The fund has received commitments from British Patient Capital and Mubadala Investment Company as a co-investment between the two entities which is being made through the UK’s Life Sciences Investment Programme (LSIP). The LSIP is a £200m initiative managed by British Patient Capital designed to address the growth equity finance gap faced by high-potential UK life sciences companies. This is expected to attract at least a further £400m of private investment.

SV BCOF is targeting growth-stage, biotechnology companies developing transformative therapies. The fund has a significant focus on the UK and aims to invest in businesses that have the potential to positively impact society by addressing major unmet clinical needs.

The Macfarlanes team was led by investment management partner Stephen Robinson and associate Miriam Cable with tax advice from tax and reward partner Mark Baldwin.