Annual Report and Accounts 2024

British Patient Capital – Annual Report 2024

Key highlights include:

• Across its three programmes, British Patient Capital manages assets with a total value of £3,125m.
• In 2023/24, British Patient Capital made 10 new fund commitments and 5 new co-investments from the core programme, and 10 direct investments via Future Fund: Breakthrough, totalling £66m.
• Investments since inception totalled £2.287m across 80 fund commitments, 10 co-investments, and 18 Future Fund: Breakthrough deals.
• The funds in which British Patient Capital has invested have raised a further £13.4bn from third party investors.
• Analysis undertaken by the British Business Bank shows that since British Patient Capital was established, the UK has narrowed its overall VC investment gap with the US.