum. This commitment is well aligned with our strategy to invest with fund managers that can back our most promising innovative companies through larger, later-stage funding rounds, and deliver compelling returns. We are delighted to help one of the country’s most seasoned technology investors bring a new venture growth fund to market.”
Rana Yared, General Partner at Balderton Capital said they currently see “unprecedented opportunity” for growth-stage investing in the UK and Europe.
“Multiple maturing technology ecosystems have resulted in global winners being born and scaling from Europe. We’re looking for fifteen or so really exceptional companies that have the potential to be sector leaders and disrupt global industries.”