British Patient Capital commits $50m to Atomico V
British Patient Capital, a subsidiary of the British Business Bank, has committed $50m to Atomico’s fifth fund, as Atomico announces its final close today at $820m.
The Fund will invest primarily at Series A, backing founder led companies across consumer, enterprise and frontier technologies. At $820m, Atomico V also has the capital to support significant later-stage funding rounds.
Niklas Zennström, Founding Partner and CEO of Atomico, said: “LP support is vital to the success of a strong and healthy tech ecosystem. British Patient Capital has been a critical component of this in the UK. As well as providing long term patient capital, British Patient Capital's strong focus on diversity and inclusion proved to us that they are a strong partner aligned with Atomico’s mission and values. We are proud to have British Patient Capital as an LP in Atomico V.”
Catherine Lewis La Torre, CEO, British Patient Capital, said: “Our mission is to enable long-term investment in innovative companies across the UK, led by ambitious entrepreneurs who want to build successful world-class businesses.
“The Atomico team has backed some of the UK’s most promising early-stage companies and supported these with both the capital and operational expertise to scale internationally.
With a fund size capable of investing at Series B and beyond, Atomico will be able to support its most promising companies throughout the growth stage, and its focus on helping founders build responsible companies that last, aligns well with British Patient Capital’s mandate.”
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