Back to Investors
British Patient Capital

British Patient Capital

Government

British Patient Capital acts as a domestic investor supporting UK venture and growth opportunities.

Portfolio

17

companies

AUM

£3000M

under management


Portfolio companies

Nuclera

Nuclera

Nuclera develops benchtop systems to accelerate protein expression and purification for research laboratories.

Form3

Form3

Form3 operates a cloud-native account-to-account payment processing platform.

Wagestream

Wagestream

Financial benefits provider delivering services for low and middle-income workers.

PS

Pragmatic Semiconductor

Pragmatic Semiconductor manufactures flexible integrated circuits that embed intelligence into everyday objects.

NG

Northern Gritstone

Northern Gritstone invests in university spin-outs and intellectual property-rich businesses in the North of England.

Quantexa

Quantexa

Quantexa provides decision intelligence software to help organisations uncover hidden risks and opportunities.

CyberSmart

CyberSmart

CyberSmart provides automated cybersecurity and compliance technology for small and medium-sized enterprises.

QM

Quantum Motion

Quantum Motion develops silicon-based quantum computing architectures compatible with standard semiconductor manufacturing.

Iceotope

Iceotope

Iceotope provides precision immersion cooling technology for data centres.

Oxford Quantum Circuits

Oxford Quantum Circuits

Oxford Quantum Circuits builds enterprise-ready quantum computing platforms.

C

CloudNC

CloudNC develops software that enables factories to autonomously manufacture precision parts.

Proximie

Proximie

Proximie provides a digital health platform connecting operating rooms globally.

Microbiotica

Microbiotica

Microbiotica develops microbiome-based therapeutics and precision biomarkers.

Paragraf

Paragraf

Paragraf manufactures scalable graphene-based electronic devices.

Thought Machine

Thought Machine

Thought Machine develops cloud native core banking technology for financial institutions.

Ultraleap

Ultraleap

Ultraleap builds hand tracking and mid-air haptics technology for spatial computing.

accuRx

accuRx

accuRx develops collaborative communication software that connects patients and healthcare teams.


Team

CL

Catherine Lewis La Torre

CEO

JH

Judith Hartley

CEO

IC

Ian Connatty

Managing Director, Direct & Co-Investment

TH

Tom Haywood

Managing Director, Direct Investments


Recent investments

Series C
£57.0M

The Series C financing was led by Elevage Medical Technologies with backing from Patient Square Capital and other investors.

"This significant investment demonstrates continued confidence in our team, our eProtein Discovery system, and our potential to revolutionize the way proteins are made. This funding will accelerate our mission to provide ready-to-use benchtop protein screening and making tools to empower protein scientists around the world. We are excited to enhance our support for our customers, enabling them to make proteins for drug discovery more efficiently and effectively for many years to come."
— Michael Chen, CEO
Series C
£17.5M

The round was backed by British Patient Capital, Lombard Odier Investment Managers, and Northzone to help scale services for frontline employees.

"Do frontline workers not deserve choice? Do frontline workers – who keep essential services running in good times and tough times – not deserve a better financial future?"
— Peter Briffett, Co-founder and CEO
Series D+
£162M

The largest European semiconductor venture funding round to date will support the construction of new fabrication lines in the UK.

"This successful Series D round is a clear testament to the massive opportunity for our innovative technology to enable item-level intelligence in virtually any object on the planet. Our global customers value our ultra-thin and flexible form factor, our breakthrough low cost of customisation and rapid production cycles, as well as the lower environmental footprint compared to silicon. Scaling our manufacturing capacity on the UK’s first ever 300mm wafer production lines at our site in Durham will enable us to deliver hundreds of billions of chips to customers worldwide over the coming decade."
— David Moore, CEO
Growth
£312M

The investment business reached its final close anchored by local authority pension funds and institutional backers.

