Author: Jonathan Symcox

Tapestry VC has launched an $80 million (£60m) Fund III to double its scale and deepen its focus on backing repeat founders across Europe and North America.

At almost three times the size of the firm’s previous funds, the fund is co-anchored by a $40m commitment from new sovereign investor British Business Bank, alongside returning institutional co-anchors Railpen – a £35 billion pension plan – and Molten Ventures – a £1bn fund-of-fund. 

Notable tech leaders, such as OpenAI CFO Sarah Friar, are also joining the new fund.

Tapestry has also opened a flagship London office, with founder Patrick Murphy relocating from San Francisco to the UK capital after a decade of investing on both sides of the Atlantic.

 

Author: Jonathan Symcox

Greggs CFO Richard Hutton is set to retire from the role after 28 years with the company.

Hutton will also step down from the board, which he has served on for 20 years.

Ben Waldron has been appointed as his successor and as an executive director of the company. He will join Greggs plc on 27th October 2026 and take over fully on 1st January 2027, when Hutton will step down.

Author: Jonathan Symcox

NatWest Group has completed its £2.7 billion swoop for wealth management firm Evelyn Partners.

The deal, originally announced in February, completed yesterday and sees an exit for British private equity giant Permira and US peer Warburg Pincus.

Evelyn Partners – formed from the merger of Tilney and Smith & Williamson – has grown from £5bn to £69bn in client assets since 2014, when Permira first invested. Warburg Pincus invested in 2020.

The transaction creates the UK’s leading private banking and wealth management business, the firms say. NatWest Group has £59bn assets – bringing their combined assets to £127bn and total customer assets and liabilities to £188bn.

It transforms NatWest Group’s financial planning and investment management capabilities, with estimated annual run-rate cost synergies of approximately £100m and costs to achieve of approximately £150m.

Payments technology company BR-DGE has secured a £10 million funding round, along with a new growth investor, as it targets international growth.

Founded in Edinburgh in 2018, BR-DGE helps enterprise merchants maximise payment performance and unlock competitive advantage from their payment infrastructure. 

Its orchestration platform brings together routing, tokenisation, data insight and intelligent controls, helping merchants improve approval rates, enhance their customer experience and fine-tune their payment flows across markets.

The company has seen a 15x increase in platform volumes in under two years, with transactions set to exceed 100 million per month by year-end. 

Having established a leadership position in gaming payments, BR-DGE is now expanding into adjacent enterprise sectors, with recent customer wins including major e-commerce business The Hut Group (THG) and betting giant Betfred.

 

London tech firm Omnea has launched a fund giving its employees the chance of winning investment for their own startups.

The AI-native procurement orchestration platform, used by many of the world’s fastest-growing companies, says the Omnea Future Founders Fund – launched in partnership with European angel fund Firedrop – will allow employees of more than five years to pitch founder and CEO Ben Freeman and Pietro Invernizzi, founder and investor at Firedrop, for 30 minutes.

They say employees with winning ideas can secure $250,000 of seed funding on the spot.

 

Kerry Baldwin, Ruth Handcock OBE and Robin Murray have been appointed as non-executive directors to the board of British Business Bank plc, while Piers Lowson has joined the board of BBB Investment Services Limited.

Each term will last for three years from the date of appointment, at the end of which they may be appointed for another three-year term.

In addition, the Government has confirmed the reappointment of Stephen Welton CBE as non-executive chair of the Bank for a second three-year term, from 5th October 2026.

Baldwin is co-founder and managing partner of IQ Capital, a UK DeepTech venture capital firm.

Handcock is a UK financial services leader known for building mission-driven businesses that expand access to investing and financial advice. She most recently served as CEO of Octopus Money, where she built a £5bn assets under management business to deliver the company’s mission to make financial advice simple and accessible to everyone.

Murray brings more than 30 years of Silicon Valley experience as an entrepreneur and investor across venture capital, growth equity and global private markets. He is head of growth equity at Adams Street Partners, a $75bn global private markets investment firm.

Lowson has more than 35 years of investment experience across asset management, investment banking and consultancy. Until 2025, he was a director of Baillie Gifford, one of the UK’s largest and most successful growth equity managers.

Exonate, a biotechnology company developing novel, non-invasive, small-molecule therapeutics for patients with retinal vascular diseases, has appointed Olav Hellebø as CEO.

