British Business Investments has committed £10m to Twin Path Ventures to back artificial intelligence (AI) startups in the UK.
The investment will see around £3m contributed annually over the next three years, supporting the early-stage AI-focused investment fund set up by Twin Path Ventures and its existing angel and family office investors.
This will enable Twin Path Ventures to invest roughly £10m into 15 companies per year, focusing on projects throughout the UK to boost regional growth and technology advancements.
The early recipients of this investment include Sention, an East London startup using advanced ultrasound and AI to help the battery and fuel cell manufacturing industry.
Amply Discovery, a spin-out from Queen’s University Belfast, combines machine learning and synthetic biology to discover new drugs.
Composo AI, based in London and North West England, has developed a platform for domain experts to work with applications powered by large language models.
Adam Kelly, managing director at British Business Investments, said: “We are delighted to partner with Twin Path Ventures to champion the UK’s thriving AI ecosystem.
“This investment aligns with our commitment to supporting innovative early-stage businesses and driving economic growth across all regions of the UK.
“Twin Path’s expertise and focus on emerging AI technologies make them an ideal partner for this initiative.”
John Spindler, partner at Twin Path Ventures, said: “This partnership with British Business Investments marks a significant milestone for Twin Path Ventures as we continue to build on our mission of empowering AI innovators.
“Their support will enable us to expand our reach and impact, particularly in regions where funding gaps persist.
“We look forward to identifying and supporting the next wave of UK AI pioneers.”
Spindler added: “Twin Path Ventures has already made over 20 strategic investments in early-stage AI-first companies since its inception 18 months ago.
“This collaboration with British Business Investments will accelerate their ability to identify and nurture innovative ventures poised to make a global impact.”
