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.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
George Osborne optimistic that Open Banking will be ‘dramatic’ to industry
George Osborne has claimed that the big banks won’t necessarily look to move more quickly towards Open Banking as it represented a competitive threat to them...
Santander launches 'invisible cinema' experience to help tackle fraud
Santander has launched an ‘invisible cinema’ experience to teach under-25s about the importance of keeping financial information safe...
New CEO joins Buckinghamshire Building Society
Gerard O’Keeffe (pictured above) has started his role as the new CEO at Buckinghamshire Building Society...
STB Commercial Finance expands North West team
Secure Trust Bank (STB) Commercial Finance has appointed John Copping (pictured above) as regional sales director for the North West...
300 companies sign up to Women in Finance Charter
A total of 300 companies have now signed up to HM Treasury’s Women in Finance Charter....
Hanley Economic offers self-build product in Scotland
Hanley Economic Building Society has extended its self-build and residential mortgage offerings into Scotland with immediate effect...
Why it’s important to encourage female entrepreneurs
On Women’s Entrepreneurship Day, we honour women in business, their fearless ambition, their achievements and successes...
TSB names new CEO
The board of TSB Bank PLC – with the support of Sabadell – has announced that Debbie Crosbie (pictured above) will become its new CEO in 2019, subject to regulatory approval...
Tandem opens community beta testing for autosavings
Tandem has invited its existing app users to join its autosavings beta testing community to help test its new proposition...
Secure Trust Bank enters Right to Buy market
Secure Trust Bank Mortgages (STB) has launched into the Right to Buy market with a range of mortgages for tenants looking to purchase their existing home...
Starling announces partnership with the Post Office
Starling Bank has announced that it has partnered with the Post Office as it looks to offer every day banking services to its customers...