The British Business Bank has unveiled a series of targeted investments designed to strengthen access to finance for small and medium-sized enterprises (SMEs), early-stage startups, and specialist sectors. These moves, announced in late February and early March 2026, highlight the institution’s ongoing efforts to stimulate economic expansion, promote regional balance, and nurture high-growth ventures across the UK and Ireland.
In its partnership with Belfast-based Cordovan Capital Management, the bank has committed £20 million to the firm’s third fund (CCP III LP) as part of its new Growth Equity strategy.
Established in 2011, Cordovan specialises in majority-stake acquisitions through management buy-outs and buy-ins, primarily targeting SMEs on the island of Ireland and in the UK.
The firm works hand-in-hand with management teams to scale operations, professionalise structures, pursue acquisitions or mergers, and strengthen leadership capabilities.
Cordovan’s debut deal under the new fund closed in December 2025 with the acquisition of Manchester-based JPS Projects.
Adam Kelly, Managing Director and Co-Head of Funds at the British Business Bank, emphasised that the investment will release further private capital while tackling uneven regional funding patterns and supporting nationwide economic momentum.
Partner Daniel Anderson at Cordovan welcomed the alignment of missions, noting the bank’s status as a leading institutional investor in UK and Irish SMEs.
Separately, the bank has scaled up its collaboration with early-stage venture firm Haatch by committing an extra £25 million—bringing the total platform investment to £32 million—to back promising and inclusive angel syndicates.
Launched in May 2025 with an initial £7 million, the initiative supports five high-performing groups: HERmesa (focusing on women-led tech startups), CircleRock Capital,
The Games Angels, Sie Ventures, and 2050 Capital. Since inception, the platform has deployed capital into 13 companies spanning healthcare, sustainability, deep tech, and AI.
Examples include innovations in vaccine storage, AI clinic automation, FemTech wearables, AgeTech support, carbon-reducing software for game developers, self-healing concrete, AI code optimisation, and chemistry automation tools.
Investments have reached every corner of the UK, from Cornwall to Cambridge and Cardiff to London, while prioritising diverse founders such as award-winning innovators and industry veterans.
Fred Soneya, Co-founder and General Partner at Haatch, described the partnership as a powerful model of investor collaboration to channel funds to the most innovative businesses.
Mark Barry, Senior Investment Director at the British Business Bank, confirmed plans to onboard additional syndicates and expand the programme’s reach.
In a third announcement, the bank delivered a $20 million cornerstone commitment to Seraphim Space’s latest early-stage fund, following a £40 million anchor investment in the firm’s inaugural dedicated SpaceTech vehicle in 2016.
Seraphim has backed 149 companies across 33 countries, whose collective fundraising exceeds $10 billion and includes nine unicorns.
The new fund will continue targeting Seed and Series A opportunities in defence, climate monitoring, life sciences, and next-generation space infrastructure, with 17 portfolio companies already secured from allied nations.
Christine Hockley, Managing Director and Co-Head of Funds, noted the long-term success of the bank’s cornerstone approach in helping specialist managers thrive.
Michael Laycock, Investment Director, highlighted the fund’s alignment with UK industrial priorities in advanced manufacturing, defence, and digital technology.
Seraphim CEO Mark Bogget acknowledged the shared focus on defence sovereignty and mission-critical scaling.
Collectively, these commitments reinforce the British Business Bank’s role as the UK government’s development bank. By catalysing private capital and backing frontier technologies, the initiatives are poised to create jobs, foster innovation, and position British businesses for long-term competitiveness.