British Business Bank backs Zinc Science-for-Impact Fund

The British Business Bank has committed up to £46 million to Zinc's Science-for-Impact Fund, making it the 55th vehicle in the Bank's Enterprise Capital Funds programme.

The commitment will support Zinc's second institutional fund, which is targeting a total size of £70 million. The fund aims to build a portfolio of 80 new UK deep tech companies focused on health and environmental challenges.

The Enterprise Capital Funds programme is designed to increase the supply of equity finance to early-stage UK businesses and help fund managers enter the venture capital market. Cornerstone commitments of this kind can help a fund reach a first close and pursue its investment plan at greater scale.

Zinc is an early-stage investor and venture builder that works with founders from the earliest phases of company formation, when access to capital is often limited. Its Science-for-Impact strategy focuses on turning scientific research and technical ideas into businesses that can attract wider investment.

The fund's investment themes align with areas identified in the government's Industrial Strategy, including advanced manufacturing, clean energy and life sciences. Zinc also invests across engineering, biology and artificial intelligence.

The Bank previously backed Zinc II in 2022. This latest commitment extends that relationship as Zinc seeks to widen its support for founders building science-led businesses.

Zinc's existing portfolio includes companies developing heart disease treatments, biomarker tools for neurodegenerative diseases, digital clinical care for teenage self-harm, battery asset management software and lithium-ion battery recycling. Those investments reflect the firm's focus on health and environmental applications rather than consumer internet or general software startups.

Early-stage focus

The British Business Bank is one of the largest investors in UK venture and growth capital funds. Its role in this part of the market is to direct public backing to areas where smaller companies and new fund managers may struggle to secure enough private capital on their own.

That support is particularly relevant to Zinc's strategy. Deep tech ventures often require longer development cycles and closer links between scientific research and company building than other startup models, which can make early fundraising more difficult.

"Breakthrough businesses need support from the very earliest stages if they're to realise their potential. Zinc has a strong track record of backing founders tackling significant health and environmental challenges, and we're pleased to support the next phase of its growth. Our commitment to Zinc will help strengthen the pipeline of innovative businesses driving the UK's future economy," said Mark Sims, Managing Director and Head of Development Equity Funds at the British Business Bank.

Ella Goldner, Co-founder and Managing Partner at Zinc, said the gap between scientific discovery and company formation remains a central issue for UK innovation.

"The UK is home to some of the world's most extraordinary scientific talent, yet too many breakthrough discoveries never become the companies that improve lives, protect our planet and create long-term economic value. We founded Zinc to change that by partnering with exceptional scientists and entrepreneurs across the UK at the earliest stages, helping transform world-class research into ventures that deliver lasting impact in health and the environment while building the globally significant businesses of the future. We are proud to continue our partnership with the British Business Bank, whose long-standing support reflects a shared conviction that backing ambitious founders early is one of the most powerful ways to strengthen the UK's innovation economy," Goldner said.

Fund pipeline

The Enterprise Capital Funds programme combines public and private money to invest in high-growth businesses through specialist fund managers. The programme typically makes two to three investments each year, making the Zinc fund one of a relatively small number of vehicles selected for support.

The latest commitment also points to continued investor interest in deep tech and science-led startups despite a more selective funding environment. Areas such as therapeutics, climate technology and industrial systems tend to require specialist investors that can assess technical risk before a company has meaningful revenue.

"What sets Zinc apart is its ability to work closely with founders from day one, helping turn promising ideas into investable businesses. That hands-on approach, combined with a clear Science-for-Impact strategy, positions the fund well to support the UK's next generation of innovative startups," said Misodzi Mukungurutse, Senior Investment Manager, Development Equity Funds at the British Business Bank.