Business Growth Fund — Full Portfolio

365 Response provides software for coordinating passenger transport and delivery logistics, using intelligent route mapping to combine pick-ups and drop-offs.

Logistics & Supply ChainMobility & TransportationSaaSWakefield, GB

Abselion develops measurement tools and a platform combining hardware, purpose-built assay formats, and software for biological measurements such as protein quantification.

BiotechDeep TechHardwareMedical DevicesCambridge, GB

DRDr Ruizhi Wang(CEO)

Co-investorsCACambridge Angels groupM M VenturesR4R42 GroupTHThe Engine VenturesUNUniversity of Cambridge EnterpriseUNUntitled Ventures

AimBrain offered Biometric Identity as-a-Service to banks and other financial institutions, combining voice, facial, and behavioral biometrics with cloud-based authentication for identity verification and fraud reduction.

CybersecurityEnterprise SoftwareLondon, GB

ASAndrius Sutas(CEO)inAlesis Novik(Cofounder)in

Co-investorsENEntrepreneur FirstEPEpisode1OMOMERS Ventures

Amazon Filters manufactures industrial process filtration products, including depth and pleated filter cartridges, capsules, bag filters, and housings, sizing them to each customer's process specifications.

Advanced ManufacturingCleantechHardware

Amdaris provides clients with dedicated teams of personnel to supplement internal software delivery projects and programmes under managed service agreements.

AI & Machine LearningCloud ComputingDeveloper ToolsEnterprise SoftwareFuture of WorkUK, GB

VNVlad Nanu(Founder)in

AND Digital is a technology consultancy that works with clients ranging from multinational enterprises to scale-ups, helping them design and build software solutions to complex problems.

Developer ToolsEnterprise Software

Appnovation provides nearshore software development and digital transformation services through distributed teams based in the Americas, Europe, and Asia, with specialized expertise in high-compliance industries like finance, healthcare, and insurance.

AI & Machine LearningDeveloper ToolsDigital HealthEnterprise SoftwareVancouver, CA

ALArnold Leungin

Co-investorsCACanadian Business Growth FundEXExport Development Canada (EDC)

Aqdot is a supramolecular chemistry (chem-tech) company that develops proprietary AqFresh air quality and odour/VOC-elimination technology based on encapsulation.

CleantechDeep TechNew Materials

DJDr Jing Zhang(Chief Executive Officer & Co-founder)DRDr Roger Coulston(Chief Technical Officer & Co-founder)HRHugh Rathbone(Chief Commercial Officer)inAAAlex Anikeeva(Chief Financial Officer)in

BoardTWTim Wright(Chairman)

Co-investorsPRProvidence Investment Company LimitedPAParkwalk AdvisorsIPIP GroupUNUniversity of Cambridge Enterprise

Ballpark operates an AI-powered research platform that conducts large-scale consumer surveys and qualitative interviews simultaneously.

AI & Machine LearningMarketing TechSaaSAmsterdam, NL

Murat Mutlu(Founder)in

Co-investorsBUBungalow CapitalINInreach VenturesCOConnect VenturesHAHaatch

Blue Light Card is a UK discount and rewards service offering members access to over 15,000 online and in-store offers, plus exclusive events and tickets, for a £4.99 two-year membership.

ConsumerE-commerceMarketplaces

Cambridge GaN Devices is a fabless semiconductor company that develops energy-efficient GaN-based power devices for sustainable electronics.

CleantechDeep TechEnergyHardwareSemiconductorsCambridge, GB

FNFabio Necco(CEO)in

Co-investorsCACambridge Innovation CapitalEMEMV CapitalIQIQ CapitalMAMartlet CapitalBRBritish Patient CapitalEPePlanet Capital+1 more

University of Oxford spinout whose imaging technology aids diagnosis and treatment of cardiovascular disease.

Co-investorsCRCreative Destruction Lab (CDL)LOLongwall Venture Partners LLPOXOxford Investment Consultants LLPOXOxford Science Enterprises

Cellular Origins provides automated cell therapy manufacturing solutions through its Constellation platform, which integrates robotics and digital management to enable GMP-compliant scaling of cell therapies with minimal process modification.

Advanced ManufacturingBiotechRoboticsCambridge, GB

Alex Lang(Founder)

Co-investorsHIHighland EuropeNYNYBC VenturesTTTTP VenturesJOJohnson & Johnson Innovation – JJDC

DEScycle operates a circular technology platform focused on critical minerals processing, with a demonstration facility in Teesside, UK.

