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The Venture Codex

Overview

Government-backed bank improving finance for smaller businesses.

Founded

2014

Deals · 12mo

38

Stage focus

Seed

Geographic focus

United Kingdom

Sector focus

Banking
Finance
Financial Services
Venture Capital

Investment portfolio

59rounds
NAMEDATESIZE
Living Optics
Oct 2026Participated
$20 MOther Equity
CSignum
Sep 2026Participated
$3 MOther Equity
SolarSub
Sep 2026Participated
$2 MSeed
SageTech
Sep 2026Participated
$3 MSeed
RFC Power
Sep 2026Led
$14 MSeries A
Redx Pharma
Aug 2026Participated
$36 MSeries A
Kinematic Trees
Jul 2026Participated
$0.78 MSeed
Draig Therapeutics
Jul 2026Participated
$65 MSeries B
Kraken Technology
Jul 2026Participated
$175 MSeries B
Alchemab Therapeutics
Jul 2026Led
$33 MSeries A
Neuronostics
Jun 2026Participated
$5 MOther Equity
Oxford Quantum Circuits
Jun 2026Participated
$350 MSeries C
Living Optics
Oct 2026Participated
$20 MOther Equity
CSignum
Sep 2026Participated
$3 MOther Equity
SolarSub
Sep 2026Participated
$2 MSeed
SageTech
Sep 2026Participated
$3 MSeed
RFC Power
Sep 2026Led
$14 MSeries A
Redx Pharma
Aug 2026Participated
$36 MSeries A
Kinematic Trees
Jul 2026Participated
$0.78 MSeed
Draig Therapeutics
Jul 2026Participated
$65 MSeries B
Kraken Technology
Jul 2026Participated
$175 MSeries B
Alchemab Therapeutics
Jul 2026Led
$33 MSeries A
Neuronostics
Jun 2026Participated
$5 MOther Equity
Oxford Quantum Circuits
Jun 2026Participated
$350 MSeries C
59
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Insights

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Deal Distribution

British Business Bank: 59 funding rounds are recorded in the selected participation categories.All available history.
British Business Bank: 59 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed213
Series A25
Series B13
Series C+07
Other Equity519
Debt11

Monthly Deal Activity

British Business Bank: 59 deals are recorded across 112 months.All available history.
British Business Bank: 59 deals are recorded across 112 months. All available history
MonthDeals
Jul '171
Aug '170
Sep '170
Oct '170
Nov '170
Dec '170
Jan '180
Feb '180
Mar '180
Apr '180
May '180
Jun '180
Jul '180
Aug '180
Sep '180
Oct '180
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '200
Feb '200
Mar '200
Apr '200
May '200
Jun '200
Jul '201
Aug '200
Sep '200
Oct '201
Nov '200
Dec '200
Jan '211
Feb '211
Mar '210
Apr '211
May '210
Jun '210
Jul '210
Aug '210
Sep '210
Oct '211
Nov '210
Dec '210
Jan '220
Feb '220
Mar '220
Apr '220
May '220
Jun '220
Jul '220
Aug '220
Sep '220
Oct '220
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '232
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '242
Mar '241
Apr '241
May '240
Jun '241
Jul '240
Aug '240
Sep '240
Oct '240
Nov '241
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '251
Jun '250
Jul '252
Aug '251
Sep '252
Oct '251
Nov '251
Dec '252
Jan '264
Feb '267
Mar '262
Apr '263
May '264
Jun '264
Jul '264
Aug '261
Sep '264
Oct '261

Sector Breakdown

British Business Bank: Health & Life Sciences is the largest displayed sector by deal count (21 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

British Business Bank: Health & Life Sciences is the largest displayed sector by deal count (21 deals). All available history
SectorDeals
Health & Life Sciences21
AI & Machine Learning14
Fintech9
Enterprise Software8
Space & Frontier Tech8
Hardware & Robotics8
Clean Energy & Sustainability6
Networks, Cloud & Communication6
Data, Analytics & IT5
Manufacturing4
Professional Services4
Consumer & Lifestyle3
Developer Tools3
Government & Defense2
Cybersecurity & Privacy2
Media & Entertainment2
Travel & Hospitality1
Education & Workforce1
E-Commerce & Retail1
AR/VR1
Real Estate & Construction1
Transportation & Logistics1
Crypto & Blockchain1
Food & Agriculture1
Gaming & eSports1

Deal Size Distribution

British Business Bank: 59 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

British Business Bank: 59 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M27
$5M-$10M5
$10M-$25M6
$25M-$50M8
$50M-$100M5
$100M-$250M4
$250M-$500M1
$500M-$1B0
$1B+3

Deals By Geography

British Business Bank: Europe has the largest recorded deal count among the displayed regions (54 deals).All available history.

Top 5 of 5 regions; European countries are grouped as Europe.

British Business Bank: Europe has the largest recorded deal count among the displayed regions (54 deals). All available history
RegionDeals
Europe54
United States2
Canada1
Japan1
Russian Federation1
British Business Bank: 20 co-investors are shown, with Scottish Enterprise sharing 7 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Investment Strategy

British Business Bank: Led accounts for 19% and participating for 81% of round participation.All available history.
British Business Bank: Led accounts for 19% and participating for 81% of round participation. All available history
CategoryDeals (count)Share (%)
Led1119%
Participating4881%
British Business Bank: Single-lead accounts for 55% and co-led for 45% of lead dynamics.All available history.
British Business Bank: Single-lead accounts for 55% and co-led for 45% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead655%
Co-led545%

Team

Carmine Circelli

Director, Life Sciences – BPC Direct and Co-Investments

Christopher Fox

Chief Financial Officer

Costantino Mariella

Senior Venture Capital Investment Manager

George Mills

Senior Investment Manager

Judith Ozcan

Managing Director

Ken Cooper

Managing Director

Max Middleton

Senior Investment Manager

Patrick Magee

Chief Commercial Officer

Robert Greenwood

Senior Investment Manager

Sandy George

IT Security Operations Manager

Steve Conibear

UKN Director, South West