The British Business Bank (BBB) and venture capital firm Haatch has committed £32 million to back promising and diverse business angel syndicates.
BBB is providing £25 million following an initial investment of £7 million last year.
The money is being invested via a platform managed by Haatch.
Syndicates already part of the initiative are HERmesa, a community of over 270 female entrepreneurs turned angel investors backing women-led start-ups; CircleRock Capital, which offers access to early-stage investments; The Games Angels, gaming industry professionals supporting gaming start-ups; Sie Ventures, an early-stage investor backing diverse founding teams, and 2050 Capital, a deep tech and science investment firm.
Since May 2025, 13 companies have received funding. They include Peripear, a FemTech start-up developing a wearable medical device to prevent perineal tears during childbirth, and KareHero, an AgeTech start-up providing digital and human-led support for employees managing elderly care.
Research shows that only 2p in every £1 invested in venture capital funding in the UK goes to female-founded businesses, and a British Business Bank report found that 20% of Ethnic Minority-led businesses were discouraged from applying for finance in 2021, compared to 8% of White-led businesses.
Fred Soneya, co-founder and general partner at Haatch, said:
“For the UK’s start-up ecosystem to properly thrive, collaboration between investors is absolutely vital. 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 start-ups have already been backed, and by working with more syndicates from across the UK, we’re going to direct early-stage funding to the best and brightest start-ups in the country.”
Mark Barry, senior investment director at British Business Bank, added:
“Since its launch last May, this platform has already made more than a dozen investments into a diverse range of businesses to drive growth across a number of sectors. We are now looking to scale this platform by investing alongside more great syndicates across the country.”