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British Business Bank and NatWest invest alongside HSBC and M&G in Phoenix Court
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Saul Klein of Phoenix Court
The British Business Bank and NatWest (RBS) are investing alongside HSBC and M&G in venture capital firm Phoenix Court.
The investment is the latest move to get more capital into promising young businesses.
The BBB will put in £50 million while the other contributors did not disclose the total size of their investment, beyond being hundreds of millions of pounds.
Saul Klein, co-founder of Phoenix Court, said: “The UK innovation economy is absolutely steaming ahead.
“This is a watershed moment to have four major institutions, including some of the high street banks, coming together to demonstrate the scale of the opportunity.
“Hopefully this is the moment when we can start to see more domestic capital crowding in, and more British allocators backing our innovation economy.”
Full story can be read on Daily Business.
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