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British Business Bank backs Episode 1 Fund IV with GBP £35M

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The British Business Bank has committed up to GBP £35 million to Episode 1’s Fund IV, marking its fourth investment in an Episode 1 fund.

The commitment follows earlier backing for the venture firm’s 2014 Fund I, 2018 Fund II and 2022 Fund III. Episode 1 invests in early-stage companies, primarily at the pre-seed and seed stages, with a focus on software-led UK businesses across artificial intelligence, software infrastructure, deep tech, and tech bio.

The investment forms part of the Bank’s role as a major investor in UK venture and growth capital funds. Cornerstone commitments can help funds reach a first close and attract further private sector investment.

Fund IV is expected to continue backing businesses linked to the UK’s Industrial Strategy sectors. According to the Bank, a significant majority of Episode 1’s Fund III portfolio mapped to five of the eight priority sectors: digital and technology, financial services, professional and business services, clean energy, and life sciences.

The latest commitment also reflects the Bank’s stated plan to direct more capital towards those sectors over the next five years. The institution, the UK government’s economic development bank, says its programmes support GBP £23 billion of finance for almost 64,000 smaller businesses.

Christine Hockley, Managing Director and Co-head of Funds at British Business Bank, said the programme is intended to increase the availability of capital for innovative UK businesses. “Our fund investments are designed to increase the availability of capital for innovative UK businesses, allowing them to start, scale and stay in the UK. By making a cornerstone commitment to Episode 1’s Fund IV, we are expanding the pool of capital available to support high-growth, high return innovative businesses,” she said.

Michael Laycock, Investment Director, Funds, at British Business Bank, said Episode 1 had shown a strong track record in backing early-stage UK businesses with growth potential.

“Episode 1 has a strong track record of backing early stage UK businesses with strong growth potential. Fund IV represents the fourth Episode 1 fund that we have backed and we are pleased to continue our support. Fund IV will continue to make a substantial impact supporting primarily UK based businesses operating in the Industrial Strategy sectors, further fuelling UK economic growth, by supporting promising UK businesses to scale,” Laycock said.

Early-stage focus

Episode 1 has built its investment approach around identifying and assessing software-driven start-ups at a very early stage. The firm says it uses an algorithmic method to source and evaluate companies, alongside a behavioural approach to founder selection.

Its portfolio includes businesses such as Lawhive, Carwow, Mantic and Source.dev. The latest backing from the British Business Bank gives Episode 1 additional institutional support as it looks to invest in another group of UK start-ups.

Adam Shuaib, GP at Episode 1, said the investment reflected confidence in the firm’s approach. “British Business Bank’s backing is a huge vote of confidence in what our team has built over the last decade; an early-stage fund combining proprietary algorithmic sourcing with a rigorous behavioural approach to founder selection to find incredible companies like Lawhive, Carwow, Mantic and Source.dev before others get there,” he said.

Hector Mason, GP at Episode 1, said the commitment was an encouraging sign for the firm’s strategy. “Securing backing from one of Europe’s most respected institutional investors is a strong signal that the thesis we’ve been refining over the past decade is resonating at the highest levels,” he said.



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£7 billion East West Rail Oxford to Milton Keynes row reignites

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The dispute that halted the much-anticipated introduction of new trains to Milton Keynes looked to be coming to be coming to an end.

The Government has been pushing for ‘Driver-Controlled’ or ‘Driver-Only Operation’—a cost-saving method introduced widely on London commuter lines in the 1980s, a move widely condemned by trade unions.

The Department for Transport’s (DfT) plan for trains to be staffed by a driver and a customer service inspector seemed to solve the dispute.

But this did not meet the The National Union of Rail, Maritime and Transport Workers (RMT)’s demands.

The union has been opposing plans to use driver-only trains between Oxford and Milton Keynes Central.

Although the line between Bicester and Bletchley has technically been open since 2024, it has only been used by freight, charter, and test trains.

Chiltern Railways was chosen as the operator and has been advertising for customer service inspectors, instead of guards.

However, these inspectors would not be considered ‘safety-critical,’ meaning the driver would be responsible for opening and closing the doors.

Chiltern Railways stated it has made significant progress in preparing for the line to open to scheduled passenger trains, but no date has been announced.

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East West Rail Action Group protesting outside Bletchley stationEast West Rail Action Group protesting outside Bletchley station (Image: Diana Blamires)

The company said it is continuing to work closely with the The Department for Transport, trade unions, and industry partners.

The National Union of Rail, Maritime and Transport Workers general secretary Eddie Dempsey insisted on the necessity of a guaranteed safety-critical second person aboard trains, citing their essential role in handling a wide range of duties and responding appropriately to ‘dangerous and fast-moving’ situations.

He said: “We need a clear commitment from Chiltern that East West Rail services will not be Driver Only Operation and that a second safety-critical member of staff will be guaranteed.”

Chiltern Railways is set to be renationalised on September 20, when it will be taken over by DfT Operator in preparation for Great British Railways.

45 drivers have been recruited for the new service, but no guards.

The project delays have already taken a significant financial toll.

