This morning we announced that British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, has made a commitment of up to £10m to Haatch through the Regional Angels Programme.

Judith Hartley, CEO, of British Business Investments, said: “By investing alongside Haatch’s SEIS, EIS and follow-on funds, this commitment from British Business Investments will facilitate additional early-stage investment to smaller businesses across the UK.”

This is a huge milestone for the entire Haatch team and an exciting moment for 3 of our most important stakeholders; portfolio company founders, investors and financial advisors (who help facilitate investment into our tax-efficient funds).

Given this huge milestone I wanted to share a few points on why I’m excited for each of these groups below;

Founders

• Our new standard lead pre-seed SEIS cheque is £210k made up of £150k SEIS + £60k BBI on the same simple founder-friendly terms
• The £60k doesn’t eat into SEIS or EIS limits but means we’re a larger part of a pre-seed round providing more capital to get to those crucial next-stage milestones
• We will also invest BBI capital alongside EIS capital from both our EIS fund and our follow-on EIS fund providing significantly more investment all the way from pre-seed to Series A helping extend runway or scale faster

Investors

• Our BBI commitment will invest alongside all of our investors in each and every investment we make meaning our investors are investing alongside institutional money in each and every round
• Investing a larger cheque is one of the many things we do to help de-risk investments by providing more meaningful ownership, a longer runway between rounds and a greater seat at the table

Financial Advisors

• The enhanced diligence process with BBI should help to provide additional comfort to your compliance team that Haatch are a leading tax-efficient fund provider
• Providing clients with the knowledge that their investments are invested alongside institutional money in each and every round

We’d love to hear from you if you’re a founder, investor or advisor!