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Nuclear Liabilities Fund invests £250m alongside British Patient Capital to enable long term investment in innovative companies across the UK

Thursday April 11th, 2019

British Patient Capital is to manage £250 million on behalf of the Nuclear Liabilities Fund (NLF), investing in venture and growth capital funds, targeting investment in high potential innovative companies across the UK. This is the first third-party source of funds for British Patient Capital and comes only 10 months since the business launched in June 2018. This transaction confirms that British Patient Capital is rapidly establishing itself in the venture capital sector and quickly building its track record.united_kingdom

The investment supports the primary objective of the NLF to achieve sufficiency of the fund to meet certain costs of decommissioning EDF Energy’s eight nuclear power stations that are currently operating in the UK.

Since June last year British Patient Capital has grown its portfolio to 31 funds, which have backed more than 200 businesses to date. With its aim to address the funding gap at the scale-up stage, British Patient Capital is looking forward to working with institutional investors to unlock additional patient capital.

Catherine Lewis La Torre, CEO, British Patient Capital said: “This is an exciting next step in British Patient Capital’s journey. NLF’s investment is testament to British Patient Capital’s investment strategy and establishes our credentials as a professional fund manager of third-party capital.

“We’re delighted that the Nuclear Liabilities Fund shares our confidence in the potential for our investment strategy to deliver attractive commercial returns, which will help them meet their future liabilities. We plan to continue to attract institutional capital to expand institutional investor diversity in the venture and growth asset class.”

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