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Early-stage capital feels scarcer. Here’s what’s really happening

UK early-stage funding stabilised in 2025, but capital is more selective, concentrated and network-driven than ever.

Lessons from launching ThatRound in 2025

What we've learnt in our first year building the infrastructure for early stage founders to raise investment.

What are warm investor intros, and how can UK startup founders get them?

Warm intros aren’t powered by friendship. They’re powered by trust and fit. Investors prioritise deals from sources they trust, not random inbound emails. But relying on personal networks can create uneven access to capital and limit who gets seen. In this piece, I explain what a warm intro really is, and how structured, data-driven matching can create trusted introductions at scale.

Bradley Jones

February 16, 2026

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Recent Blog Posts

What are warm investor intros, and how can UK startup founders get them?

Warm investor introductions depend on trust, alignment and relevance. It doesn't always come from relying on your network.

Reflections from the Early-Stage Northern Showcase 2026

Brad Jones shares his takeaways from the Early-Stage Northern Showcase 2026 on what’s still broken in early-stage fundraising.

Lessons from launching ThatRound in 2025

What we've learnt in our first year building the infrastructure for early stage founders to raise investment.

What the Budget Means for UK Founders

How the 2025 Budget reshapes EMI, EIS/VCT and UK listings — and what early-stage founders should expect next.

What founders should be asking for from the November budget

Britain’s founders still build despite the system. It’s time policy caught up — and proved we still back our own builders.

Guides for UK Founders

TAM, SAM and SOM: a practical guide for early-stage founders

Market sizing is one of the quickest ways to show discipline in your pitch — and one of the easiest places founders slip.

Angel investors vs angel networks vs angel syndicates – what’s the difference?

Angel investors, networks, and syndicates: understand the real differences and how they impact your fundraising strategy

What is the difference between ThatRound, angel investment networks and other fundraising platforms

There are lots of different platforms to help find investors, so how is ThatRound different?

How to demonstrate traction to investors: a founder’s guide

Showing traction is critical to getting funded, but what is it and how do you prove it?

How to create a 5-minute video pitch that will impress investors

Learn to craft a compelling video pitch that captures investors' attention and secures funding.

Download our pre-raise checklist for UK startups

Thinking about raising? Our guide covers everything you need to have sorted before you get started.

Spiral-bound guide titled 'The Pre-Raise Checklist for UK Startups' by ThatRound with a UK cityscape background and a tick mark icon.