British Business Investments announces £5m commitment to Green Angel Syndicate through Regional Angels Programme
- Funds will be deployed alongside Green Angel Syndicate’s Climate Change Fund (EIS) and angel syndicate.
Green Angel Syndicate will be the first Regional Angels Programme delivery partner specialising in the fight against climate change.
- Green Angel Syndicate will be the first Regional Angels Programme delivery partner specialising in the fight against climate change.
British Business Investments, a commercial subsidiary of the British Business Bank, today announces a new £5m commitment to green economy investor, Green Angel Syndicate, to support early-stage UK businesses operating in the green technology sector.
The commitment is being made through the Regional Angels Programme, which seeks to reduce regional imbalances in access to early-stage equity finance. It will match funds raised via Green Angel Syndicate’s network of investors and their EIS Climate Change Fund. The fund supports a portfolio of UK wide, early-stage climate tech companies, primarily in the agritech and water, built environment, energy, transport and waste and recycling sectors.
Green Angel Syndicate’s specialisation is in the fight against climate change and it only invests in companies whose technology and process innovations have the potential to reduce carbon or greenhouse gas emissions or to remove carbon from the atmosphere.
Judith Hartley, CEO, British Business Investments, said: “Our Regional Angels Programme is designed to address imbalances in access to early-stage finance in the UK and to increase the overall amount of capital available to smaller businesses through early-stage investors such as Green Angel Syndicate. This £5m commitment from British Business Investments means increased support for green technology sector early-stage businesses across the UK.”
Nick Lyth, CEO, Green Angel Syndicate, said: “This welcome commitment will expand our bandwidth substantially, and hence the impact of our investments in the fight against climate change. The recognition from British Business Investments of the importance of investing in UK start-ups fighting climate change is an encouraging sign for the future.”
Some of the companies that have benefited from Green Angel Syndicate’s EIS funding during the last 12 months include: Surrey-based DNA biomonitoring service provider NatureMetrics, Bristol-based greenhouse gas detection technology company QLM Technology, and sustainable seaweed product developer Oceanium, which is based in Scotland.
Risk disclaimer: Investment in early-stage companies involves risks such as illiquidity, lack of dividends, loss of investment and dilution. Even when diversified within a fund, investing in early stage companies carries a higher risk than investing in more established companies. Investment in EIS and SEIS funds should be considered as part of a diversified portfolio. For professional investors only.
Abi Siri Andersen
Green Angel Syndicate
t. +44 (0)7771 895 946
Senior Communications Manager
t. +44 (0)20 7898 5829
m.+44 (0)7827 552301
British Business Investments team at MHP Communications
t. +44 (0)20 3128 8589
Notes to Editors
About Green Angel Syndicate
Green Angel Syndicate (GAS) is one of the largest angel syndicates in the UK, and the only one specialising in the fight against Climate Change. GAS has attracted over 300 members and invested in 28 start-up and early-stage companies across 10 different economic sectors.
About British Business Investments
British Business Investments is the trading name of British Business Investments Ltd, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s commercial arm.
British Business Investments aims to earn a commercial return by investing – through finance providers – in smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any economic advantage from the government. Find out more at bbinv.co.uk.
British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.
The funding from British Business Investments to Green Angel Syndicate does not amount to any endorsement or warranty from British Business Investments, the British Business Bank plc, or the government of the UK.