Frog Capital II clinches €9m for European fund
British Business Bank-backing will support the London-based which looks to invest in disruptive, high-growth UK tech businesses
British Business Bank Investments, the commercial arm of the British Business Bank, has announced a €9m investment into Frog Capital II – Frog Capital’s €90m European growth capital fund.
Up to eight high-growth businesses across the UK and Europe are set to benefit from the fund, which looks to invest between €5m and €10m in disruptive technology start-ups.
Last year, Frog Capital led a $20m Series B funding round into money transfer service Azimo and a $16m Series C into content monetisation platform Skimlinks.
Other companies in its investment portfolio – typically focused around IT, digital media, and resource efficiency – include EDITED, Rated People, and Scoota.
Mike Reid, managing partner of Frog Capital London, commented: “We are delighted to have British Business Bank Investments as an experienced and value added partner which shares our aim of narrowing the funding gap and enabling such businesses to scale up successfully.”
Keith Morgan, chairman of British Business Bank Investments, added:
“Frog Capital has a strong track record of financing high-growth technology businesses, and it’s important to ensure businesses like these can access the funding they need to realise their potential.
“This fund will provide much-needed equity capital to more businesses across the UK.”