Founders, Investors & Financial Advisors. Here's why I'm excited by our new £10m commitment from BBI!
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!
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