Bristol based early stage investor secures £15m to support ‘deep tech’ startups

British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, today announces a commitment of up to £15m to Science Creates Ventures (SCV) through the Regional Angels Programme.

The majority of this commitment will be allocated to invest alongside SCV Fund 2, while a smaller portion of the commitment will be used for co-investments through the existing SCV EIS Fund (SCV Fund 1).

The commitment will allow SCV to invest in deep tech companies at the Pre-seed, Seed and Series A stages, primarily supporting businesses which focus on improving healthcare, quality of life and the environment.

Science Creates Ventures, headquartered in Bristol and part of the Science Creates ecosystem, is an early stage investor focusing on UK based deep tech companies.

Science Creates also comprises two incubators in Bristol, supporting deep tech entrepreneurs with purpose-built laboratory space and is committed to helping scientific founders translate research out of the lab to deliver innovation and impact to society.

Judith Hartley, CEO, British Business Investments, commented: “This commitment from British Business Investments will support early-stage UK deep tech businesses that are committed to improving healthcare, quality of life and the environment.

“Science Creates Ventures will be investing across the UK, with a particular focus on South West England, thereby helping to reduce regional imbalances in access to finance.

“The Regional Angels Programme plays a vital role in developing the early-stage funding ecosystem across the UK regions and nations, bringing together finance, business experience and skills to support the development of high-growth small businesses.’’

Harry Destecroix, managing partner, Science Creates Ventures, added: “We are delighted to receive the support of British Business Investments towards our mission to support scientists to transition out of the lab to deliver solutions to the world’s most pressing problems.

“We believe there is an enormous amount of untapped potential sitting in universities across the UK and with the support of SCV and the broader Science Creates ecosystem, we believe we can help unlock this potential.

“We’ve enjoyed working with the British Business Investments team so far and value their support and enthusiasm and look forward to continuing to deliver on our mission across the broader UK deep tech ecosystem.”

By Matthew Neville – Correspondent, Bdaily

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