OVHcloud and Alchemy have entered a strategic relationship centred on a multi-chain development platform for Web3 developers.

Under the agreement, Alchemy will offer its tools and blockchain infrastructure on OVHcloud’s cloud platform, giving developers access to services for decentralised applications and blockchain networks across multiple regions.

The tie-up brings together a European cloud provider and a Web3 infrastructure company that says it supports 70% of crypto applications and more than USD $4 trillion in annual on-chain transactions. It also expands Alchemy’s multi-cloud set-up by linking OVHcloud’s infrastructure with its existing cloud estate.

The relationship targets app and chain developers seeking infrastructure across multiple blockchain ecosystems. It is designed to support users ranging from startups to institutions operating in regulated markets.

Multi-cloud setup

OVHcloud’s platform connects with Alchemy’s existing infrastructure, including hyperscale cloud services. This allows Alchemy to operate across more than one cloud environment while adding OVHcloud’s bare metal servers in different regions.

The arrangement has already influenced Alchemy’s regional expansion, according to the companies. OVHcloud said its pricing and infrastructure model helped Alchemy scale into new markets earlier than planned, including those with tighter regulatory requirements.

That matters in a sector where infrastructure costs, latency and regional presence can shape where developers launch products and how they manage compliance. Web3 companies often spread workloads across several providers to reduce concentration risk and improve resilience.

Omar Abi Issa, Global Director for Blockchain, Web3 and AI at OVHcloud, described Alchemy as a key player in the blockchain market.

“Alchemy is one of the cornerstones of the blockchain industry,” said Omar Abi Issa, Global Director for Blockchain, Web3 and AI at OVHcloud. “The team provides essential building blocks for the industry across a number of chains and ecosystems, offering functionality including orchestration, dev tools, wallets and data for blockchain-native design, development and hosting, especially for businesses that require their infrastructure to comply with industry regulations. We’re delighted to formally announce our relationship, and together we will power the future of Web3.”

Alchemy cast the partnership in more operational terms, emphasising reliability, pricing and geographic reach.

“Infrastructure is the thing most developers don’t want to think about. Our customers range from startups shipping fast to institutions operating in highly regulated markets, like JP Morgan, Robinhood, Visa, Stripe and Coinbase, and the common thread is that they all need reliability and performance without overpaying for it. OVHcloud’s bare metal foundation lets us deliver that across regions at a price point that actually makes sense for Web3 builders,” said William Platt, Chief Operating Officer at Alchemy.

Years in making

The relationship did not begin with this agreement alone. Abi Issa said the companies’ ties go back several years through work involving Bware Labs, a blockchain infrastructure company acquired by Alchemy.

“The relationship has been built over a number of years,” said Issa. “We initially worked with Bware Labs in 2022, helping them deploy Blast, one of the world’s fastest blockchain API platforms. Bware was acquired by Alchemy in 2024, and during discussions with the team, we realised that a strategic relationship between our two brands had truly incredible potential.”

The Bware Labs link helps explain how the current arrangement developed, suggesting the companies had already tested technical and commercial co-operation before broadening the relationship under the Alchemy brand.

OVHcloud has also been building its profile in blockchain and Web3 infrastructure as part of a wider push beyond traditional cloud hosting. The company operates more than 500,000 servers in 46 data centres across four continents and serves 1.6 million customers in more than 140 countries, according to company figures.

Alchemy, for its part, is expanding its reach among developers building blockchain applications, layer-two networks and financial services products. Its customer list includes large financial and payments groups, reflecting how parts of the digital asset infrastructure market are seeking closer ties with mainstream institutions.

The companies also pointed to earlier work around OVHcloud’s blockchain startup accelerator, where Alchemy supported efforts to build links between startups, larger companies and partners working on blockchain services.

“We’re proud to be working with such a forward-looking organisation, enabling Alchemy users to develop their visions for new blockchain applications at speed and without restrictions, knowing that the underlying cloud infrastructure is also built on the core blockchain ethos, supporting Alchemy’s vision. We can’t wait to see what the future holds,” said Issa.

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.

Chartered accountancy firm Ridgefield Consulting says that mixing business and leisure on the same trip is increasing confusion about what can legitimately be claimed.

The firm warns that, with increased scrutiny from HM Revenue & Customs, mistakes can lead to penalties, interest on unpaid tax or even further investigation.

Where a trip is undertaken solely for business purposes, costs such as travel, accommodation, subsistence and conference fees may be allowable, provided they are incurred “wholly and exclusively” for the purposes of the trade.

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However, once any personal element is introduced – for example, extending a stay or taking family members along – the position becomes more complex and not all costs will remain deductible.

Flights are one common flashpoint, with only the proportion attributable to business use normally claimable if a trip includes both work and holiday time.

Hotel bills must also be split, with additional nights for leisure funded privately and any apportionment carried out on a reasonable basis.

Family members may accompany a business traveller, but their travel and accommodation costs are treated as personal expenditure and should be excluded from business claims.

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Subsistence is generally allowable only where it arises because of business travel to a temporary or irregular place of work, not for entertainment or non‑essential dining.

Ridgefield Consulting says the practical difficulty lies less in the rules themselves and more in applying them when trips blend work and leisure.

The firm advises business owners to establish and document the primary purpose of each trip before booking, clearly identifying the meetings, conferences or client engagements involved.

Any planned personal time should be recorded separately from the outset to make it easier to distinguish between business and private costs later.

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It also recommends separating costs in real time rather than retrospectively, allocating flights, accommodation and subsistence between business and leisure as they are incurred.

Accurate records, including invoices and notes of business activity, help to strengthen the audit trail if HMRC reviews expense claims.

Managing director Simon Thomas said: “Many business owners understand that travel costs can be claimed when incurred for business purposes.

“However, as we move further into a hybrid working world, where trips increasingly combine both business and leisure, the distinction between allowable and non‑allowable expenses is becoming less clear.

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“This lack of clarity not only raises the risk of incorrectly claimed expenses but also increases the likelihood of fines or, in the worst-case scenario, HMRC investigations.

“A common misconception is that the presence of a business meeting or event allows the entire trip to be treated as deductible.

“In reality, only costs that are directly attributable to business activity can be claimed.

“Where personal elements are introduced, it is essential that costs are clearly separated and documented to ensure compliance and unexpected tax liabilities.”

With more businesses moving onto Making Tax Digital and reporting more frequently, Ridgefield Consulting says clear separation of business and personal costs, accurate apportionment and robust record‑keeping are increasingly important to avoid problems with HMRC.