The British Business Bank has allocated £180 million to six venture capital funds focused on artificial intelligence and deeptech. This initiative aims to expand domestic capital access for startups at various stages of growth, from pre-seed to expansion.
The capital distribution includes £55 million for the AI-focused Intrepid Growth Partners’ Fund I and £35 million for Crane Ventures Partners’ Crane III fund. Additionally, the bank invested £26 million in Headline’s EU VIII fund.
Further allocations include £22 million for the early-stage fund managed by Entrepreneurs First and £22 million for Matt Miller’s Evantic Fund I. Connect Ventures’ Connect V fund, which supports pre-seed startups, received £20 million.
These investments follow a separate commitment of £10 million in Salience Labs announced by the bank one day prior. According to chief investment officer Leandros Kalisperas, the strategy seeks to align the UK funding landscape with the nation's technical expertise.
