British Business Bank Commits £180m to Six AI and Deeptech VC Funds
The UK state-owned investor is backing six venture funds focused on artificial intelligence and deeptech, with commitments ranging from £20m to £55m.
AfroEuropa Newsroom
AfroEuropa desk
The British Business Bank has announced it is putting £180m into six venture capital funds focused on artificial intelligence and deeptech, according to reporting by Sifted and Tech.eu.
The state-owned investor is committing £35m to the Crane III fund from London-based Crane Ventures Partners, which backs founders from inception through to seed stage, and £20m to Connect Ventures' Connect V fund, which supports companies at pre-seed. It is also investing £22m in Entrepreneurs First's early-stage fund, run by Matt Clifford.
Further commitments include £55m to Intrepid Growth Partners' Fund I, a growth fund dedicated to AI; £26m to the EU VIII fund from global investor Headline; and £22m to Evantic Fund I, associated with Matt Miller.
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