British Business Investments commits up to £15m to Science Creates Ventures

 8 November 2022

British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, today announces a commitment of up to £15 million 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. Science Creates wants to ensure that new scientific discoveries with the potential to radically improve lives and the world make it off the shelf, no matter where they are found.

Judith Hartley, CEO, British Business Investments, said: “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 eco-system across the UK regions and nations, bringing together finance, business experience and skills to support the development of high-growth smaller businesses.’’

Harry Destecroix, Managing Partner, Science Creates Ventures, said: “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”

ENDS

Further information

Suzanna Jebbitt
Senior Communications Manager
t.   +44 (0)20 7898 5829
m. +44 (0)78 2755 2301
e.  suzanna.jebbitt@british-business-bank.co.uk

British Business Investments team at MHP Communications
t.  +44 (0)20 3128 8589
e.  bbb@mhpc.com

Notes to Editors

About British Business Investments

British Business Investments Limited is a wholly owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank.  British Business Investments aims to earn a commercial return by investing – through finance providers – in smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any economic advantage from the government. Find out more at bbinv.co.uk.

The Bank and its subsidiary entities are not banking institutions and do not operate as such.  They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.

The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc or its subsidiaries or any other party of Science Creates Ventures or its products or services.

About Science Creates Ventures

Science Creates Ventures (SCV) is a Bristol-based venture capital firm offering investment into early-stage deep tech companies, focusing on technologies that have the potential to improve healthcare, quality of life, and the environment around us.

Science Creates Ventures was founded to back exceptional teams building game changing UK-based deep tech companies with investment and qualified mentorship. We get excited by truly standout technology that has the potential to disrupt existing industries or create entirely new ones, and we love investing at the early stages of a company’s journey.

We’re a team of serial entrepreneurs, investors and scientists who have unique insight into the challenges facing young deep tech companies and we’re supported and backed by successful entrepreneurs behind multiple tech and deep tech exits in the South-West. We bring a hands-on, tailored approach to supporting and mentoring our portfolio companies, focusing on setting them on the best path for growth and success from the outset.

SCV is part of the Science Creates ecosystem, with two incubators in Bristol, offering over 45,000 sqft of purpose-built laboratory space, flexible offices and event space, alongside the support of a network of academic institutions, strategic delivery partners, advisors and mentors.