The British Business Bank has announced two significant investments this week, underscoring its commitment to fueling innovation across high-potential sectors. Recently, the Bank revealed a cornerstone commitment of up to £45 million to Redrice Ventures’ targeted £75 million Fund II, aimed at nurturing the UK’s creative industries.
Also this month, the bank reports that it invested £5 million directly into SatVu, a pioneering satellite thermal intelligence firm, as part of a £30 million funding round.
Together, these moves highlight the Bank’s focus on cultural creativity and strategic technology to drive economic expansion and global competitiveness.
Redrice Ventures, a London-based firm founded in 2018, specialises in seed-stage funding for tech-enabled consumer brands and platforms where creativity meets commerce.
The new fund builds on the Bank’s earlier £36 million support for its first fund in 2021, which attracted substantial private capital.
Redrice targets dynamic areas such as media, sport, health and wellness, investing at the crossroads of innovative storytelling and commercial growth.
Its approach is bolstered by the Redrice Sports Collective, featuring high-profile figures like Sir Andy Murray and Alistair Brownlee OBE, which enhances opportunities in entertainment and performance-driven sectors.
This latest backing comes through the Bank’s Enterprise Capital Funds program, which has already supported 51 funds and mobilised over £3 billion in equity for early-stage companies.
By acting as a cornerstone investor, the Bank helps new funds reach first close and scale effectively.
The creative industries form a powerhouse ecosystem: UK consumer brands generate demand for design, advertising and content, while creative talent crafts the distinctive identities that propel exports.
Sport, too, blends live events, digital media and storytelling into globally appealing experiences.
Christine Hockley, Managing Director and Co-Head of Funds at the British Business Bank, emphasised the sector’s importance: the creative industries employ 2.4 million people and add £124 billion in gross value to the economy.
She noted that the investment aims to attract more private capital, enabling businesses to expand, create jobs and unlock the UK’s full commercial potential.
Creative Industries Minister Ian Murray praised the world-class nature of these businesses nationwide and highlighted ongoing work through the Creative Industries Sector Plan to improve access to finance.
Mark Sims, Senior Director of Funds, welcomed the repeat partnership with Redrice, aligning it with the government’s modern Industrial Strategy.
Founder Tom March of Redrice Ventures added that the UK’s talent pool, combined with technological advances, positions it ideally to launch enduring global brands built on authentic connections rather than fleeting trends.
In parallel, the Bank’s £5 million injection into SatVu supports a £30 million round that also includes the NATO Innovation Fund, SPARX Space Frontiers Fund, Presto Ventures and existing backers such as Molten Ventures and Lockheed Martin.
SatVu develops high-resolution thermal imaging satellites that deliver unique intelligence for defence and security applications, revealing hidden activities around buildings and infrastructure day and night.
The funding will accelerate upcoming satellite launches—two scheduled for orbit in 2026, with three more already contracted—towards a full constellation capable of persistent monitoring.
Leandros Kalisperas, Chief Investment Officer at the Bank, highlighted its growing flexibility to back breakthrough technologies directly from Series A onwards, where patient capital is essential for research and scaling.
George Mills, Investment Director, acknowledged SatVu’s strategic value amid rising demand for defence innovation.
Co-founder and CEO Anthony Baker described the technology as providing governments with otherwise inaccessible insights, strengthening national security in an uncertain world.
These announcements reinforce the British Business Bank’s mission to improve finance access for smaller businesses, having facilitated £23 billion across nearly 64,000 firms.