Annual Report and Accounts 2022 - British Patient Capital

British Patient Capital – Annual Report 2022

Key highlights include:

• Across its three programmes, British Patient Capital now manages assets with a total value of £3,075 million.
• Investments since inception totalled £1,635 million across 61 fund commitments, four co-investments and five Future Fund: Breakthrough deals.
• Total commitments, including capital from other institutional investors, now total more than £10.7 billion.
• In 2021/22, we made 10 new fund commitments and two co-investments from the core programme, with a total value of £341 million.
• The total portfolio Internal Rate of Return since inception for the core programme was 32.9% to end of March 2022, compared to 25.3% in March 2021.
• The portfolio TVPI of the core programme was 1.80x, up from 1.51x the previous year.