British Business Bank back TSP Ventures with £3m commitment
The British Business Bank today announces a £3m commitment from its Regional Angels Programme, delivered via its partner Haatch, to TSP Ventures – an early-stage venture firm.
TSP Ventures invest in hard science and breakthrough technologies that can deliver sustainable, cost-effective and geo-secure supplies of critical resources like energy, food, water and metals.
Founded in 2019 by founders Chris Smith and Mike Doswell, TSP Ventures has already backed 17 seed stage companies spanning metal recycling, metal-organic frameworks, clean hydrogen, sodium ion batteries and bio-electrochemical waste treatment. These companies have gone onto raise over £125m in follow-on funding and created over 150 jobs in the UK.
This £3m commitment is from the British Business Bank’s Regional Angels Programme, which aims to reduce regional imbalances in access to early-stage equity finance across the UK. The funding will be co-invested alongside capital from TSP’s own investor base, supporting founders building high-growth potential businesses across the UK.
Mike Doswell, co-founder & chief investment officer of TSP Ventures, said: ” We started TSP because we believed that resilient resources – abundant green energy, clean air, plentiful freshwater and food – would define the coming decades, and everything we’ve seen since has only sharpened that conviction. Having the British Business Bank alongside us is a huge vote of confidence, not just in TSP, but in the founders and teams we’re backing.”
Mark Barry, senior investment director at the British Business Bank, said: “TSP Ventures are investing in businesses across the country which are helping to build the resource resilience of the UK through exciting new technologies in the clean energy industry. We are pleased that this £3m commitment, through our Regional Angels Programme, will support this continued investment.”
Fred Soneya, co-founder and general partner at Haatch, said: “The Regional Angels Programme is designed to increase the supply of early-stage capital across the UK, and delivering it through the Haatch Platform allows experienced investors like TSP Ventures to co-invest alongside the British Business Bank in a simple, scalable way. We’re pleased to support TSP and the founders they back.”