He will lead the company as it strengthens its executive team and advances toward key clinical and corporate milestones, including initiating a Phase IIb clinical trial of lead candidate EXN407 for diabetic eye disease.

Hellebø has held senior commercial and development roles across the United States and Europe. Notably, he served as Executive Vice President at Schering-Plough (now Merck), leading the US Biotech and Oncology business unit, Chief Operating Officer of Novartis UK and a member of the Novartis Global Pharmaceutical Executive Committee, and President of Immunology at UCB where he built and led the Immunology Division following the company’s acquisition of Celltech plc.

The Competition and Markets Authority is consulting on new conduct requirements for Apple and Google under the UK digital markets competition regime. 

The proposed requirements would remove restrictions currently preventing UK app developers from ‘steering’ their customers away from Apple and Google’s platforms for payment.

‘Steering’ – the ability for developers to engage with customers about off‑platform options – is currently banned by Apple and restricted by Google in the UK. 

Lifting these constraints, the CMA says, would allow developers to bypass mandatory fees set by platforms.

The CMA also said that after hearing concerns from businesses that Apple’s high fees and strict terms prevented access to near field communication (NFC) functionality, it is designing a potential requirement to allow access for developers.

Firms supporting people to buy, trade and hold crypto will need to meet clear standards under landmark rules set out by the Financial Conduct Authority.

All firms must meet financial resilience requirements including capital and stress testing. The FCA is also introducing new market integrity rules covering areas such as insider trading and market manipulation.  

The new framework also sets out specific rules for stablecoins, a type of cryptoasset designed to maintain a stable value, typically by being linked to a currency such as the pound. The approach was published jointly with The Bank of England.

An industrialised construction company which has developed innovative technology to build homes from recycled glass panels has secured more than £5m in funding to help it tackle the UK’s housing crisis.

VASO Global is a world-leading housebuilding innovator which takes waste glass and converts it into high‑performance structural composite panels capable of delivering rapid, low‑carbon, modular homes and buildings.

The company combines digital design, integrated manufacture and semi-autonomous construction, to provide affordable, thermally efficient, low-carbon homes which are swift to construct, enabling it to respond to the UK’s need to build more homes more quickly.

VASO Global, based in Dumfries, has secured £1.4m seed investment from PXN Ventures along with £621k from Scottish Enterprise. The company has also secured a £2m loan approved by Innovate UK Loans Limited, a division of UK Research and Innovation (UKRI), and £800k from ECO GROUP which will be the delivery partner for the initial VASO Global build projects.

VASO by Eco had previously secured £330k from South of Scotland Enterprise (SOSE) to advance the commercial roll-out of its innovative recycled-glass building technology.

The latest funding will enable VASO Global to develop manufacturing processes at its new 60,000-square-feet manufacturing site in Dumfries, creating up to 70 jobs within the next five years, with the plant adopting industrialised construction methods.

Author: Jonathan Symcox

FTSE 100 listed UK property group Segro has again slammed a £12.6 billion takeover bid from a US rival and says it will not be sold ‘on the cheap’.

Segro owns a portfolio of warehouses and data centres, mainly in the South East of England, and has benefited from the growth of online shopping.

The company recently rejected the all-share bid from Prologis ‘unanimously and unequivocally’ and said it fell ‘a long way short’ of own valuation and was ‘opportunistically timed’.

This morning Prologis issued a response setting out the strategic and financial rationale for the proposed combination – but Segro has been unequivocal in its reply.

Manchester-based CareLoop Health is reporting strong early traction following a £1.8m funding round from NPIF II – PXN Equity Finance, the GMC Life Sciences Fund by PXN Ventures, Verge HealthTech Fund and SFC Capital, supporting the business to scale its technology and expand clinical adoption across the UK and internationally.

Launched in 2021, Careloop Health is a University of Manchester spinout focused on transforming care in  severe mental illness, including schizophrenia and psychosis. Built on more than a decade of research and clinical trials prior to spinout, the CareLoop digital platform integrates into existing care pathways, enabling clinicians to remotely monitor patients while using algorithm-driven insights to predict and prevent relapses.

Since securing the investment in 2025, CareLoop Health has grown its team from two to ten employees, strengthening its clinical, technical and commercial capabilities as it moves towards wider adoption. The business has also secured an SBRI Healthcare grant along with funding from NHS England, enabling pilot programmes across five NHS trusts, while building a strong commercial pipeline as it looks to convert pilots into long-term contracts. The company’s growth reflects increasing momentum across the UK’s digital health and life sciences sectors, both identified as priority areas in the UK’s Modern Industrial Strategy.

