The Venture Codex Logo

The Venture Codex

British Business Bank

Steel City House, West Street, Sheffield, S1 2GQ, United Kingdom

Overview

The British Business Bank brings expertise and Government money to the smaller business finance markets. Understanding markets and smaller businesses’ finance needs allows us to design programmes to make finance markets work better, and investing alongside private sector investors maximises their impact and allows us to reach the full range of finance providers such as banks, leasing companies, venture capital funds and web-based platforms.

Total investments
54
Lead investments
10
Investments · 12mo
34
Active investors
19

Sector focus

  • Banking
  • Finance
  • Financial Services
  • Venture Capital
Visit website

Investment portfolio

  • Kinematic Trees

    Participated · Seed · Jul 2026

    Founded in 2025 by Dr Stuart Wilson and Daniel Camilleri, Kinematic Trees develops a robot-agnostic software integration layer that captures specialist robotics expertise in modular components which can be reused, combined and adapted across different hardware platforms. The platform is inspired by principles of natural intelligence and aims to make advanced robotics easier to deploy across sectors including manufacturing, healthcare, education and the creative industries. Kinematic Trees is engaged in both commercial activity with robotics providers and research into embodied artificial intelligence and cognitive architectures. The startup raised £585,000 in pre-seed funding to support product development, expand commercial and engineering teams, and pursue international deployment. The company plans to announce its first factory deployments and new partnerships during the second half of 2026.

  • Draig Therapeutics

    Participated · Series B · Jul 2026

    Draig Therapeutics is a clinical-stage biopharma focused on developing highly specific AMPA receptor (AMPAR) and GABAA receptor (GABAAR) modulators aimed at treating neuropsychiatric disorders. Its lead program, DT-101, is a Phase 2 AMPAR positive allosteric modulator (PAM) being evaluated in major depressive disorder in a global monotherapy study and a U.S. adjunct study. The company states DT-101 has shown encouraging safety, tolerability and target engagement with a pulsatile pharmacokinetic profile. Draig was co-founded by Cardiff University and SV Health Investors and is backed by venture investors including Access Biotechnology, Canaan Partners, SR One, Sanofi Ventures and Schroders Capital. Following the oversubscribed $65 million Series B, the company plans to use proceeds to accelerate clinical development across its pipeline and advance additional candidates toward the clinic.

  • Kraken Technology

    Participated · Series B · Jul 2026

    Kraken Technology develops and manufactures autonomous maritime platforms such as uncrewed subsurface vessels for military and security use. Its technology is already used by NATO, the UK Ministry of Defence and the US Navy, and it counts US defence firm Anduril as a partner. Founded in 2020, the British-founded startup has expanded into manufacturing and operational deployment for defence customers. The company said it will use the new funding to develop an uncrewed surface vessel and to expand manufacturing facilities. Financially, Kraken achieved unicorn status with a $175 million Series B at a $1 billion valuation.

  • Alchemab Therapeutics

    Led · Series A · Jul 2026

    Alchemab Therapeutics is a clinical-stage biotech founded in 2019 that uses its Resiliome™ platform—combining one of the world’s largest fully human antibody databases with AI and lab validation—to identify naturally occurring protective antibodies from disease-resilient individuals. The company has generated a pipeline of first- and best-in-class antibody assets, including ATLX-1282, a first-in-class therapeutic in clinical development for ALS that was licensed to Eli Lilly. Alchemab plans to expand its proprietary antibody dataset from about 500 million sequences to over one billion and to advance additional candidates into clinical development. The company’s platform integrates deep sequencing, AI-derived algorithms, and laboratory validation to characterise candidate antibodies. Alchemab has raised a total of £109 million in Series A financing to date and lists investors such as SV Health Investors, the Dementia Discovery Fund, RA Capital, DCVC Bio, Eli Lilly, Lightstone Ventures, Ono Venture Investment, and Camford Partners. The recent £25 million Series A extension led by the British Business Bank is intended to accelerate its clinical pipeline and database growth.

  • Neuronostics

    Participated · Equity · Jun 2026

    Neuronostics develops BioEP, a clinically validated digital biomarker platform that analyses standard EEG recordings using eight predefined computational biomarkers and produces a report in under five minutes. The platform is UKCA-marked and ISO-13485 certified and has been validated across 15 NHS sites with over 1,000 recordings. NHS service evaluations are underway at multiple Trusts, including The Royal Wolverhampton NHS Trust and University Hospitals Dorset, and the company has a strategic partnership with Stratus to support scalable US deployment. Neuronostics plans to pursue FDA clearance (with a submission planned for 2026) and to extend the platform to provide brain fingerprints of treatment response in pharmaceutical trials. The company highlights clinical needs such as long diagnostic wait times, high misdiagnosis rates, and the high rate of inconclusive routine EEGs as drivers for its adoption.

Team

  • Sarah Newbould

    LinkedIn
  • Costantino Mariella

    Senior Venture Capital Investment Manager

    LinkedIn
  • Patrick Magee

    Chief Commercial Officer

    LinkedIn
  • Christopher Fox

    Chief Financial Officer

    LinkedIn