An £8 million early-stage angel investment fund has been launched to support East Midlands startups.
The fund, unveiled by D2N2 Local Enterprise Partnership chair Elizabeth Fagan at the UK’s Real Estate Investment and Infrastructure Forum (UKREiiF) in Leeds, will fuel growth in the Nottinghamshire and Derbyshire startup ecosystems.
“The purpose of the fund is to stimulate investment and growth in ‘early stage’ companies – those that have been trading between six and 24 months – that are based in Derby, Derbyshire, Nottingham or Nottinghamshire (the D2N2 region),” said Fagan.
“D2N2 LEP is contributing £4 million to the fund and this will be match-funded by our investment fund manager, Haatch. Our aim is that over the longer term, these funds will be re-invested in the programme, to catalyse investment and growth for further early stage companies.”
Notable regional companies in Haatch’s portfolio include Aerocloud, an airport management platform; Native Teams, a cross-border employee management tool; Made With Intent, a platform that helps retailers understand visitor intent; and Bunch, a tool that allows users to manage all their household bills and divide them between housemates.
Over the next two years, the Haatch D2N2 ESAIF will invest in approximately 13 companies.
The partnership will also see co-investment from British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, which committed £10m to Haatch in 2022.
The D2N2 LEP team and functions will transition into the East Midlands Combined County Authority during 2024.
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