Venture capital firm to drive Northern growth from new Manchester base
Early-stage investor, Hatch Ventures, is expanding its operations to the North with a new base in Manchester’s Enterprise City.
The Lincolnshire-based business is eager to link up with high potential start-ups looking to scale.
The investor which support entrepreneurs from pre-seed to exit, via investments from the SEIS, EIS and Follow On funds from Haatch Ventures, has become the latest venture capital (VC) partner of Exchange, the tech scale-up support programme.
Founded by a board of entrepreneurs that have built, exited, and sold their own businesses, the Haatch team has experience in growing and scaling companies. Manchester is the first step in expanding the offer across the North.
Its first base in the region is alongside Exchange at Department Bonded Warehouse, as it seeks to immerses itself in the region’s tech scene.
The successful tech scale-up support scheme has supported more than 450 people from in excess of 100 businesses that have created around 120 jobs, since July 2020. The scheme’s tech start-ups have raised more than £10m in funding on their growth journeys.
Charlie Weavers-Wright, investment associate at Haatch Ventures, said: “Joining Exchange as a partner and choosing Department Bonded Warehouse was a no brainer for us when looking to expand Haatch. There is a hive of start-ups here and across the North and that really excites us. Manchester is at the heart of the tech start-up buzz, so we have opened a permanent base here to try and tap into it further.”
He added: “We are largely an agnostic digital tech fund, we’re open to interesting businesses and propositions, and have previous experience in B2B, SaaS and marketplaces. So far, we have invested in a mixture of Northern-based tech firms, including Exchange alumni, Financielle. We’re keen to explore different aspects of the tech community in the North as we expand and grow.
“Our focus is always on the founders. We know that the start-up journey comes with challenges, but what is most important to us is a clear passion and drive from the founders at an early stage. I am already having some exciting conversations with the members of Exchange, and I am eager to expand my network across the region.”
Exchange is now in its third year and seeks to support the UK’s next generation of tech businesses reach their full potential. It offers ambitious entrepreneurs and their businesses a physical base within Department Bonded Warehouse in the city’s Enterprise City district, as well as access to workshops, a community of like minded entrepreneurs and, opportunities for funding by its VC partners.
Alice Pickersgill, community outreach lead at Exchange, said: “Partnering with Haatch strengthens our support programme further, alongside the mentoring and learning opportunities available at Exchange. Funding is among the top things early stage businesses are looking for and being able to offer entrepreneurs opportunities to speak to people that can fund their growth is an important part of what we do.
“As we prepare to welcome a new cohort of ambitious start-ups, we have built a strong network of partners that can provide valuable insights, guidance, and real genuine opportunities for growth to our group. I look forward to seeing the impact Haatch will have on our exciting start-ups and others across the North, as it expands.”
Haatch is no stranger to investing in Northern businesses and is a key active investor in the successful Exchange alumni, Financielle, alongside other North West-based businesses including Betmate, Denturly, Harbour.fi, and AeroCloud.
To support its expansion north, British Business Investments, from the British Business Bank, has made a commitment of up to £10m to Haatch through the Regional Angels Programme.