British Business Bank has committed €20m (£16.7m) to the second fund from European tech investor Revaia.
Revaia Growth II will target high-growth tech scaleups across Europe and the UK with a focus on sustainable innovation. The firm invests in sectors including energy, AI and cybersecurity.
As part of the investor’s commitment to sustainable ventures, Revaia also provides a dedicated ESG team to its portfolio companies.
“Revaia’s focus on scaling up sustainable technology businesses will support both our mission of improving access to growth capital in the UK and enabling the transition to a net zero economy by improving access to finance for sustainable businesses,” said Christine Hockley, managing director and co-head of funds at British Business Bank.
“I am also very pleased to welcome another female-led fund to the Bank’s funds portfolio unlocking the potential of women across the economy.”
Revaia is led by founding partners Alice Albizzati and Elina Berrebi. The firm was launched in 2018 and manages €600m of assets.
Alongside the state-owned UK development bank, Revaia’s new fund has been backed by BNP Paribas Cardif, Bpifrance, the European Investment Fund and JP Morgan.
Albizzati said: “Successfully closing Revaia Growth II is a testament to the strength of our team, our strategy, and our investors’ trust in our ability to scale European tech leaders.
“We are reaffirming our ambition: to be the partner of choice for Europe’s next tech champions, providing not only capital but also the operational expertise to accelerate their growth.”
Revaia previously backed the London-based family-focused fintech GoHenry in a £49m round in 2022.
The post British Business Bank commits £16.7m to sustainable tech fund appeared first on UKTN.
