British Business Bank commits €25M to EQT's life sciences fund
What's the deal? The British Business Bank has agreed a €25m commitment to EQT Life SciencesDealroom has a profile for this one. Try Dealroom →' EQT Health Economics 3 Fund (EQT HE3), a multi-stage life sciences and medtech fund. EQT HE3 targets commercial-stage, de-risked medtech and digital health technologies.
Who's raising? EQT Life Sciences is one of Europe's leading life sciences investors, backing therapeutics, medical devices, diagnostics, and healthtech companies. With a 30-year track record, it has raised over €3.7bn across 13 private funds and supported more than 150 companies from early clinical development through to commercialisation.
Why now? The commitment is the latest in the Bank's work to back UK life sciences companies, one of the eight growth sectors of the UK Industrial Strategy. The Bank is the largest investor in UK venture and venture growth capital funds, and regularly backs European funds to draw investment into UK companies.
The track record: The two firms already have a relationship, having co-invested in Phagenesis' $42m Series D in 2023 and Cyted Health's $44m Series B in 2025.
"By investing in high-quality international funds, we encourage greater investment to flow back into the UK," said Christine Hockley, managing director and head of commercial equity funds at the British Business Bank.
Drew Burdon, partner at EQT Life Sciences, said the Bank's investment "will further contribute to our commitment to tap into the attractive UK health tech ecosystem."
The signal: Governments are increasingly using state-backed capital to anchor specialist funds, betting that international expertise plus public money can help domestic startups scale where they often stall.
Read more: British Business Bank
