British Patient Capital has announced a £70.2m ($90m) commitment to Balderton Capital’s latest funds, investing around £19.5m ($25m) into Balderton IX and £50.7m ($65m) into Balderton Growth II.
The funds have raised a combined $1.3bn to back Europe’s most ambitious entrepreneurs from seed stage through to IPO.
Since its founding in 2000, Balderton has invested in more than 275 technology companies based across Europe. The current portfolio includes global category leaders like Revolut, Dream Games, GoCardless, and Wayve.
Christine Hockley, managing director, funds, British Patient Capital, said: “Balderton Capital is an experienced VC firm with more than 20 years of experience in investing across the UK and Europe.
“We are pleased to continue our support for Balderton by investing in their latest funds. Our commitments will enable the UK’s leading entrepreneurs to access capital, whether that be in the early stages of their journey, in their Series B, C or beyond.”
Robert Greenwood, investment director, funds, British Patient Capital added: “We know that entrepreneurs in the UK and Europe have the talent and ambition to produce globally competitive companies.
“To build the next generation of global leaders, companies need partners that can support them through every stage of growth.
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“Balderton’s founder-centric approach and track record of identifying and backing some of Europe’s most successful technology companies means that they are well-placed to deliver on this opportunity. We are delighted to help them bring their new funds to market.”
Bernard Liautaud, managing partner, Balderton Capital, said: “At Balderton, we believe the best way to change the world is to build a business – and many of these world-changing businesses will be built in Europe.
“As a firm, our mission is simple: to be the partner of choice to the founders of those European businesses. These new funds put us in a position to do just that.”
British Patient Capital Limited is a wholly owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank.
Its mission is to enable long-term investment in innovative firms led by ambitious entrepreneurs who want to build large-scale businesses.
Launched in June 2018, British Patient Capital has more than £3bn of assets under management, investing in venture and venture growth capital to support high growth potential innovative UK businesses in accessing the long-term financing they require to scale up
The latest commitments follow British Patient Capital’s previous investments in Balderton Capital VI, Balderton Capital VII, Balderton Capital VIII and Balderton Capital Growth I.
Balderton Capital is a leading UK-based VC firm which invests in high-growth technology companies across the UK and Europe at both the early and venture growth stages.
Balderton’s investment history spans technology sectors including AI, FinTech, B2B SaaS, digital health, mobility, gaming and marketplaces.
Previous investments include Darktrace (LON: DARK), Depop, Flywire (NASDAQ: FLYW), Kobalt, MySQL, Nutmeg, Peakon, Recorded Future, Talend (NASDAQ: TLND) and THG (LON: THG).
Balderton’s current portfolio includes: Beauty Pie, Contentful, Dream Games, GoCardless, Lendable, Matillon, Merama, Photoroom, Revolut, Tibber, Wayve, Writer and ZOE.
Balderton IX is an early stage fund which focuses on companies at seed stage through to Series A. Balderton Growth II focuses on growth companies in the later stages, supporting entrepreneurs through their Series B, C and beyond.