British Business Bank commits £30m to Atempo Growth II
The British Business Bank has made a commitment of £30m to Atempo Growth’s second fund, Atempo Growth II. The fund has held its first close with commitments exceeding €300m, bringing Atempo Growth’s total assets under management to over €700m.
Founded in 2021 by Luca Colciago, Jack Diamond, and Matteo Avramov Giulivi, Atempo Growth is a growth debt fund supporting high-growth tech startups from Series A through to pre-IPO. The team has extensive experience, having invested in 32 companies through its debut fund, Atempo Growth I, which was also previously backed by the British Business Bank.
Building on the strategy of its inaugural fund, Atempo Growth will continue to provide non-dilutive finance to high-growth technology businesses across a range of sectors.
Adam Kelly, managing director and co-head of funds, British Business Bank, said: “We are pleased to continue our support for Atempo Growth, having backed their inaugural venture debt fund in 2022. This new commitment to Atempo Growth’s second fund will support high-growth UK technology companies to access the finance they need to unlock rapid growth.”
Tina Page, chief operating officer, Atempo Growth, said: “We’re delighted to have the continued support of British Business Bank and our cornerstone investors as we launch Atempo Growth II. Surpassing €700m in assets under management marks a significant milestone for our platform, giving us the opportunity to further build on our platform in support of technology across the UK and wider Europe.”