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British Business Bank invites applicants for the National Security Strategic Investment Fund Programme to support development of advanced dual-use technologies

Wednesday September 26th, 2018

The British Business Bank is inviting early-stage venture and growth capital fund managers to apply for the National Security Strategic Investment Fund (NSSIF) Programme, and for other investors to explore how they might invest alongside the Bank in the programme.Government Opportunities

The NSSIF Programme will support long-term equity – ‘patient capital’ – investment in advanced technologies to build on the UK’s role as both a leading centre for innovation and as a global hub for venture capital.

It aims to combine the best expertise from the public and private sector to foster the growth of high potential UK companies and support the development of dual-use advanced technologies which can contribute to the national security mission.

The NSSIF Programme operates in conjunction with the Bank’s existing Enterprise Capital Fund (ECF) and British Patient Capital (BPC) programmes, which aim to increase the volume, diversity and accessibility of longer term finance so that smaller businesses can access the finance they need to achieve their growth ambitions
As well as fulfilling the requirements of either the ECF or BPC programme, applicants will also need to demonstrate strong alignment with the NSSIF Programmes objectives and requirements, in particular through their proposed investment strategy and technical expertise.

The £85m NSSIF Programme was first announced by the Chancellor as part of the Autumn Budget 2017. The Programme will remain open for applications until the existing available funds have been committed, or such earlier time as the Bank determines. Depending on the success of its initial phase, future funding allocations may become available.

More information on NSSIF, and links to relevant programme guidance, is available at https://www.british-business-bank.co.uk/national-security-strategic-investment-fund/, or interested parties can contact the British Business bank team at nssif@british-business-bank.co.uk.

A set of briefing slides can be viewed here.

Keith Morgan, CEO, British Business Bank, said:

“The NSSIF programme is designed specifically to increase the amount of patient capital available to high growth potential innovative tech businesses.

Early-stage venture and growth capital fund managers with expertise in the field of security technology can download our programme guidance from our website.

We are also encouraging GPs, LPs and potential co-investors to make contact with the British Business Bank to explore how they can get involved.”

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