British Business Bank commits €53.6 million to Zinc’s €81.5 million Science-for-Impact Fund

The British Business Bank has agreed to commit up to €53.6 million (£46 million) to Zinc Capital Management‘s second institutional fund, the Science-for-Impact Fund.

The commitment was made through the Enterprise Capital Funds programme. It will support Zinc’s Science-for-Impact investment strategy, which backs entrepreneurs from the earliest stages of company creation and helps transform scientific breakthrough ideas across the UK into scalable businesses. The investment follows the Bank’s 2022 commitment to Zinc II and will enable Zinc to expand its support for founders.

Mark Sims, Managing Director, Head of Development Equity Funds, British Business Bank, said, “Breakthrough businesses need support from the very earliest stages if they’re to realise their potential. Zinc has a strong track record of backing founders tackling significant health and environmental challenges, and we’re pleased to support the next phase of its growth. Our commitment to Zinc will help strengthen the pipeline of innovative businesses driving the UK’s future economy.”

Founded in 2017, Zinc is a pre-Seed venture capital firm backing ambitious founders building Science-for-Impact companies in health and the environment. It states that it invests at the earliest stages and partners with “exceptional teams” right across the UK, developing breakthrough science and deep technologies with the potential to create category-defining businesses.

Zinc helps founders de-risk scientific innovation, accelerate commercial progress, and build companies that deliver both significant societal impact and long-term value creation through a combination of first-cheque investment and specialist venture-building support.

Its portfolio includes SignaCor (first-in-class therapeutics for heart disease), Epiome (an AI-powered biomarker platform for neurodegenerative diseases), Speek (a digital clinical care platform for teenage self-harm), Spine (an AI operating system for grid-scale battery asset management), and CellMine (a waste-free process to recycle lithium-ion batteries).

Zinc’s Science-for-Impact Fund is targeting a €81.5 million (£70 million) fund size and aims to build a portfolio of 80 new DeepTech companies. The VC firm notes that the fund’s strategy aligns closely with the government’s industrial strategy priorities across advanced manufacturing, clean energy, life sciences, as well as engineering, biology and AI.

Ella Goldner, co-founder and Managing Partner, Zinc, said, “The UK is home to some of the world’s most extraordinary scientific talent, yet too many breakthrough discoveries never become the companies that improve lives, protect our planet and create long-term economic value.

“We founded Zinc to change that by partnering with exceptional scientists and entrepreneurs across the UK at the earliest stages, helping transform world-class research into ventures that deliver lasting impact in health and the environment while building the globally significant businesses of the future. We are proud to continue our partnership with the British Business Bank, whose long-standing support reflects a shared conviction that backing ambitious founders early is one of the most powerful ways to strengthen the UK’s innovation economy.”

With this commitment, the British Business Bank aims to help accelerate the creation and growth of innovative UK DeepTech startups tackling critical health and environmental challenges.

As the largest investor in UK venture and venture growth capital funds, the British Business Bank states that it regularly makes cornerstone commitments, enabling funds to achieve a first close and helping them execute their planned strategy more effectively and often at greater scale. The Bank’s Enterprise Capital Funds programme aims to increase the supply of equity capital to early-stage UK companies with long-term growth potential. It also lowers barriers to entry for fund managers looking to operate in the VC market by providing a return structure that makes it more attractive to private-sector investors.

Misodzi Mukungurutse, Senior Investment Manager, Development Equity Funds, British Business Bank, said, “What sets Zinc apart is its ability to work closely with founders from day one, helping turn promising ideas into investable businesses. That hands-on approach, combined with a clear Science-for-Impact strategy, positions the fund well to support the UK’s next generation of innovative startups.”