The British Business Bank, the UK’s largest domestic investor in venture and venture growth capital, has announced a €20m to a funding round from EU tech investor Revaia.

The fund will invest in high-growth technology scale-ups across Europe and the UK with a focus on sustainable innovation. The firm partners primarily with mission-driven entrepreneurs, helping them scale their companies globally from growth stage to IPO or buyout.

The British Business Bank joins a syndicate of global investors and LPs, including Bpifrance, the European Investment Fund (EIF), BNP Paribas Cardif and JP Morgan. The commitment from the British Business Bank has also helped support Revaia’s UK expansion, with the firm establishing a permanent UK presence.

Revaia has a dedicated ESG team that supports portfolio companies with their sustainability journey. The Fund has already invested in sectors focusing on resilience such as energy transition, AI for insurance, and cybersecurity.

As well as supporting the Bank’s strategic objective to build the modern, green economy, this commitment is also the latest in the British Business Bank’s support for female-led fund managers.

“Successfully closing Revaia Growth II is a testament to the strength of our team, our strategy, and our investors trust in our ability to scale European tech leaders,” Alice Albizzati, founding partner a Revaia, said.

“With €600 million under management, a strong portfolio, and rapid deployment in high-growth sectors like energy transition and AI, we are reaffirming our ambition: to be the partner of choice for Europe’s next tech champions, providing not only capital but also the operational expertise to accelerate their growth.

“We are excited to continue supporting visionary entrepreneurs who are committed to lasting and sustainable value-creation.”

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Christine Hockley, managing director and co-head of funds, British Business Bank, said: “Revaia’s focus on scaling up sustainable technology businesses will support both our mission of improving access to growth capital in the UK and enabling the transition to a net zero economy by improving access to finance for sustainable businesses.

“I am also very pleased to welcome another female-led fund to the Bank’s funds portfolio unlocking the potential of women across the economy.”