British Business Investments has committed £5 million to Green Angel Syndicate, a green investor that supports early-stage UK firms.
British Business Investments is a subsidiary of government-backed British Business Bank.
According to a note from British Business Investments, the funding was made via the Regional Angels Programme, which aims 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 early-stage climate tech companies. Green Angel Syndicate targets 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.
Judith Hartley, CEO of British Business Investments, commented:
“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 of Green Angel Syndicate, said the funding will boost their bandwidth dramatically:
“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.”
British Business Investments notes that 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.
