British Patient Capital | Venture Capital

Our Strategy At British Patient Capital

With £2.5bn to invest over 10 years in venture and venture growth capital, British Patient Capital is the largest domestic investor in venture and venture growth capital in the UK. We can:

Increase the amount of long-term investment available for innovative UK companies wanting to scale up
Demonstrate to other investors that a long-term patient capital investment strategy can produce attractive financial returns
Encourage more investors into making allocations to this asset class

We also work alongside institutional investors to unlock an additional £5bn of patient capital investment. This means we expect a total of £7.5bn to back the continued development of innovative firms that need access to longer-term funding.

Once we have established a strong track record, built our portfolio and proved the value of patient capital as an asset class, the intention is that British Patient Capital will be privatised

British Patient Capital Review

Historically, a lack of patient capital has held back many firms from scaling up and reaching their full potential. This leads to some firms being sold too early to trade buyers and failing to realise their economic promise within the UK.

As part of the British Patient Capital Review the government consulted on potential barriers to accessing finance and the means to overcome them. Following the review’s conclusion in November 2017 the Chancellor announced an action plan to unlock over £20 billion to finance growth in innovative firms over 10 years. The plan included additional resources for the British Business Bank, and the creation of its commercial subsidiary, British Patient Capital.

Our Heritage

Established in 2018, British Patient Capital builds on over a decade of investing £1bn in venture and venture growth capital funds. Several of these funds are now major names in UK venture, and many of our team bring with them the experience, knowledge and relationships gained working in predecessor programmes. These relationships and our reputation allow us to see and take advantage of opportunities others may not.

British Patient Capital is the trading name of British Patient Capital Ltd, a wholly owned commercial subsidiary of British Business Bank plc, registered in England and Wales, registration number 11271076, registered office at Steel City House, West Street, Sheffield S1 2GQ. It is not authorised or regulated by the PRA or FCA. British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. A complete legal structure chart for British Business Bank plc and its subsidiaries can be found at British Business Bank plc website.

Overview

Registered office address: Steel City House, West Street, Sheffield, S1 2GQ
Company type: Private limited company
Incorporated on: 22 March 2018
Status: Active

Key filing dates

Accounting reference date: 31 March
Last accounts made up to: 31 March 2019
Next accounts due: 31 March 2021
Last confirmation statement date: 21 March 2020
Next confirmation statement due: 4 April 2021

Nature of business (SIC)

66300 Fund management activities

People

Officers:
7 officers / 2 resignations

Secretary AMARASEKARA, Shanika ACTIVE
Appointed: 22 March 2018
Correspondence address: Steel City House, West Street, Sheffield, England, S1 2GQ

Director CUMMINGS, Russell ACTIVE
Nationality: British
Appointed: 13 June 2018
Date of birth: June 1964
Correspondence address: Steel City House, West Street, Sheffield, S1 2GQ
Country/State of Residence: England
Occupation: Company Director

Director LEWIS LA TORRE, Catherine Elizabeth ACTIVE
Nationality: British
Appointed: 22 March 2018
Date of birth: September 1965
Correspondence address: Steel City House, West Street, Sheffield, England, S1 2GQ
Country/State of Residence: United Kingdom
Occupation: Chief Executive Officer

Director MOORE, Hazel Caroline ACTIVE
Nationality: British
Appointed: 1 June 2019
Date of birth: July 1968
Correspondence address: Steel City House, West Street, Sheffield, S1 2GQ
Country/State of Residence: England
Occupation: Director

Director MORGAN, Keith Charles William ACTIVE
Nationality: British
Appointed: 22 March 2018
Date of birth: December 1963
Correspondence address: Steel City House, West Street, Sheffield, England, S1 2GQ
Country/State of Residence: England
Occupation: Chief Executive Officer

Director GARNHAM, Peter John RESIGNED
Nationality: British
Appointed: 22 March 2018
Date of birth: February 1954
Resigned: 13 June 2018
Correspondence address: Steel City House, West Street, Sheffield, England, S1 2GQ
Country/State of Residence: South Yorkshire, England
Occupation: Bank Officer

Director GLOVER, Anne Margaret RESIGNED
Nationality: British
Appointed: 13 June 2018
Date of birth: February 1954
Resigned: 9 October 2018
Correspondence address: Steel City House, West Street, Sheffield, S1 2GQ
Country/State of Residence: England
Occupation: Venture Capitalist

Persons with significant control:

2 active person with significant control / 0 active statements

Bbb Patient Captial Holdings Ltd ACTIVE
Correspondence address: Steel City House, West Street, Sheffield, England, S1 2GQ
Notified on: 26 March 2018
Governing law: Companies Act 2006
Legal form: Private Company Limited By Shares
Place registered: Companies House
Registration number: 11270966
Incorporated in: England And Wales

Nature of control:

Ownership of shares – 75% or more
Ownership of voting rights – 75% or more
Right to appoint and remove directors

Bbi & Bpc Holdings Limited ACTIVE
Correspondence address: Steel City House, West Street, Sheffield, England, S1 2GQ
Notified on: 22 March 2018
Governing law: England And Wales
Legal form: Public Limited Company
Place registered: Companies House (England And Wales)
Registration number: 11270966
Incorporated in: England

Nature of control:

Ownership of shares – 75% or more
Ownership of voting rights – 75% or more
Right to appoint and remove directors

Recent Filing History

Recent Filing History
Date	Form	Description
3 Apr 2020	CS01	Confirmation statement made on 21 March 2020 with no updates
1 Nov 2019	AA	Full accounts made up to 31 March 2019
5 Jun 2019	AP01	Appointment of Ms Hazel Caroline Moore as a director on 1 June 2019
3 Apr 2019	RESOLUTIONS	Resolutions RES10 – Resolution of allotment of securities
2 Apr 2019	AD03	Register(s) moved to registered inspection location 8 Salisbury Square London EC4Y 8AP
2 Apr 2019	AD02	Register inspection address has been changed to 8 Salisbury Square London EC4Y 8AP
22 Mar 2019	CS01	Confirmation statement made on 21 March 2019 with updates
22 Mar 2019	PSC02	Notification of Bbb Patient Captial Holdings Ltd as a person with significant control on 26 March 2018
8 Mar 2019	SH01	Statement of capital following an allotment of shares on 7 March 2019 GBP 195,722,540
15 Oct 2018	TM01	Termination of appointment of Anne Margaret Glover as a director on 9 October 2018
23 Jun 2018	AP01	Appointment of Mr Russell Cummings as a director on 13 June 2018
13 Jun 2018	AP01	Appointment of Ms Anne Margaret Glover as a director on 13 June 2018
13 Jun 2018	TM01	Termination of appointment of Peter John Garnham as a director on 13 June 2018
1 Jun 2018	PSC05	Change of details for Bbi & Bpc Holdings Limited as a person with significant control on 22 March 2018
22 Mar 2018	NEWINC	Incorporation Statement of capital on 2018-03-22 GBP 1