The British Business Bank has selected Blue Lake VC as one of ten funds in the new £400 million Investor Pathways Capital programme. David Gilgur and Lyubov Guk, both from Ukraine, have spent the past six years building an ecosystem that now lands the first institutional cheque for international seed-stage startups in the UK.

Betting on immigrant founders

More than half of the UK’s fastest-growing companies were founded by immigrants. Yet, according to a proprietary survey of over 1,200 founders conducted by Blue Lake, more than 90 percent say they cannot access the networks or capital they need at the earliest stages. Gilgur and Guk know that gap firsthand: they arrived in London with no connections or financial backing. That experience shaped a fund that does more than write cheques—it plugs international talent into a structured community.

A community-first path

Before raising capital, the two founders built relationships. In 2022 they launched International Office Hours, connecting over 600 international founders with more than 70 UK investors. Then came Oasis: a physical hub in London that has become a home for over 600 immigrant founders and investors, hosting curated events, workshops, and AMAs with leading VCs. “When we arrived in London we were looking for a place that didn’t exist, so we built it,” they say.

From syndicate to fund: eleven investments and a track record

Over the past four years, the Blue Lake Angel syndicate made eleven investments in early-stage companies founded by immigrants—many discovered through International Office Hours or the Oasis community. It is proof of a model that spots talent before the broader market pays attention. Now the institutional fund aims to scale that strategy, targeting the first cheque for startups building global products.

The British Business Bank and the £400 million programme

The British Business Bank’s commitment comes under its new Investor Pathways Capital programme, designed to back emerging managers. Blue Lake VC was chosen from over a hundred applicants. The fund is scheduled to close by September 2026, anchored by the public bank alongside private investors and family offices. For Gilgur and Guk, the commitment validates a thesis built on lived experience and on-the-ground community work.

Beyond capital: what it means for the tech ecosystem

At a moment when Europe discusses tech sovereignty and digital autonomy, backing immigrant founders carries strategic weight. Bringing different perspectives into the earliest stages of company building is not just an inclusion metric—it’s an innovation multiplier. For those tracking AI deployment choices and on-premise infrastructure decisions, the talent pipeline remains a critical variable. Without genuinely open networks and diverse teams, the ability to develop competitive local stacks risks staying confined to narrow circles, limiting the range of approaches. Blue Lake VC aims to break that pattern, starting with capital and community.