Advanced ManufacturingCircular EconomyCleantechDefense TechNew MaterialsTeesside, GB

Co-investorsCICisco InvestmentsDEDeep FutureGRGreen Angel VenturesKEKero Development PartnersTSTSP VenturesVOVorwerk Ventures

Discovery Invest is a retail active asset manager in South Africa that offers pre- and post-retirement investment products with a shared-value model that rewards clients for healthy investment and lifestyle behaviors through boosts and discounts.

FintechInsurTechSaaSJohannesburg, ZA

AGAdrian Gore(Founder)in

Co-investorsBLBlackRockRERemgro / Invenfin ecosystemFOForesight Group

e2e-assure provides UK-based managed security operations (SOC) services and a sovereign AI SOC/SIEM platform that monitors threats across IT and OT networks.

AI & Machine LearningCybersecuritySaaS

Echion Technologies is a battery technology company that develops and commercialises XNO®, a niobium-based fast-charging battery anode material supplied to cell manufacturers worldwide.

CleantechDeep TechEnergyNew Materials

JDJean de la Verpillière(CEO & Co-founder)inAGAlex Groombridge(CTO & Co-founder)inBTBen Ting(Chief Commercial Officer)inSSSarah Stevenson(Chief Operating Officer)inCNCeri Neal(Chief Financial Officer)in

Co-investorsEMEMV CapitalKIKima VenturesMAMartlet CapitalZEZero Carbon CapitalEPePlanet CapitalOROrigin Capital+2 more

FluoRok, a spin-out of the University of Oxford, develops patented fluorinating technologies to produce fluorochemicals such as Li-ion battery electrolytes, agrochemicals, and pharmaceutical ingredients without generating toxic hydrofluoric acid.

CleantechDeep TechNew Materials

GPGabriele Pupo(CEO & Founder)inVGVéronique Gouverneur(Founder)in

Co-investorsEXExcellis HoldingGGGGFGRGreen Generation FundOXOxford Science EnterprisesCLClub degli InvestitoriEPePlanet Capital

FrontRow was an Indian hobby-learning platform with celebrity-led courses that shut down operations in mid-2023.

Co-investorsLILightspeed Venture PartnersVIVibe CapitalEAEarl Grey CapitalEIEight Roads VenturesELElevation CapitalGSGSV Ventures

Gaussion develops magnetic battery control technology that improves charging speed, heat generation, and lifetime performance across different cell formats and chemistries for electric vehicles, stationary storage, and industrial applications.

Deep TechEnergyHardwareLondon, GB

THTom Heenan(Founder)in

Co-investorsALAlbionVCAUAutotech VenturesFUFuture VenturesUCUCL Technology FundDNDN CapitalEPePlanet Capital

Gousto is a UK meal-kit subscription service that delivers pre-measured ingredients and recipe cards to home cooks, offering 175+ recipes each week with box sizes for 1 to 5 people.

ConsumerDirect to ConsumerFoodTech

TBTimo Boldt(Founder)inJames Carter(Founder)

Co-investorsMMMMC VenturesSOSoftBank Vision FundUNUnilever VenturesSOSoftBank Group

Stantec is a global engineering, architecture, and environmental consulting firm that delivers projects across infrastructure, energy, buildings, and water sectors.

Construction TechEnergyEnterprise Software

Brian Yates(Managing Director)Cath Schefer(Executive Vice President, Chief Operating Officer – Global)

Invenio is an SAP partner offering consulting, implementation, application management, and value-added reseller services for start-ups, scale-ups, and mid-market organisations.

Cloud ComputingEnterprise SoftwareSaaS

Komi is a creator platform combining mini-sites, commerce and brand-deal tools for creators with influencer marketing software for brands.

Los Angeles, US

LCLewis Crosbie(Founder)

Co-investorsANAntlerBRBrighteye VenturesMIMiroma VenturesRTRTP GlobalCOContour Venture PartnersLILive Nation+4 more

Lantum offers AI-powered workforce management tools designed to help organizations handle staffing more efficiently and cost-effectively.

AI & Machine LearningHR TechSaaS

Co-investorsBEBeringeaFIFinch CapitalSASamos InvestmentsWAWalking VenturesPIPiton Capital LLPPLPlayfair Capital

Mach42 develops AI tools for high-performance computing tasks, including analog circuit simulation and test plan development for semiconductors as well as real-time fusion control mechanisms.

AI & Machine LearningDeep TechSemiconductors

Co-investorsOXOxford Technology ManagementFOForesight Group

Miracle unifies data from multiple clinical trial platforms to provide automated insights for healthcare professionals in biopharma.

