The British Business Bank has announced a £32m investment commitment alongside venture capital firm Haatch to support a range of angel investment syndicates across the UK, with a focus on diversity and early-stage backing.

The funding will be deployed through a platform managed by Haatch, which is an existing partner of the British Business Bank. Further angel syndicates are expected to join the platform over the coming months as the partnership expands its reach across the country.

Syndicates already taking part in the initiative include HERmesa, a network of more than 270 women operators and entrepreneurs that invests in women-led startups. Other participants include CircleRock Capital, which invests across sectors; The Games Angel, focused on the video games industry; Sie Ventures, which backs diverse founders; and 2050 Capital, which targets deep tech and science-led ventures.

“For the UK’s startup ecosystem to properly thrive, collaboration between investors is absolutely vital,” said Haatch general partner Fred Soneya.
“Funding must reach the best and most innovative businesses, and this partnership between the British Business Bank, Haatch and some brilliant angel syndicates is a really strong example of how we can deliver that.
“An exciting, diverse range of startups have already been backed, and by working with more syndicates from across the UK, we are going to direct early-stage funding to the best and brightest startups in the country.”

The platform was launched in May last year and has already completed more than a dozen investments across a broad mix of sectors. The British Business Bank said it now plans to expand the model by partnering with additional syndicates nationwide.

“We are now looking to scale this platform by investing alongside more great syndicates across the country,” added Mark Barry, senior investment director at British Business Bank.