British Business Bank commits £50 million to Phoenix Court, boosting capital for the UK’s high-growth technology and science companies.
The investment, made alongside M&G, NatWest and HSBC, will support Phoenix Court’s funds as they back British businesses from early-stage startups through to scale-ups.
The move comes as the UK remains the world’s third-largest venture capital market, but more than 80% of scale-up capital raised by successful UK companies still comes from overseas investors.
Phoenix Court’s existing Solar program has backed 18 companies, which collectively generate billions in annual revenue and support thousands of UK jobs.
For Black and Brown founders, the commitment could create another route into venture funding, if Phoenix Court expands access beyond the networks that have traditionally dominated Britain’s startup ecosystem.
The investment reflects the growing pressure to ensure UK companies can scale without moving their ownership, intellectual property and economic value abroad.
