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<p>The Government recognises the importance of scale-up finance for breakthrough technology
firms. Since launch in 2018, British Patient Capital (BPC) has committed more than
£1.6bn into innovative later stage firms, with a further £9.1bn invested alongside
it by private investors.</p><p> </p><p>Future Fund: Breakthrough, launched by BPC
in 2021, is a £375m programme enabling direct co-investment into promising later stage
R&D-intensive UK businesses. The programme has made twelve investments totalling
over £80m, including six investments into deeptech companies, making BPC the UK’s
most active late-stage investor in deeptech in rounds above £30m. BPC recently invested
£10m in Cambridge-based manufacturer PragmatIC Semiconductor.</p>
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