British Business Bank has committed up to €100m (£90.4m) to the first European venture capital fund being raised by a San Francisco-based financier. British Business Bank puts €100m into European VC fund of funds.
It is understood that Top Tier Capital Partners is raising e300m in total for its first European fund of funds. The fund will invest in technology and healthcare. Top Tier was unavailable for comment.
The BBB’s investment is its first through its £500m Managed Funds Programme, administered by its British Business Investments subsidiary.