British Patient Capital commits GBP20m to Kindred Capital’s second fund
21 September 2020, London: British Patient Capital announces a commitment of GBP20 million to Kindred Capital’s second fund as it announces its close today at GBP81 million.
With a strategy focused on making founder-led, high conviction investments, Kindred Capital has already begun investing from its second fund in companies. One investment is BotsAndUs, the London based robotics firm.
The investment follows a cornerstone commitment by British Patient Capital to the manager’s inaugural fund in 2017, which includes companies now well into their growth stage such as Five the company building much of the software layer for autonomous vehicles, and Farewill the company which has disrupted the will-writing industry.
Kindred has a solid track record of investing in teams with female founders. With 30% of funding to founding teams with women, its portfolio tracks well above the industry standard in terms of gender diversity.
Kindred’s approach to partnering with entrepreneurs, has proven appealing, helping attract quality opportunities. Through its Equitable Venture programme, Kindred Capital shares its carry with the founders in which the fund invests, encouraging its portfolio companies to actively help each other achieve their goals.
Ian Connatty, Managing Director, British Patient Capital, says: “We are delighted to extend our relationship with Kindred. Kindred’s commitment to Diversity and Inclusion, both in its own team and the companies it backs, is well aligned with British Patient Capital’s mission and values as we seek to enable more home-grown fully funded companies fulfil their potential to be players on the global stage.”
Leila Zegna, Partner at Kindred Capital, says: “We are delighted with the success of our first fund, and excited to continue our partnership with British Patient Capital. Having quality investors that understand our industry is hugely important for emerging managers. We look forward to continuing our long-term partnership.”