UK venture capital arm to write ‘big cheques’ for tech sector

In its first annual results since being set up last summer, British Patient Capital, which has backed companies such as Revolut and Graphcore through its investment in venture capital funds focused on fast-growing UK businesses, reported a gross return on capital employed of 8.2 per cent.

British Patient Capital said that it had already become the largest domestic investor in venture and venture growth capital in the UK in its first year, making 12 investments with a value of £334m. These, combined with a seed portfolio acquired at launch, takes its portfolio to 31 fund investments of £600m in 322 underlying businesses.

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