British Business Bank partners on programme to boost investment into diverse West Midlands businesses
The British Business Bank has today announced a new partnership with the UK Business Angels Association (UKBAA) to support the launch of its Diverse Angel Syndicate (DAS) programme, an initiative designed to broaden participation in angel investing and ultimately increase the flow of capital to underrepresented business founders, who are often overlooked despite their potential.
The programme will provide specialist financial and non-financial support for operational growth and development, including up to £400,000 of grant funding per syndicate over a 4-year programme period. The funds will be used to help diversity-focused angel syndicates recruit, train and activate investors; strengthen their operations; and build sustainable long-term models. It will focus primarily on tackling underrepresentation among women and people from ethnic minority backgrounds in angel investing,
Angel investing plays a critical role in backing early-stage businesses, but participation remains less diverse than the wider UK population. Women currently make up around 14% of UK angel investors, according to the Investing in Women Code Annual Report 2025, while UKBAA estimates that around 11% are from Black and ethnic minority backgrounds.
Evidence suggests investors are more likely to back business founders with similar backgrounds, meaning a lack of diversity on the investor side can influence which entrepreneurs are able to access early-stage capital.
Through the Diverse Angels Syndicate programme, successful syndicates will receive support to raise awareness of angel investing as an asset class, onboard a mix of novice and experienced investors, provide high-quality investor education, develop stronger operational infrastructure and connect with peer syndicates, early-stage investors and co-investment partners. Overall, the programme aims to broaden participation in angel investing, support increased investment into diverse founders, and strengthen the capability of angel syndicates operating outside of London.
UKBAA will act as strategic programme partner, providing specialist support to help syndicates develop the structures, processes and capabilities needed to operate and run effectively, while helping the opportunity reach relevant syndicates through its established national network. Public IO, through the Angel Investing School, will provide Train-the-Trainer support, helping syndicates build investor education capability and confidence among newer angels.
The programme builds on the Bank’s Diverse Angel Syndicate pilot, established in 2023, to support a cohort of five female-led syndicates – Mint Ventures, Awaken Angels, Women Angels of Wales, Lifted Ventures and Investing Women Angels. By 30 June 2026, participating syndicates had recruited 277 angel investors, including 265 women and 232 novice investors, and completed 74 deals with a total round value of £58.7m, including £2.3m invested directly by the syndicates.
The pilot has also demonstrated its ability to turn interest in angel investing into active and sustained participation. By June 2026, 169 investors had made their first angel investment through participating syndicates, representing an activation rate of 49%. Importantly, 59% of the active investors have gone on to make repeat investments, demonstrating the potential of the model not only to bring new and more diverse investors into the angel market, but to build a growing and engaged investor base over the longer term.
Susan Nightingale, senior director, Local Growth Team at the British Business Bank said: “We want to work with ambitious angel syndicates, whether emerging or established, that share our passion for tackling evidenced disparities in angel investing. Through the Diverse Angel Syndicate programme, we want to support and accelerate that change, helping syndicates attract and activate a broader range of investors while building the professional foundations they need to grow. Ultimately, our ambition is to see diverse syndicates develop into commercially viable, self-sustaining organisations that continue to bring new investors into the market and unlock more capital for entrepreneurs across the UK.”
Jenny Tooth OBE, executive chair of UK Business Angels Association, said: “We are delighted to be working with the British Business Bank as strategic partner for the Diverse Angel Syndicate programme. Building a more diverse angel investment ecosystem across the UK is vital and we need to enable many more women and those from wider diverse backgrounds with the capacity to invest to become part of angel investment syndicates. Through this valuable new programme, we look forward to working directly with a curated cohort of angel syndicates. By providing them with new skills, knowledge and connections, we aim to strengthen their role and capacity to mobilise many more diverse investors into their Angel groups and ensuring their long term growth and sustainable impact on the level of investments into diverse founders across the UK angel investment market”
Applications for the Diverse Angel Syndicate programme open on 11 November. A webinar will take place on 4 November, followed by office hours over a two-week period in November to provide further information and support to prospective applicants. Registration for the webinar is available via the British Business Bank website, Diverse Angel Syndicate | British Business Bank where you can also find full details on eligibility and application guidance.