AI & Machine LearningBiotechEnterprise SoftwareHealthtechSaaSSan Francisco, US

JKJin Kim(Founder)inStuti Vishwabhan(Product Engineer)

Co-investorsEIEight CapitalGAGaingelsSOSoma CapitalTHThe E14 FundY Y Combinator1010X Capital+2 more

Nova provides software for deal management and data sharing in private markets, serving investors and financial professionals.

FintechSaaSDallas, US

PVPradyuman Vig(CEO)inBPBryan Pirtle(Founder)inWill Dinkel(Founder)inIan MacalinaoJeffrey Tong(Advisor)inKate Mellinger(Head of Revenue)

Co-investorsCOCoinbase VenturesGVGV (Google Ventures)TETerrence YangUTUtopian VenturesY Y CombinatorACAccel+15 more

Off-Piste Wines is a wine company that partners with producers to supply a range of branded wines to the UK and global markets.

ConsumerE-commerceCheltenham, GB

Oliver Sweeney sells men's footwear and related products directly to consumers, offering international shipping to the UK, US, EU, Canada and Australia.

ConsumerDirect to ConsumerE-commerce

Co-investorsAMAmery Capital

OrganOx develops the metra platform, a device that extends organ preservation time for liver transplants by maintaining continuous perfusion with oxygenated blood-based solutions, enabling surgeons to better assess organ viability and make more informed transplant decisions.

BiotechHealthtechMedical DevicesOxford, GB

PPProf. Peter Friend(Co-Founder)

Co-investorsAMAmadeus Capital PartnersANAnjostHEHealthQuest CapitalINIntuitive VenturesLALauxera Capital PartnersLOLongwall Venture Partners LLP+2 more

Phlux Technology develops Noiseless InGaAs avalanche photodiode (APD) infrared sensors operating at 1550 nm that serve as drop-in replacements for traditional APDs.

Deep TechHardwareSemiconductors

BWBen White(CEO)in

Co-investorsNONorthern GritstoneOCOctopus Ventures

RiverRidge is a waste management company based in Northern Ireland that provides waste treatment, recycling, and resource recovery solutions for businesses and communities, operating multiple treatment facilities with a focus on reducing landfill reliance.

Circular EconomyCleantechEnergyBelfast, GB

Brett Ross(CEO)inChris Fillis(Operations Director)in

Co-investorsCUCube Infrastructure ManagersEQEquitix

HealthtechDallas, US

LMLyndsey McKay Harper(Executive Officer, Director)Mahmoud Haidar(Director)

BoardKRKerry Rupp(Director)in

Co-investorsGOGolden SeedsMIMindshift CapitalTRTrue Wealth Ventures

St Pierre Groupe is a bakery company that produces brioche and baked goods under the St Pierre and Baker Street brands, sold through retail, wholesale, hospitality, and online channels.

ConsumerFoodTechManchester, GB

Co-investorsLLLloyds Bank

T-Therapeutics develops T cell receptor-based therapeutics for cancer and autoimmune diseases using its proprietary OpTiMus platform, which identifies antigen-specific human TCRs.

AI & Machine LearningBiotechDeep TechHealthtechMedical DevicesCambridge, GB

Co-investorsCACambridge Innovation CapitalF-F-Prime CapitalSASanofi VenturesSOSofinnova PartnersDIDigitalis VenturesUNUniversity of Cambridge Enterprise

Tapdaq was a London-based mobile ad mediation platform for app developers, acquired by Tapjoy in 2018.

AdTechDeep TechDeveloper ToolsGaming

Ted Nash(Cofounder)MBMatthew Bromberg(Chief Executive Officer and President)

Co-investorsBABallpark VenturesKIKindred CapitalOPOpenOceanBABalderton Capital

Manchester-based subscription market research and insights platform focused on the kids, parents and under-30s market.

Co-investorsDSDSW Ventures

TMT ID provides a single API that connects to global mobile telecommunications networks, letting organisations validate mobile numbers, verify age, and detect fraudulent accounts.

CybersecurityData & InfrastructureFintech

Uform manufactures and distributes doors and accessories for the kitchen, bedroom and furniture trade across the UK and Ireland, offering paint-to-order, made-to-order and showroom design services.

Advanced ManufacturingLogistics & Supply Chain

Monmouth Junction, US

Ashley Unitt(Founder)Guy Sochovsky(Founder)Richard Pickering(Founder)

Co-investorsJMJMI EquityNENew Enterprise Associates (NEA)BEBessemer Venture PartnersHIHighland EuropeNONotion Capital