money

Sheffield based commercial investor announces new £10m investment

A Sheffield based commercial investor has announced a £10m commitment to a Cambridge based venture capitalist.

British Business Investments (BBI), a commercial subsidiary of the British Business Bank, has committed to investing £10m into Syndicate Room over a five-year period.

The investment is part of BBI’s Regional Angels Programme, which aims to address regional imbalances and diversify the availability of angel finance.

Judith Hartley, CEO of British Business Investments, said: “Our Regional Angels Programme is designed to increase the amount of capital available to smaller businesses with high growth potential.”

She continued: “With this £10m commitment from British Business Investments, Syndicate Room will be able to increase its support for startups and early stage businesses of all sizes, so they can flourish and grow.”

Francesca O’Brien, head of investments at Syndicate Room, said: “Alongside British Business Investments and other institutions we have over 300 retail investors invested into our fund.”

She continued: “We are delighted to see British Business Investments’ commitment and the fund will remain open for those who want to invest across a portfolio of the most promising early stage British companies.”

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