British Business Bank

Its Future Fund: Breakthrough programme, delivered by British Patient Capital, co-invests with private investors in later-stage, R&D-intensive UK companies. It targets technologies such as quantum computing, cleantech and life sciences, where development requires substantial capital.

Applications to that programme come from a qualifying sponsor investor, rather than directly from the company. The published criteria require a round of at least £30 million, with the programme contributing no more than 30% on the sponsor investor’s terms.