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British Business Bank Investments invests in Frog Capital II

The Venture Capital Catalyst Fund of British Business Bank Investments, the commercial arm of the British Business Bank, has invested EUR9 million in Frog Capital II, a EUR90 million European Growth Capital Fund.

The Fund will invest in up to eight ambitious high-growth technology businesses across the UK and Europe. It builds on Frog Capital’s existing portfolio, which includes Azimo, a leading London-based digital money remittance business, and Skimlinks, a fast growing London-based digital content marketing and data business.

Mike Reid, Managing Partner of Frog Capital, London, says: “The European growth capital opportunity for tech is exceptional right now. The quantity and quality of companies is better than ever. The supply of capital focussed on this area has not kept up, however, exacerbating the funding gap and holding back economic growth.

“We are delighted to have British Business Bank Investments Ltd as an experienced and value added partner which shares our aim of narrowing the funding gap and enabling such businesses to scale up successfully.”

Keith Morgan, Chairman, British Business Bank Investments Ltd, says: “Frog Capital has a strong track record of financing high-growth technology businesses, and it’s important to ensure businesses like these can access the funding they need to realise their potential.

“This fund will provide much-needed equity capital to more businesses across the UK.”

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