High-growth tech firm investor Ascension Ventures has secured a £10m commitment from the British Business Bank via the Regional Angels Programme.
Launched in 2019, the Regional Angels Programme was created to address regional imbalances in access to early-stage financing by targeting angel networks and other early-stage investors outside of London.
“We’re delighted to partner with Ascension, who have an incredible founder friendly reputation,” said Mark Barry, senior investment director at British Business Bank.
“This reputation, coupled with how they have demonstrated their commitment to invest commercially with impact across the UK, makes this an exciting commitment through our Regional Angels Programme.”
One of the UK’s most active early-stage investors, Ascension has backed firms including Stream (formerly Wagestream), Ocular Therapeutix and Strive Health.
“We have long believed that talent is distributed across the UK, but opportunity is not. This up to £10m commitment from the British Business Bank allows us to double down on our mission to back exceptional founders regardless of their postcode,” said Jean de Fougerolles, managing partner at Ascension.
“Crucially, this partnership bolsters our commitment to the regions, allowing us to deploy capital alongside our other funds. It reinforces our strategy to write high-conviction cheques, providing the patient, long-term support that regional founders need to build category-defining companies.”