"Our ability to raise funding on this scale highlights the support for the world-class science and innovation being developed in the North of England."
— Jim O'Neill, Chair
Series D+
£104M

GIC led the Series E round, which values the decision intelligence provider at $1.8bn.

"After closing our Series D investment round, Quantexa has been on a transformational journey, accelerating the growth of our global software business and firmly establishing our leadership position in the emerging Decision Intelligence category. In a challenging market we have doubled our ARR, our user base, and continue to penetrate new markets and industries. This infusion of capital will fuel further innovation, diversification, and expansion, and opens exciting options for our future."
— Vishal Marria, CEO
Series B
£12.8M

Oxx led the Series B round with participation from institutional and returning investors to fund product development and global expansion.

"Once again, we were blown away by the interest we received from investors, but as we carve our niche in the market, we remain steadfast in being selective of shareholders whose values and ambition align closely with our own. In spite of the economic downturn, we are encouraged that some of Europe’s most reputable investors believe in, and are keen to financially support, CyberSmart’s mission to protect and empower the underserved SME market against cybercrime. More importantly, we are delighted that they trust us to deliver on that vision, and I look forward to seeing how much we can accomplish in the year ahead."
— Jamie Akhtar, CEO and Co-founder
£42.0M

The oversubscribed round was led by Bosch Ventures with backing from Porsche SE and British Patient Capital.

"The support of leading technology investors enables us to realise our vision of a quantum computer built using standard foundry processes. This support, along with the continuing UK national quantum programme and European initiatives, provides a step-change in our capabilities. We have assembled a world leading team and with the funding and support in place, we are ready to scale and deliver on our vision."
— James Palles-Dimmock, CEO
Series C
£28.2M

The financing round was backed by investors including British Patient Capital and In-Q-Tel to support expansion plans.

"Pragmatic is another great example of a UK company which has developed and commercialised world-leading technology from a UK base. We are delighted to be investing in the further growth of this homegrown semiconductor manufacturing business via Future Fund: Breakthrough, our dedicated deeptech fund which is investing in some of the country's most innovative and dynamic businesses."
— Catherine Lewis La Torre, CEO
Series B
£30.0M

The funding round was led by ABC Impact to accelerate global deployment of the company liquid cooling technology.

"This significant investment, one of the largest amounts recently invested in liquid cooling, is a testament to the great work of our designers for our customers across the globe, as well as the many technology and channel partners that have placed their trust in our ability to cool data centre servers more efficiently in a vertical rack form factor. Given the global importance of the data centre sector, which can only increase as edge facilities proliferate and extend to the far reaches of civilization, we look forward to accelerating our global deployment plan with the help of our new and existing investment partners."
— David Craig, CEO
Series A
£38.0M

The financing was co-led by Lansdowne Partners and The University of Tokyo Edge Capital Partners.

"Quantum computing promises to be the next frontier of innovation, and OQC, with its state-of-the-art Coaxmon technology, aims to integrate the forefront of modern physics into our everyday lives. UTEC is honoured to be part of OQC’s mission of making quantum technology accessible to all and will support OQC’s expansion into Asia-Pacific through collaborations with academia including the University of Tokyo, and partnerships with Japan’s leading financial and tech corporations."
— Lenny Chin, Principal
Series B
£36.7M

The Series B round was led by Autodesk with backing from Lockheed Martin and British Patient Capital.

"When people think of manufacturing, they tend to think of robotic car factories, and don’t realise that the industry is dominated by craft processes reliant on dwindling expert knowledge. This makes it incredibly complex to get things made, stifling the pace of innovation,"
— Theo Saville, CEO and co-founder
Series C
£66.8M

The Series C financing was led by Advent Life Sciences with backing from several new and existing institutional investors to accelerate product development and scale operations.

