Empirical Ventures

The British Business Bank has announced an additional £10 million commitment to Empirical Ventures through its Regional Angels Programme, increasing its total support to £15 million. This funding will accelerate Empirical Ventures' mission to invest in 'venture scientists' across the UK, focusing on science-led businesses from novel energy generation and advanced materials to next-generation life sciences.

Summary of transaction details:

• Value: £10 million (additional commitment)
• Sector: Venture Capital (DeepTech, Life Sciences focus)
• Advisor: Not specified
• Key Entities: Empirical Ventures (Target), British Business Bank (Investor)
• Location: UK-wide focus for investments

Note: This commitment from the British Business Bank aims to empower Empirical Ventures to provide crucial financial fuel and specialised support to scientific founders, helping them translate cutting-edge research into category-defining global companies, particularly outside of traditional London-centric funding hubs. The partnership seeks to address the funding gap for deep technology ventures.