THENA Capital Receives £30m Commitment from British Business Bank for MedTech Innovation

The British Business Bank has announced a significant investment in THENA Capital's inaugural UK MedTech Fund, committing up to £30 million through its Enterprise Capital Funds programme. This fund has already secured its first close at £27 million, with contributions from notable entities, including Firebird Collective, This Day Foundation, and Baroness Martha Lane Fox, along with other private equity and pharmaceutical industry players. Established in 2021, THENA Capital is led by an all-female team of three partners, who aim to accelerate development within the UK MedTech sector, recognized for its innovation and potential. The fund is designed to support early-stage UK medical technology startups, particularly those developing digital healthcare and fast-tracking medical devices. Beyond financial backing, THENA Capital intends to collaborate with founders on commercializing and scaling their products internationally, with a specific focus on gender-smart investing. This move is part of the British Business Bank's wider strategy to lower entry barriers for first-time fund managers and support the growth of venture capital provision in the UK, further underlining its position as the largest domestic investor in the UK venture and growth capital landscape.