"We are delighted to partner with Proximie and a world class group of investors as the company expands its global footprint and product capabilities. The company is a perfect fit for our ethos of backing best-in-class innovative life sciences businesses that have the capability to positively impact human health and healthcare delivery in paradigm changing ways."
— Shahzad Malik, General Partner
Series B
£50.0M

The financing round was co-led by Tencent and Flerie Invest to support Phase 1b clinical studies and pipeline expansion.

"This major fundraise is a substantial validation of both our team and our world-leading technology. We are fortunate to have the support from new and current investors who have recognised the importance of the microbiome's therapeutic potential and Microbiotica's unique capabilities."
— Mike Romanos, Co-Founder and CEO
Series B
£45.0M

The Series B round was led by New Science Ventures to support international growth and manufacturing expansion.

"Our increasing desire for continually improving electronic device performance paired with the absolute necessity to reduce our power requirements, and hence carbon footprints, demands new technology solutions – next generation materials will be at the heart of this. At Paragraf we are proud to be leading the way, bringing the first 2D material, graphene, into the electronic product supply chain, through our first products, allowing its transformational, game changing properties and benefits to be harnessed."
— Simon Thomas, CEO
Series C
£150M

Nyca Partners led the Series C round, which values the business at over $1bn and includes backing from several major global banks.

"We are delighted to have earned the support of our new and existing investors as we continue to move the world’s leading banks into the cloud. We set out to eradicate legacy technology from the industry and ensure that all banks deployed on Vault can succeed and deliver on their ambitions. These new funds will accelerate the delivery of Vault into banks around the world who wish to implement their future vision of financial services."
— Paul Taylor, Founder
Series D+
£60.0M

The financing round was backed by Tencent, British Patient Capital, CMB International, Mayfair Equity Partners, and IP Group.

"The metaverse concept is not new to Ultraleap. It has always been our mission to remove boundaries between physical and digital worlds. The pandemic has accelerated the rise of the term as more people now understand the power of enhancing the physical world with digital elements."
— Tom Carter, CEO
Series B
£27.5M

The Series B round was led by Lakestar with backing from institutional investors and venture funds to support team growth and product expansion.

"accuRx’s product has reinvigorated communication with our patients, enabling a better relationship between GPs and patients, which has ultimately led to better care provision. Our patients now have the confidence that they’re getting speedy and accurate responses from our team, and the use of regular Florey questionnaires to gather more information from our patients has been transformative for clinical record keeping and the care we provide. We’re thrilled that accuRx has received funding which will enable it to expand its primary care product set, some of which we’re trialling at the moment. We’re also excited about accuRx’s progress into secondary care as better interaction between primary and secondary care is a huge step forward for safer and more effective patient care."
— David Triska, GP Partner
Series B
£32.2M

Eurazeo Growth led the extension round, backed by British Patient Capital and SEB, to support international expansion and product development.

"The prospect of transitioning to cloud native technology is now at the forefront of every major bank’s roadmap. Plans have been hastened in the wake of regulatory pressure, economic uncertainty and the need to manage cost-income ratios. Our flagship core banking product, Vault, brings the best in agility, resilience and security and is being used by major banks and fintech companies around the world. We are delighted to partner with Eurazeo Growth, British Patient Capital and SEB, which demonstrates ongoing investor interest in our technology and the significant market opportunity we are addressing."
— Paul Taylor, Founder
Series C
£51.2M

Evolution Equity Partners led the Series C financing alongside participation from British Patient Capital, ABN AMRO Ventures, Dawn Capital, AlbionVC, HSBC and Accenture Ventures.

"We are thrilled that Evolution Equity Partners and British Patient Capital will be joining our team, alongside the strategic investment from ABN AMRO Ventures. Together with the continued trust and commitment from our existing investors, we will drive the next phase of Quantexa’s growth. We are seeing a huge demand for our platform to support multiple applications across our core markets in financial services and within new industry sectors. This investment will accelerate our product innovation roadmap and enable us to invest further into Europe, North America and Asia Pacific regions, as well as expand into new locations."
— Vishal Marria, CEO