British Business Bank puts £180M into six AI, deeptech funds

British Business Bank is committing £180 million to six AI and deeptech venture funds, with most of the money going to later-stage investors. The two growth-stage funds take £77 million: £55 million for Intrepid Growth Partners' Fund I, a specialist AI growth fund, and £22 million for Evantic Fund I, roughly 43% of the total. Early-stage funds get £55 million: £35 million for Crane Ventures Partners' Crane III, £20 million for Connect Ventures' Connect V, and £22 million for Entrepreneurs First's early-stage fund. Headline's EU VIII fund receives £26 million. The Bank says the funds have already generated more than £1 billion, capping its share at 18%. The announcement does not say whether any of the six funds invest only in British companies.

AI-generated from reports · 2 days agoUpdate