British Business Bank Backs Atempo Growth II with £30m Commitment
Funding | May 28, 2025 | British Business Bank Investments Ltd
The British Business Bank has committed £30 million to Atempo Growth's second fund, Atempo Growth II, marking a significant investment for the fund which has already exceeded £300 million in commitments during its first close. Atempo Growth, founded in 2021 by Luca Colciago, Jack Diamond, and Matteo Avramov Giulivi, focuses on providing growth debt to high-growth tech startups, ranging from Series A to pre-IPO stages. The firm, which previously raised capital for Atempo Growth I, has a history of investments in 32 companies across various sectors. The strategy of offering non-dilutive finance will continue with this latest fund, aiming to support tech businesses that require capital to scale without equity dilution. Adam Kelly of British Business Bank highlighted the importance of such investments in supporting the growth of innovative companies.
Sectors
- Private Equity
- Technology
Geography
- United Kingdom – The British Business Bank is based in the UK, and the investment into Atempo Growth II is a UK-based initiative supporting tech startups.
Industry
- Private Equity – The article discusses the investment made by a prominent government-backed investment bank into a private equity fund, indicative of capital raising and deployment activities typical in this industry.
- Technology – Atempo Growth focuses on providing growth debt to tech startups, showing significant involvement in the technology sector.
Financials
- £30 million – The commitment made by the British Business Bank to Atempo Growth II.
- £300 million – The total commitments received by Atempo Growth II fund at its first close.
- £700 million – Atempo Growth's total assets under management following the latest round of funding.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| British Business Bank Investments Ltd. | Investor | Company | A government-owned business development bank in the UK providing financial support and investments to spur growth in the business sector. |
| Atempo Growth | Target Fund | Company | A growth debt fund established to support high-growth tech startups with non-dilutive finance, founded by Luca Colciago, Jack Diamond, and Matteo Avramov Giulivi. |
| Luca Colciago | Founder | Person | Co-founder of Atempo Growth, involved in managing the fund's strategic direction. |
| Jack Diamond | Founder | Person | Co-founder of Atempo Growth, responsible for operational and investment activities. |
| Matteo Avramov Giulivi | Founder | Person | Co-founder of Atempo Growth, instrumental in fund formation and managing investments. |
| Adam Kelly | Managing Director and Co-Head of Funds | Person | Works at British Business Bank, overseeing fund management and strategic investments. |