British Growth Partnership Fund I
British Growth Partnership Fund I
Last refreshed: 13 May 2026
Timeline for British Growth Partnership Fund I
Elliptic closes $120m crypto compliance round
UK Startups and Innovation- What is the British Business Bank British Growth Partnership Fund?
- British Growth Partnership Fund I is a British Business Bank vehicle that makes direct co-investments alongside private VC leads to catalyse institutional capital into UK growth companies.Source: British Business Bank
- How does the British Business Bank invest in UK startups?
- Through vehicles like British Growth Partnership Fund I, the BBB co-invests alongside private VC leads in scale companies, taking minority positions to crowd in additional institutional capital without distorting round pricing.Source: Lowdown uk-startups-and-innovation U#4
Background
British Growth Partnership Fund I participated in both the Quantum Motion £40m Series C and the Elliptic $120m Series D in May 2026. The fund is a British Business Bank vehicle that invests as a limited partner into venture and growth-equity funds, as well as making direct co-investments alongside private-sector leads — a model designed to catalyse private capital into UK growth companies.
British Growth Partnership Fund I is one of the British Business Bank's direct co-investment vehicles, operating as a fund-of-funds and co-investment structure to crowd in institutional capital. It is distinct from the BBB's earlier British Patient Capital programme and reflects the Bank's evolution toward more direct market participation alongside private VC leads. By taking a minority co-investor position in rounds led by established private firms (DCVC, One Peak), the Fund validates deals without distorting pricing.
The dual appearance in one briefing cycle — quantum hardware and crypto compliance — illustrates the Fund's broad mandate: it is not sector-restricted and will back high-growth UK technology companies across deep-tech, fintech, and other priority sectors. For scale companies that have already secured private lead investors, the Fund represents incremental institutional capital with a favourable public-ownership signal.