4:41 PM
 | 
Jun 13, 2018
 |  BC Extra  |  Financial News

British Business Bank launches patient investment fund

British Business Bank launched British Patient Capital on Wednesday, a £2.5 billion ($3.4 billion) investment fund that the bank will invest in U.K. businesses, including bioscience companies, alongside private investors.

British Patient Capital fulfills a commitment in the Chancellor’s 2017 Autumn Budget, in which plans for the fund were unveiled (see BioCentury Extra, Nov. 22, 2017).

BBB will transfer about £400 million ($537 million) to the British Patient Capital, including a £9 million ($12 million) investment in the Dementia Discovery Fund.

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