The British Business Bank has agreed to invest up to €53.6 million (£46 million) in Zinc Capital Management’s second institutional fund, called the Science-for-Impact Fund.
The investment is being made through the Enterprise Capital Funds programme. It will support Zinc’s strategy of investing in early-stage companies that are built around scientific breakthroughs.
The fund will help entrepreneurs across the UK turn new scientific ideas into scalable businesses. The latest commitment follows the Bank’s investment in Zinc II in 2022 and will allow Zinc to support more founders at the early stages of building their companies.
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.”
Zinc was founded in 2017 and is a pre-Seed venture capital firm that supports ambitious founders working on solutions in health and the environment. The firm invests in companies at a very early stage.
Zinc works with promising teams across the UK that are developing new scientific ideas and deep technologies. Its goal is to help turn these breakthroughs into successful businesses that can lead their industries.
The firm provides early funding and specialist support to help founders reduce the risks of developing new technologies and move faster toward the market. Zinc focuses on building companies that can create both positive social impact and long-term business value.
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.”
The commitment will help the British Business Bank support the creation and growth of innovative UK DeepTech startups working to solve important health and environmental challenges.
