"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"
Deepbridge Capital has secured a £15m commitment from British Business Investments, a commercial subsidiary of the British Business Bank, to fund early-stage businesses across the UK.
This £15m commitment from British Business Investments’ Regional Angels Programme, which is designed to reduce regional imbalances in access to early stage equity finance for smaller businesses across the UK, will be invested alongside Deepbridge’s own funding over the next three years.
It will match funds raised via Deepbridge’s private investors, including the Deepbridge Technology Growth EIS and the Deepbridge Life Sciences EIS. Deepbridge’s EIS funds enable private investors to access a portfolio of early-stage companies within the UK’s technology and life sciences sectors and support a portfolio of businesses across all regions of the UK. Deepbridge recently announced that it has seen a record year of EIS fundraising, with £29.4 million deployed across 37 growth companies.
Judith Hartley, CEO of 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 Deepbridge. With this £15m commitment from British Business Investments, Deepbridge will be able to increase its support for early-stage businesses across all regions of the UK, so they can flourish and grow.”
Ian Warwick, managing partner at Deepbridge Capital, commented: “Supporting high-growth businesses across all regions of the UK is at the heart of the Regional Angels Programme’s mandate, and we are delighted to be working with British Business Investments and thank them for their support. Innovative technology and life sciences companies will be fundamental to the UK’s economic recovery and BBI’s commitment to support our drive to identify, support and grow such companies is great news for our investee companies, investors and the wider UK economy.
“2020/21 represented a record year of fundraising for Deepbridge, which we believe not only shows considerable appetite for early-stage private equity amongst investors, but is also a continuing endorsement of our hands-on management style to supporting EIS-qualifying companies.”