British Business Bank Investments Limited, the commercial arm of the British Business Bank, today announces that its Venture Capital Catalyst Fund has invested €13m (£10m) in the first close of Atlantic Bridge III, a new €140m Fund for technology companies with global market scalability.
Atlantic Bridge III will invest in up to 20 companies and will focus on scaling businesses in the UK, Ireland and across Europe in high growth enterprise technology sectors including cloud, big data, augmented and virtual reality software, robotics and internet of things. The investment from British Business Bank Investments will help Atlantic Bridge scale up its existing operations in the UK as it seeks to continue to invest in the UK’s high growth tech sector.
Other participants in the new Fund include existing Atlantic Bridge investors, the Ireland Strategic Investment Fund, Enterprise Ireland and the European Investment Fund, along with other new institutional investors and pension funds.
Atlantic Bridge is one of the largest European technology funds, with offices in Dublin, London, Silicon Valley, Beijing and Hong Kong. The latest Fund brings the total assets under management of Atlantic Bridge to €400m.
Atlantic Bridge, using its international platform and ‘Bridge Model’, has scaled a range of European companies into the US and Chinese markets – the key markets for technology companies. Atlantic Bridge currently has over 20 companies in its funds’ portfolio, and has realized investments across 12 firms with proceeds totaling over €1.7bn.
Keith Morgan Chairman of British Business Bank Investment Ltd said,: “Atlantic Bridge’s new fund will allow it to significantly enhance its footprint in the fast-growth UK technology sector. We have been impressed by the team who between them have extensive operational experience and real passion for the sector. We are really pleased to back the new fund and look forward to working together as they increase their exposure to the vibrant UK technology sector.”
Kevin Dillon, Managing Partner of Atlantic Bridge, London, said, “We are delighted to launch Atlantic Bridge III. We already have a number of pipeline investments identified for the Fund and are confident that this will build on the track record of success of our previous Funds. As a growth equity stage Fund, Atlantic Bridge III will focus on taking companies with a solid and exciting business model to the next level, scaling them into key international markets like the US and China.”
For more information:
Kevin Dillon, email@example.com
Eugene Hogan, Bridge PR firstname.lastname@example.org +353 87 2497290
British Business Bank
Scott Shearer, Scott.Shearer@british-business-bank.co.uk
Nick Taylor, Seven Hills, Nick.Taylor@wearesevenhills.com; Tel: +44 20 7199 6185
About Atlantic Bridge
Atlantic Bridge Capital is a Global Technology Fund with over €400 million of assets under management across four Funds, investing in technology companies in Europe. We have offices and staff based in London, Dublin, Silicon Valley, Beijing & Hong Kong.
The Fund is focused on investing primarily at the expansion capital and growth equity stages in companies that have started to scale in revenues with a proven business model with evidence of market uptake and customer adoption. Atlantic Bridge has developed a unique and differentiated strategy which focuses on specific technology themes and the implementation of the “Atlantic Bridge Model” for scaling companies internationally. The “Bridge Model” accelerates the scale up of technology companies in the US and Chinese markets. This approach is highly differentiated and has delivered strong performance results to date. The team has a thirty year operating history working together in technology as entrepreneurs and investors with over $7 billion in exits, having raised four successful technology funds.
About British Business Bank Investments Limited
British Business Bank Investments Limited is the commercial arm of the British Business Bank. It aims to earn a commercial return by investing through providers of finance to smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any advantage from the government.
British Business Bank Investments Limited is a wholly owned subsidiary of British Business Bank plc, the UK government’s economic development bank. Neither entity is authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).
British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.
The Business Finance Guide, jointly published by the British Business Bank and the ICAEW, is a unique guide that sets out the full range of options available for smaller businesses looking to raise finance and offers advice to help companies plan for growth.
