British Business Bank backs new UK-dedicated VC fund to support founders from inception
British Business Bank has made a £25m cornerstone commitment to Antler’s UK Fund II to support ambitious founders and innovators across the UK. This is the Bank’s first commitment to Antler.
Founded in 2017, Antler is the world’s most active early-stage investor, investing in tech startups from inception. Antler partners with founders pre-launch of their companies, providing them with resources, coaching, funding, and connecting them with a global network to help them grow and scale.
The Antler platform is active in 27 cities globally, with dedicated funds across Europe, North America, Asia, and Australia. Antler has been present in the UK since 2020, investing at the earliest stages of company formation through its residency programme. The new UK strategy will be Antler’s largest single-location fund to date and will be led by the partner team of Adam French, Hannah Leach and Jed Rose.
The fund will back exceptional founders from inception in the UK, initially committing up to £500k into new UK startups with the potential to support its strongest performers beyond the fund at the growth rounds through its later-stage investment vehicle, Elevate. This enables Antler to uniquely support founders from inception through to scale.
The British Business Bank plays a central role in building a healthy venture capital market by backing funds that invest in high-potential UK entrepreneurs and IP. Antler’s focus on company creation and early-stage investment in the UK aligns closely with the Bank’s objective of strengthening the pipeline of new and investable companies.
The Bank joins a syndicate of primarily UK LPs, including Lloyds Banking Group, demonstrating growing participation from UK institutional investors in the UK’s innovation economy.
Christine Hockley, managing director & co-head of funds, British Business Bank said, “The UK consistently produces exceptional founders and world-leading IP, and we need to give entrepreneurs the tools to take the leap and start building the companies of the future. This fund is dedicated to creating UK companies and will help turn more high-potential ideas into scalable businesses.”
Michael Laycock, investment director, British Business Bank said, “Antler has an established model to support aspiring entrepreneurs from the very start of their journey. We are pleased to support Antler to scale and grow their UK activities. This commitment helps increase the availability of both early-stage capital and support for ambitious UK entrepreneurs as they start their founder journey.”
Adam French, partner, Antler said, “Our new fund is designed to support outlier founders in a new era when speed is everything. Most funds wait for traction, we back with conviction from inception and then create the conditions for founders to move faster than they could anywhere else. This Fund is here to back the world-class founder talent in the UK. Founders can achieve more and move faster than ever before, thanks to AI. There has never been a better time to become a founder in the UK, and we have created a fund that will help exceptional founders realise their full potential.”