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British Business Bank announces €20m commitment to Revaia Growth II

Press release 02 April 2025

The British Business Bank, the UK’s largest domestic investor in venture and venture growth capital, has announced a €20m commitment to Revaia Growth II (the “Fund”), the second fund from Revaia, a leading independent European growth investor.

Revaia invests in high-growth technology scale-ups across Europe and the UK with a focus on sustainable innovation. The firm partners primarily with mission-driven entrepreneurs, helping them scale their companies globally from growth stage to IPO or buyout.

As well as providing capital, Revaia provides hands-on support and has a dedicated ESG team that supports portfolio companies with their sustainability journey. The Fund has already invested in sectors focusing on resilience such as energy transition, AI for insurance and cybersecurity.

The British Business Bank joins a syndicate of global investors and LPs, including Bpifrance, the European Investment Fund (EIF), BNP Paribas Cardif and JP Morgan. The commitment from the British Business Bank has also helped support Revaia’s UK expansion, with the firm establishing a permanent UK presence.

As well as supporting the Bank’s strategic objective to build the modern, green economy, this commitment is also the latest in the British Business Bank’s support for female-led fund managers. Led by founding partners Alice Albizzati and Elina Berrebi, Revaia has built a diverse team that is committed to investing into companies that share its values.

The Bank is expanding access to funding for female entrepreneurs via female-led funds through its existing programmes. This will support the aims of the Invest in Women Taskforce, which is an industry led, government backed initiative committed to increasing finance for female entrepreneurs. The British Business Bank is also a founding signatory of the Investing in Women Code.

Alice Albizzati, Founding Partner at Revaia, said:

Successfully closing Revaia Growth II is a testament to the strength of our team, our strategy, and our investors trust in our ability to scale European tech leaders. With €600 million under management, a strong portfolio, and rapid deployment in high-growth sectors like energy transition and AI, we are reaffirming our ambition: to be the partner of choice for Europe's next tech champions, providing not only capital but also the operational expertise to accelerate their growth. We are excited to continue supporting visionary entrepreneurs who are committed to lasting and sustainable value-creation.

Elina Berrebi, Founding Partner at Revaia, said:

At Revaia, we have built a platform designed for scale – both for our portfolio companies and our own growth as an investment firm. With offices in Paris, Berlin, and now London, a diversified institutional investor base, and a hands-on value-creation approach, we are more equipped than ever to help ambitious founders navigate their scale-up journey. Our model is proving its strength: we invest in companies that scale efficiently and profitably, and with Fund II already 40% deployed and our focus on generating liquidity on Fund I, we are delivering on our promise of high-conviction, high value-add investing.

Christine Hockley, Managing Director and Co-Head of Funds, British Business Bank, said:

Revaia's focus on scaling up sustainable technology businesses will support both our mission of improving access to growth capital in the UK and enabling the transition to a net zero economy by improving access to finance for sustainable businesses. I am also very pleased to welcome another female-led fund to the Bank's funds portfolio unlocking the potential of women across the economy.

Robert Greenwood, Senior Investment Director, Funds, British Business Bank, said:

Revaia is a natural fit for us. The team has strong track record of investing in high potential companies in need of scale up capital but we were impressed by their robust approach to tracking and improving sustainability across their portfolio. Our commitment to this fund will ensure the UK continues to be a key region for investment.

Kyril Courboin, Senior Country Officer of JPMorganChase France:

Revaia has built a powerful platform for investing in Europe’s most promising tech scale-ups. Their strong pan-European presence, sector expertise, and ability to rapidly deploy capital in high-growth companies make them a valuable partner in fostering sustainable innovation. We are delighted to support Revaia through our Spark France initiative* as they continue to back ambitious entrepreneurs and drive long-term value creation in the European technology ecosystem. *In 2023, JPMorganChase announced the creation of Spark France, an investment initiative in partnership with Bpifrance, aimed at providing capital to private investment firms and funds investing in strategies that are positively impacting society and communities and creating growth in more areas of the economy.

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Notes to editors

About British Business Bank

The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to drive sustainable growth and prosperity across the UK and to enable the transition to a net zero economy, by improving access to finance for smaller businesses. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government.

The British Business Bank’s core programmes support over £17.4bn 1  of finance to almost 64,000 2  smaller businesses.

As well as increasing the supply and diversity of finance for UK smaller businesses through its programmes, the Bank works to raise awareness of finance options available to smaller businesses. The British Business Bank Finance Hub provides independent and impartial information to businesses about finance options, featuring short films, expert guides, checklists and articles from finance providers to help make their application a success.

The British Business Bank is also responsible for administering the government’s three Coronavirus loan schemes and its Future Fund, together responsible for delivering £80.4bn in finance to 1.67m businesses. These schemes are now closed to new applications.

British Business Bank plc is a public limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. Wholly owned by HM government, the Bank and its subsidiaries are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for the group and details of each subsidiary and the programme(s) it operates (where applicable) can be found on British Business Bank

The above investment is operated by British Patient Capital Limited, a wholly owned commercial subsidiary of British Business Bank plc.

British Patient Capital Limited is registered in England and Wales with company number 11271076, and registered office at Steel City House, West Street, Sheffield, S1 2GQ. British Patient Capital makes commitments and invests on its own behalf and on behalf of third-party investors whose investments British Patient Capital manages.

The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc, its subsidiaries or any other party in respect of Revaia or its products or services.

About Revaia

Revaia is a leading investor in sustainable innovation, partnering with mission-driven entrepreneurs with global ambitions and sustainable leadership. With the support of major institutions, such as the European Investment Fund, Revaia helps growth-stage companies navigate their entire life cycle from Series B to IPO or buyout. Revaia builds bridges between venture, private equity, and public markets and supports entrepreneurs who are working to transform the world for the better. With offices in Paris, London, and Berlin and a presence in North America, its diverse team brings hands-on expertise and unique go-to-market, AI, product and ESG know-how to the most promising technology scale-ups. Revaia is very proud to be supporting companies such as Acorns, Algolia, Aircall, Ampeco, Coralogix, Deepki, Frontify, Deepki, Fasst, Hublo, Mews, Planity, and Welcome to the Jungle. Find out more about Revaia.

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