Alongside its UK growth, CareLoop Health has begun expanding internationally, with two sites in the United States. The company has also been accepted into the NHS Innovation Accelerator, with COO Dr Pauline Whelan awarded a fellowship.

Trainline plc has announced the appointment of Niall McBride as audit and risk committee chair and independent non-executive director of the company with effect from 1st July 2026.

He will also join Trainline’s nomination and remuneration committees.

McBride is currently CFO of MONY Group. Prior to this, he was CFO of Ocado Retail and a managing director at Rothschild & Co.

Digital banking platform Tide has launched a dedicated investment account for SMEs.

The Tide Investment Account (TIA) brings business investing directly into the platform where more than 900,000 UK SMEs already manage their finances.

The new offering is designed to help business owners grow surplus cash through investing, removing many of the barriers that have historically made wealth creation more complicated for smaller businesses.

Author: Jonathan Symcox

Harrogate entrepreneur Jonathan Yates has launched Caskd, a digital platform that gives whisky enthusiasts a way to buy, sell and manage their collections.

As whisky collecting continues to grow, many enthusiasts are questioning the high costs associated with traditional auction houses. Seller commissions, buyer’s premiums, shipping costs and lengthy settlement times can make buying and selling both expensive and frustrating.

Caskd offers an alternative by removing unnecessary middlemen and enabling enthusiasts to trade directly with one another through a trusted community.

Huddled Group plc has raised £1,244,000 – including £175k from executive chairman Martin Higginson – from management and institutional investors in a share placing.

The AIM-listed circular economy eCommerce group, behind brands including Discount Dragon, has also launched a retail investment offer for up to £100k.

It says the raise will help it become operationally cash flow positive.

The Beauty Tech Group plc has appointed Dr Marnie Millard OBE to its board as a non-executive director.

The group owns brands including CurrentBody Skin, ZIIP Beauty and Tria Laser, which are used by stars such as Serena Williams and Kim Kardashian.

Millard will replace Simon Cooper on the board, who will step down on 31st August 2026 after almost 10 years with the business.

A former CEO at Nichols plc, she currently serves as senior NED and chair of the renumeration committee for Applied Nutrition plc and is chair of University Academy 92 Limited.

In 2018, she was awarded an OBE for Services to Business in the Northwest and International Trade in the Queen’s Birthday Honours. She also holds an Honorary Doctorate in Business Administration from Salford University.

Millard will serve as senior independent director and chair of the remuneration committee, effective from 1st July 2026.

Author: Jonathan Symcox

A former key executive at Oxford Nanopore Technologies has been named CEO at fellow biotechnology firm Oxford BioDynamics Plc.

Oxford BioDynamics, also known as OBD, is looking to advance personalised healthcare through precision clinical diagnostic tests and EpiSwitch Orion, its cloud-based 3D genomics platform.

Targeting pharma and BioTech partners, it is now looking to incoming CEO Richard Compton to secure the sales necessary to the long-term viability of the business.

A $1.4 billion deal caused shares in Bridgepoint Group plc to jump 17% today.

The valuation of the mid-market investor hit £2.4bn following the news of its move to acquire Kayne Anderson Real Estate, with the combined firm to hold $117bn in Assets Under Management spanning private equity, credit, infrastructure, real estate and secondaries.

Expected to complete at the end of 2026, subject to shareholder approval, regulatory approvals and fund consents, the deal comprises $759 million of cash and approximately 189 million newly issued Bridgepoint Shares, with further consideration subject to management fee-related performance hurdles.

UK-headquartered and -listed Bridgepoint’s share price remains 3% down in the year to date.

A London-based deep tech company pioneering energy intelligence technology for battery packs has closed a £21 million funding round. 

This brings total capital raised to over $44m since the company was founded in 2022 as a UCL and Faraday Institution spinout.

The round was co-led by BGF and AlbionVC, with follow-on participation from mobility specialist fund Autotech Ventures, UCL Technology Fund, DN Capital and Future Ventures. 

Led by Steve Jurvetson, an early investor in SpaceX and Tesla, Future Ventures becomes the second early Tesla investor involved with Gaussion alongside board member Simon Rothman.