British Patient Capital has committed £30 million to Crane Venture Partners’ second fund, which has reached a final close of £110 million.
Crane II will invest in seed to Series A businesses specialising in digital infrastructure, including open-source software, data and developer tools, and artificial intelligence. Fifty percent of the fund is expected to be invested in the UK, with the rest spread across Europe, Israel and the US.
British Patient Capital was a significant investor in Crane’s first fund, which saw more than 75% of its seed investments go on to raise a Series A round. Across both of its funds, Crane now has over 50 portfolio companies, with almost 20 investee businesses in Crane II.