15th May 2019British Business Investments commits €27m to Bootstrap Europe II
2nd May 2019British Business Investments commits £50m to BOOST&Co’s Second Fund
6th March 2019Beechbrook Capital’s second UK SME Credit Fund reaches first close at £128m and completes first two investments
18th February 2019British Business Investments commits £20m to ThinCats to provide more debt finance to UK businesses
29th October 2018Autumn Budget 2018
23rd October 2018British Business Investments – Full year results for the period ending 31 March 2018
23rd October 2018British Business Investments Annual Report 2018
2nd October 2018British Business Investments makes £25m Tier 2 investment in Secure Trust Bank PLC
1st October 2018British Business Investments launches new £100m programme to support regional angel investment
1st October 2018Catherine Lewis La Torre appointed CEO of British Business Bank’s commercial patient capital activities
27th June 2018British Business Investments commits £31.15m to IQ Capital Fund III to support deep tech companies
16th May 2018British Business Investments provides £12m to asset finance specialist Universal Leasing Ltd
15th May 2018British Business Investments launches new £500m programme to increase access to patient capital
3rd May 2018Growth Capital firm Oxx announces first close of debut fund with commitment from British Business Investments
17th April 2018British Business Investments commits to Dawn Capital’s new venture capital fund
11th April 2018British Business Investments provides new finance facility to Liberis
28th February 2018British Business Investment commits £20m to new venture capital model from Kindred Capital
6th February 2018British Business Investments commits to a £30m boost for smaller businesses
22nd December 2017British Business Investment’s latest commitment boosts regional finance options for UK smaller businesses
11th December 2017British Business Investments commits £30 million at the first close of Shard Credit Partners first direct lending fund
4th December 2017British Business Investments and IGF to increase SME funding with new cash injection
30th November 2017British Business Investments commits £15m to Balderton’s new $375m fund
24th November 2017Budget 2017
23rd November 2017News from our partners – Seedcamp celebrates 10 year anniversary with £41M first close seed fund to invest in next generation of European entrepreneurs
16th November 2017British Business Investments commits £20m to £100m FPE Capital fund
16th November 2017Catherine Lewis La Torre at this year’s BVCA Summit
21st September 2017BRITISH BUSINESS INVESTMENTS – FULL YEAR RESULTS FOR THE PERIOD ENDING 31 MARCH 2017
21st September 2017VIEW OUR ANNUAL REPORT FOR 2016-17
3rd August 2017British Business Bank Investments Ltd commits €40 million in first closing for Harbert European Growth Capital Fund II.
10th July 2017GCP caps a successful year with a £40m investment from British Business Bank Investments Ltd to complete the final close of Fund IV at £205m
29th June 2017BOOST&Co Limited secures additional £20m commitment from British Business Bank Investments Ltd for its Industrial Lending 1 fund
21st June 2017Atom bank secures £30m Tier 2 capital facility from British Business Bank Investments Ltd
21st April 2017British Business Bank Investments Ltd provides £6.6m of funding to Shire Leasing to boost asset finance for smaller businesses
2nd February 2017Beechbrook Capital closes £150m UK SME Credit I and backs two more businesses
18th January 2017British Business Bank Investments Ltd makes £400m from Autumn Statement available to venture capital funds
5th January 2017British Business Bank expands partnership with Funding Circle
8th November 2016British Business Bank Investments Ltd announces £10m commitment to new £260m technology fund
20th September 2016British Business Bank Investments Ltd – Full Year results for the period end 31 March 2016
20th September 2016View our Annual Report for FY2015-16
13th September 2016British Business Bank Investments Ltd commits £18m to northwest-based asset finance provider, enabling a £36m boost to smaller business growth
3rd August 2016British Business Bank Investments Ltd partner Beechbrook Capital holds first close on latest private debt fund
20th July 2016British Business Bank Investments Ltd provides £16.5m line to Northwest asset finance provider Kingsway under new expansion capital initiative
16th June 2016British Business Bank Investments Ltd names Catherine Lewis La Torre as Chief Executive Officer
17th May 2016British Business Bank Investments Ltd invests in Frog Capital II
14th April 2016British Business Bank Investments Ltd invests £30 million in first close of CORDET Direct Lending fund
31st March 2016British Business Bank Investments Ltd invests in Atlantic Bridge III, a new €140 million fund for Technology companies
22nd March 2016British Business Bank Investments Limited partners with Liberis to support funding for smaller UK businesses
10th March 2016British Business Bank Investments Limited publishes half year results for the six months ended 30 Sept 2015
22nd February 2016View our annual report for FY 2014-2015
19th February 2016British Business Bank Investments agrees £25m facility with Haydock Finance
19th January 2016British Business Bank Investments Ltd invests in new UK Private Debt Fund from Muzinich & Co
19th January 2016British Business Bank Investments Ltd – Annual Results and publication of 2015 Annual Report and Accounts
4th January 2016British Business Bank Investments Ltd-supported Beechbrook Capital’s inaugural UK SME Credit Fund holds first close at more than £100m
29th October 2015British Business Bank’s commercial arm supports UK SMEs with investment in Shawbrook Bank
17th September 2015British Business Bank’s VC Catalyst Fund invests in Nauta
27th March 2015British Business Bank Investments Limited makes €6m clean technology investment
2nd February 2015British Business Bank Investments backs Northwest asset finance provider with £5m investment, introduces new expansion capital initiative
31st October 2014£80 million boost for leasing finance as British Business Bank focuses on alternative lending for smaller businesses
24th September 2014British Business Bank partner BMS Finance provides debt finance to Whittle, one of the UK’s leading commercial painting contractors
2nd September 2014British Business Bank boosts European Capital UK SME fund to £100m to help provide debt finance to UK’s smaller businesses
6th August 2014Making Britain the global centre of financial innovation – £100m extra for British Business Bank Investment Programme
25th February 2014New £40m investment by British Business Bank to support £450m of lending to smaller businesses