British Business Investments has committed £15m to a $375m fund raised by Balderton Capital.
The investment has been made under the Series A-stage technology investor's VC Catalyst programme, which has made commitments of around £120m to 11 venture capital funds since it launched in 2013.
VC Catalyst programme's portfolio includes life sciences, energy and resource efficiency markets.
Balderton's latest fund has been raised from new and existing investors from Europe, the US and Asia.
Catherine Lewis La Torre, CEO of British Business Investments, said: “Our commitment of £15m to Balderton's new fund will help innovative, early-stage technology businesses access the finance they need to grow and succeed.”
Bernard Liautaud, managing partner at Balderton Capital, added: “Europe's technology sector has already produced many game-changing global companies, but we are still waiting for our continent's very own Google, Amazon or Facebook to emerge.
“As European start-ups grow bigger faster, we are convinced that is finally about to change.
“With growth accelerating – this year to date European companies have attracted more than $12.5bn of venture investments – the continent can now produce and scale tech businesses of global significance.
“From AI to gaming, and music to messaging, Europe has built up reservoirs of world-class expertise which has inspired a generation of entrepreneurs with 10 times the ambition of a decade ago.”
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