British Business Bank backs next generation of UK science-led startups tackling critical health and environmental challenges
The British Business Bank has agreed to commit up to £46m to Zinc Capital Management’s second institutional fund, the Science-for-Impact Fund, helping to accelerate the creation and growth of innovative UK deep tech startups tackling critical health and environmental challenges.
The commitment, made through the Enterprise Capital Funds programme, will support Zinc’s Science-for-Impact investment strategy, which backs entrepreneurs from the earliest stages of company creation and helps transform scientific breakthrough ideas across the UK into scalable businesses. The investment follows the Bank’s previous commitment to Zinc II in 2022 and will enable Zinc to expand its support for founders.
As the largest investor in UK venture and venture growth capital funds, the British Business Bank regularly makes cornerstone commitments, enabling funds to achieve a first close and helping funds to execute their planned strategy more effectively and often to a greater scale.
Zinc’s Science-for-Impact Fund is targeting £70m fund size and building a portfolio of 80 new deep tech companies. The fund’s strategy aligns closely with the government’s Industrial Strategy priorities across Advanced Manufacturing, Clean Energy, Life Sciences, as well as engineering, biology and AI.
Zinc is a specialist early-stage investor and venture builder that works with founders at the point where access to finance is often most limited. Through a hands-on approach that combines capital, venture-building expertise and founder support, Zinc helps entrepreneurs develop high-potential ideas into investment-ready businesses.
The firm has built a portfolio of innovative UK companies addressing significant societal challenges, including SignaCor (first in class therapeutics for heart disease), Epiome (an AI-powered biomarker platform for neurodegenerative diseases), Speek (a digital clinical care platform for teenage self-harm), Spine (an AI operating system for grid-scale battery asset management), and CellMine (a waste-free process to recycle lithium-ion batteries).
Mark Sims, managing director, head of Development Equity Funds, British Business Bank, said: “Breakthrough businesses need support from the very earliest stages if they’re to realise their potential. Zinc has a strong track record of backing founders tackling significant health and environmental challenges, and we’re pleased to support the next phase of its growth. Our commitment to Zinc will help strengthen the pipeline of innovative businesses driving the UK’s future economy.”
Ella Goldner, co-founder and managing partner, Zinc said,”The UK is home to some of the world’s most extraordinary scientific talent, yet too many breakthrough discoveries never become the companies that improve lives, protect our planet and create long-term economic value. We founded Zinc to change that by partnering with exceptional scientists and entrepreneurs across the UK at the earliest stages, helping transform world-class research into ventures that deliver lasting impact in health and the environment while building the globally significant businesses of the future. We are proud to continue our partnership with the British Business Bank, whose long-standing support reflects a shared conviction that backing ambitious founders early is one of the most powerful ways to strengthen the UK’s innovation economy.”
Misodzi Mukungurutse, senior investment manager, Development Equity Funds, British Business Bank said: “What sets Zinc apart is its ability to work closely with founders from day one, helping turn promising ideas into investable businesses. That hands-on approach, combined with a clear Science-for-Impact strategy, positions the fund well to support the UK’s next generation of innovative startups.”
The Bank’s Enterprise Capital Funds programme aims to increase the supply of equity capital to early-stage UK companies with long-term growth potential and lower barriers to entry for fund managers looking to operate in the VC market, including providing a return structure that makes it more attractive to private sector investors.