Six two-carriage trains have accumulated £2.6m in costs due to delays in their lease.

Currently idle in a Bletchley depot, these units are costing the Department for Transport money without generating any fare income.

The Government previously said trains from Oxford to Milton Keynes are being lined up to appear in the December rail timetable.

In a written statement, rail minister Lord Peter Hendy said: “Chiltern worked with Network Rail, the Department for Transport and other operators on the December 2026 timetable and services have been timetabled between Oxford, Winslow, Bletchley and Milton Keynes.”





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Tech firms back Boycott Your Bed sleepout across UK

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SOFIAH NICHOLE SALIVIO

News Editor

More than 100 technology companies have signed up for Boycott Your Bed 2026, a charity sleepout expected to bring together more than 500 participants across four UK cities.

Participants from companies including Accenture, PwC, Hewlett Packard Enterprise, Siemens and Barclays are due to spend a night outdoors as part of the annual fundraiser for Action for Children. The event will take place in London, Glasgow, Manchester and Leeds.

Now in its 29th year, Boycott Your Bed has become a longstanding fixture in parts of the UK technology sector. Organisers say it has raised GBP £14.6 million for Action for Children since launching in 1998.

The sleepout aims to raise both money and awareness for vulnerable children, young people and families across the UK. Action for Children operates 342 services in communities, schools and online, and says it helped more than half a million children, young people and families in the last year.

Recent government figures cited by organisers show that more than four million children in the UK are growing up in poverty. Against that backdrop, the event asks participants to spend one night outside as a reminder of the insecurity some families face.

Although the fundraiser is open to individuals and teams from any industry, it has attracted strong backing from the technology community for nearly three decades. This year’s participating businesses also include Capgemini, Red Hat, Burberry, Specsavers, Irwin Mitchell, Kier Group and Sparta Global.

Organisers present the event as both a fundraising effort and a meeting point for people across the sector. Its mix of senior leaders, partners, customers and technology professionals has helped give the sleepout a profile beyond that of a conventional charity initiative.

Sector gathering

The level of corporate involvement suggests companies still see value in cause-led events that also create space for professional networking. In a market where firms face pressure to show social impact while maintaining industry ties, Boycott Your Bed has carved out a role that does both.

That dual purpose appears to be part of the event’s staying power. With registrations still open for a limited period, organisers expect further sign-ups before the sleepout takes place.

For Action for Children, the event provides a significant fundraising channel linked to a business audience with long-standing ties to the charity. For participating companies, it offers a visible way to support a national children’s charity while bringing staff and contacts together in an informal setting.

The format is simple: individuals and teams commit to one night outdoors in organised sleepouts staged simultaneously across the four cities, with fundraising tied to participation.

Long record

Boycott Your Bed began as a campaign to raise awareness and funds and has grown into one of the larger recurring charity gatherings associated with the UK technology industry. Organisers say more than 100 companies have already registered for this year’s edition.

The range of names on the participant list points to support from consulting firms, financial services groups, industrial businesses and software companies. That gives the event a broader corporate base than a niche sector fundraiser, even though its roots remain closely tied to the technology industry.

Ken Deeks, vice president and founder of Boycott Your Bed, commented on the scale of support and the purpose behind the event. “Understanding the reality of these challenges has been both eye-opening and deeply moving. Boycott Your Bed raises awareness of issues that can often remain hidden from view. The response from the technology community continues to be incredible, with more than 100 companies already signed up and many more expected to join before October. We anticipate more than 500 sleepers on the night, creating a fantastic opportunity for people from across the sector to come together. Importantly, sleepers will play a direct role in supporting Action for Children’s work with vulnerable children, young people and families across the UK,” Deeks said.



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Morrisons to clean up overgrown land at Bicester store

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The UK supermarket chain is working to clean up land at its Bicester store in Villiers Road, after residents raised concerns about overgrown vegetation and litter.

The issues were highlighted by local resident Jamie Jessett, who said parts of the property appeared neglected and in need of maintenance.

Concerns focused on the permeable paving area at the front of the store, where weeds have reportedly spread across much of the surface.

Morrisons Daily to clear overgrown vegetation and litter at a ‘below acceptable standards’ Oxfordshire site (Image: Jamie Jessett)

He also raised issues about the rear yard and garage area, including overgrown brambles and weeds, as well as accumulations of litter and debris.

He said: “There is a duty to keep land clear of litter and reasonably tidy and the current condition falls well below acceptable standards, affecting public safety.”

Further concerns were expressed about discarded needles, suspected drug use and anti-social behaviour in the rear area, which borders a public play area used by children and families.

“I am very concerned”, he added, “Families and their young children are leaving or entering the play area behind the shop, which is about 20 footsteps into the tree area where I found a needle in 2023. The safety of the public needs to be taken more seriously.”

The freehold of the Morrisons Daily premises is held by Alliance Property Holdings Limited, a subsidiary of Morrisons.

Responding to concerns about the site, a Morrisons spokesperson said action was already underway.

They said: “We are already working with our maintenance team to clean up the land owned by Morrisons.

“Please note that the area behind the shops is private property and strictly off-limits to the public.”





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