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British Patient Capital commits GBP48.8m to Dawn Capital’s new Opportunities Fund

British Patient Capital, a subsidiary of the British Business Bank, has committed GBP48.8 million into Dawn Capital’s new Opportunities Fund, as it closes at USD125 million.

The new fund will enable Dawn to invest up to USD70 million in European entrepreneurs that are solving the greatest tech challenges facing businesses with scalable, game-changing technology.
 
The fund will see the Dawn double down on investments in the most promising companies in European tech in their portfolio and elsewhere, with a specific focus on C-rounds and beyond. In addition, Dawn will also be looking to invest in other high-performing late-stage European tech companies to expand its portfolio.
 
The fund is backed by institutional and family office investors across Europe and the US.
 
Haakon Overli, General Partner at Dawn Capital, says: “Europe has significant depth of tech talent, increasingly skilled entrepreneurs, and a growing back catalogue of success stories, many of which have been backed by Dawn.
 
“Our investors and the Dawn team felt real conviction around the concept of the Opportunities Fund as we were seeing exciting companies in our portfolio that want to run longer and be around as independent companies for years to come. The new fund means we can support the next wave of success stories further through their journeys. We remain very grateful for the continuing support of our investors and are excited to continue working for our amazing founders who allowed us to reach this milestone.”
 
Catherine Lewis La Torre, CEO, British Patient Capital, says: “Our investment into Dawn’s Opportunities Fund provides additional patient capital for more established high growth potential businesses looking to scale up. Enabling these types of businesses to access the long-term investment they need to achieve their growth potential is a key aim for British Patient Capital, and we look forward to working with Dawn as they continue to develop their portfolio companies into world-class businesses.”

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