British Business Bank Commits £36m to Osney Capital's Cyber Fund

The British Business Bank has announced a significant investment, committing up to £36 million to Osney Capital's Fund 1 through its Enterprise Capital Funds programme. With this cornerstone investment, Osney Capital's fund, which initially aimed for a target of £50 million, has become oversubscribed. This fund is notably the first UK-focused cybersecurity seed fund dedicating its investments to early-stage UK cybersecurity ventures. Osney Capital, based in Cheltenham and led by founders Adam Cragg, Josh Walter, and Paul Wilkes, plans to target 30 portfolio companies across the UK at the pre-seed and seed stages. They will write cheques ranging from £250,000 to £2.5 million, with the provision for follow-on investments in Series A. By making this commitment, the British Business Bank, a significant player in UK venture capital and growth, continues to lower barriers for emerging fund managers and foster the development of early-stage businesses with high growth potential. Over the years, through its Enterprise Capital Funds programme, the bank has backed 50 funds, amounting to more than £2.5 billion in finance.