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Eos secures £10m commitment from British Business Investments

Press release 21 August 2023

Eos Advisory LLP (“Eos”), an impact investment firm based in St Andrews, has announced that British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, will commit up to £10 million to Eos via its Regional Angels Programme. The funding will be allocated to invest alongside Eos’s Angel Syndicate and EIS Innovation Fund.

Eos backs companies underpinned by innovative science, engineering and technology, aimed at addressing societal and environmental challenges worldwide. Eos’ investment strategy focuses on early-stage equity investments across four key areas: i) disease diagnosis, prevention and treatment; ii) energy security, climate change and pollution; iii) food and water security, and; iv) sustainability of industrial processes and infrastructure.

British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, aims to increase the supply and diversity of finance for smaller businesses across the UK by boosting the lending capacity of a range of finance providers. Since it was established in 2014, British Business Investments has committed more than £3.3 billion to providers of finance to UK smaller businesses.

The British Business Investments commitment will enhance our ability to back some of Scotland’s most exciting early stage science and technology companies. We are already bringing this relationship to life, with recent investments into Bioliberty and Dxcover, and are in conversations about a strong pipeline of opportunities. Andrew McNeill Managing Partner, Eos
We are pleased to be working with British Business Investments, to have their support, and to become one the latest Scottish investment firms on its Regional Angels Programme. The initiative enables Eos to extend our support for companies targeting global issues, and having a positive impact on the world. Andrew Durkie Partner, Eos

The firm added to its portfolio and team following a record year of activity in 2022. Investee companies are now at 19, with the latest investment in Edinburgh-headquartered robotic rehabilitation specialist, Bioliberty, during Q1. In its latest hire, Jill Arnold, former Head of SIS Ventures, joined Eos as Investor Relations Director.

The Regional Angels Programme plays a vital role in developing the early-stage funding ecosystem across the UK Nations and Regions, bringing together finance, business experience and skills to support the development of high-growth smaller businesses.

By investing alongside Eos’s Angel Syndicate and EIS Innovation Fund, this £10m commitment from British Business Investments will support early-stage science and technology companies in Scotland and across the UK.

Judith Hartley CEO, British Business Investments

Eos’s portfolio includes Bioliberty, Carcinotech, Chromacity, Cumulus Oncology, Dxcover, Nth, Green Bioactives, ENOUGH, GM Flow, ILC Therapeutics, Naturbeads, Novosound, Penrhos Bio, RAB Microfluidics, Rooser, Waire Health, Wobble Genomics, and Xelect.