August is often thought of as a quiet month in venture, with markets slowing and investors away. Yet this year told a different story. Across Europe, notably within SaaS, activity bucked the usual summer trend, with strong deal flow and valuations holding steady in categories where companies are delivering measurable ROI and efficient growth.

At the same time, in the UK, the Mansion House reforms are set to reshape the investment landscape, unlocking up to £50bn of capital from pension schemes for growth companies, with the first pledges already directed to British businesses. For early-stage investors and founders alike, this marks a significant tailwind for the ecosystem.

Against this backdrop, it has also been another milestone month for Haatch.

Exits

We completed our fourth profitable exit of 2025 with Tangible Markets, a fintech platform exited via a secondary sale, delivering investors a 42.59% IRR. This follows three other profitable exits earlier in the year:

• CareLineLive: 26% IRR (EIS)
  
• Native Teams: 93% IRR (SEIS)
  
• Re-Flow: 53% IRR (EIS)
  

These results continue to validate our focus on disciplined investing in software businesses solving deep pain points, as well as offering evidence of our pathway to exit.

Fundraising

We closed a record SEIS 11 raise on Crowdcube, totalling in over £4m for the fund, including £1.37m from 344 new investors. This takes Haatch to 2,188 investors across SEIS and EIS funds, furthering our mission to make this asset class more accessible.

Portfolio Activity

Portfolio momentum remained strong through August. Yottar (£740k) and Meshed (£950k) both completed pre-seed rounds led by Haatch, alongside institutional investors including Aviva, Founders Factory, Cape Capital, Exponential Science and a number of notable angels.

We also offered our investors access to Yaso’s oversubscribed Series A, co-investing alongside Puma, Guinness Ventures and others. More than £500k was invested through Haatch into this round.

Our vision is to become the leading seed-stage fund in Europe while being a reliable capital recycler for our investors.

See you next month.