British Business Bank

British Business Bank has committed GBP 50m for the UK software-focused vehicle

Programme will invest in later-stage life sciences funds targeting at least £250m

Fund's predecessor, Isomer Capital Fund, closed on €150m in February 2016

Isomer II will be targeted at early-stage venture capital managers across Europe

Thought Machine reported an operating loss of £19.5m from turnover of £5.4m in 2018

Mercia's NVM VCTs raised £38.2m in new capital, while the BBB also allocated an additional £54.3m

Around 40 existing and new LPs, including British Patient Capital and the EIF, participated

Registered in February 2018, the fund's original target was €200m, with a hard-cap of €250m

In October 2019, Keith Morgan announced that he would be standing down from the role of CEO

Steve Harris joins as MD for technology and operations while Dawn Paine becomes marketing director

Regions the fund invests in include Cheshire, Cumbria, Greater Manchester, Lancashire and Merseyside

Founded in 2012 and based in Chester, Intilery offers a real-time omnichannel CRM platform

Ada Ventures' founding partners, Francesca Warner and Matt Penneycard, met at Downing Ventures

British Business Bank's Northern Powerhouse Investment Fund also participates in the round