British Business Investments launches new £100m programme to support regional angel investment

British Business Investments, a commercial subsidiary of the British Business Bank, today launches a new £100m Regional Angels Programme designed to help reduce regional imbalances in access to early stage equity finance for smaller businesses across the UK. Such finance can play an important role in funding businesses with growth ambitions (October 1st).This new commercial programme aims to address this issue by increasing the availability, supply and awareness of angel and other early-stage equity investments across the country, particularly in areas where this type of finance is less readily available.British Business Bank research published earlier this year in partnership with the UK Business Angels Association found that 57% of business angels are based in London and the South East, with 35% in London and 22% in the South East. Furthermore, nearly a third of business angels’ investments are made in London (31%), followed by the South East (12%).In England, the South West has the largest number of business angels outside of London and the South East (6%), followed by the North West (5%) and the East of England (5%). In the devolved nations, 8% of UK business angels are based in Scotland, 4% in Wales and just 1% in Northern Ireland.The new Regional Angels Programme will work by committing funds for investment alongside business angels and other early stage equity investors, acting as a catalyst to bring longer-term capital to smaller businesses with growth ambitions.