Fourth profitable exit in 2025 for Haatch and Wealth Club investors: fintech Tangible Markets
Don't invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more.
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Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
- You could lose all the money you invest
- If the business you invest in fails, you are likely to lose 100% of the money you invested. Most start-up businesses fail.
- You are unlikely to be protected if something goes wrong
- Protection from the Financial Services Compensation Scheme (FSCS), in relation to claims against failed regulated firms, does not cover poor investment performance. Try the FSCS investment protection checker here.
- Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA-regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
- You won’t get your money back quickly
- Even if the business you invest in is successful, it may take several years to get your money back. You are unlikely to be able to sell your investment early.
- The most likely way to get your money back is if the business is bought by another business or lists its shares on an exchange such as the London Stock Exchange. These events are not common.
- If you are investing in a start-up business, you should not expect to get your money back through dividends. Start-up businesses rarely pay these.
- Don’t put all your eggs in one basket
- Putting all your money into a single business or type of investment for example, is risky. Spreading your money across different investments makes you less dependent on any one to do well.
- A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
- The value of your investment can be reduced
- The percentage of the business that you own will decrease if the business issues more shares. This could mean that the value of your investment reduces, depending on how much the business grows. Most start-up businesses issue multiple rounds of shares.
- These new shares could have additional rights that your shares don’t have, such as the right to receive a fixed dividend, which could further reduce your chances of getting a return on your investment.
If you are interested in learning more about how to protect yourself, visit the FCA’s website here.
Haatch has announced its profitable exit of fintech platform Tangible Markets via a secondary sale, as part of a strategic investment from a new backer.
The exit has delivered a 42.59% internal rate of return (IRR) for investors in the Haatch SEIS Fund 4, some Wealth Club investors amongst them. Note, the Tangible investment was realised in under two years.
This is the fourth profitable exit for Haatch in 2025 (read about the EIS and SEIS fund manager’s 26% IRR exit of CareLineLive, 93% IRR exit of Native Teams and 53% IRR exit of Re-flow). Past performance is not a guide to the future; there have also been failures.
What does Tangible Markets do? Why did Haatch invest and how might you invest in similar companies?
Important: The information on this website is for experienced investors. It is not a personal recommendation to invest. If you’re unsure, please seek advice. These investments are for the long term. They are high risk and can fall as well as rise in value: you could lose all the money you invest. Tax rules can change and benefits depend on circumstances. Quotes in the article represent the views of those quoted and not necessarily those of Wealth Club.
Tangible Markets: investment SaaS platform
According to Tangible Markets, many family offices and high-net-worth investors are seeking liquidity earlier across their long-term private equity investments – so that they can rebalance portfolios or invest in other opportunities, for instance.
Traditional secondary markets are typically dominated by large institutional investors, with limited avenues for investors with smaller stakes to gain access.
Tangible’s software-as-a service (SaaS) platform offers an alternative way for family offices and other limited partners (LPs) to get early exits for private market stakes of $500K to $100 million+.
Tangible serves as a qualified matching service (QMS) – matching LPs with potential buyers of the units they wish to sell. It acts as a clearing house for smaller stakes, aggregating them to attract institutional buyers, and provides trading services – from pricing analytics to digital auctions – to create what Tangible dubs an “internal secondary market”.
Why did Haatch invest?
Haatch is headed by four partners: all entrepreneurs in their own right, with a history of profitable personal exits. They provide the Haatch portfolio with hands-on support, attend board meetings and advise in areas such as go-to-market strategy. Partners have historically invested in every SEIS fund tranche.
Haatch targets B2B software-as-a-service (SaaS) companies in particular, as this is where the team has significant experience and could be well placed to add value.
Haatch seeks to back entrepreneurs – like Tangible’s founders Sarah Brodin, Khalil Hibri, and Nahan Sutton – who are building potentially disruptive digital businesses. These should be companies solving real and current problems for organisations (in Tangible’s case, LPs) – with the prospect in Haatch’s view of becoming indispensable to customers and highly attractive to acquirers.
Tangible aims to significantly enhance liquidity for the fast-growing number of investors in private equity. Its executive team combines deep regulatory and private markets experience with engineering expertise. Collectively, the team has worked on over $5 billion in secondary and M&A transactions (including transactions closed by at previous organisations).
Haatch SEIS invested £250k in 2023, the same year Tangible was founded.
Please note, as the investment has been held for less than the three years – the minimum holding period for SEIS tax relief – investors will not benefit from SEIS tax reliefs and will need to repay any income tax relief already claimed.
2025 has already been a remarkable year for Haatch, with four profitable exits across our SEIS, EIS, and BBB strategies. We are not aware of another fund in our category delivering this level of performance.
How might you invest in similar companies?
The Haatch SEIS Fund is currently open for investment – the next deadline is 30 September 2025 targeting deployment in the 2025/26 tax year – not guaranteed, and you can apply online.
Investors should be able to claim up to 50% income tax and capital gains tax reliefs, as well as other SEIS reliefs. Tax rules can change and benefits depend on circumstances.
Haatch has made a total of 114 SEIS investments to date. Following the exit of Tangible Markets, of the remaining portfolio, 25 companies are held at an uplift averaging 2.6x cost, 75 are held at cost, 6 have failed, there have also been three exits at a loss (August 2025). Past performance is not a guide to the future.
Haatch SEIS targets a return of 5x over a planned holding period of 5-10 years – high risk and not guaranteed.
Currently, Haatch aims to invests around £85,000 from the British Business Bank’s Regional Angels Program, alongside investors in each of its SEIS and EIS fund investments.
The British Business Bank has co-invested with Haatch since 2021 – including in Tangible Markets, their first joint exit.
See performance of Haatch SEIS
Performance of SEIS-qualifying investments per £100
Source: Haatch Ventures, as at August 2025. Past performance is not a guide to future performance. The chart shows realised returns (where share proceeds have been returned to investors as cash) and unrealised returns (where cash has not yet been returned and the value of the investments is based on the manager’s own valuation methodology). There is no ready market for unlisted shares. The figures shown are net of all fees and do not include any income tax relief or loss relief.
Wealth Club aims to make it easier for experienced investors to find information on – and apply for – investments. You should base your investment decision on the offer documents and ensure you have read and fully understand them before investing. The information on this webpage is a marketing communication. It is not advice or a personal or research recommendation to buy any of the investments mentioned, nor does it include any opinion as to the present or future value or price of these investments. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.
Alex Davies
Chief Executive
Alex was a board director at Hargreaves Lansdown, where he worked for 15 years. He was responsible for building Hargreaves Lansdown into the biggest direct-to-consumer SIPP provider in the UK with more than 150,000 clients and over £12 billion under management. He is a keen investor with a portfolio of shares, funds, student property, EIS and VCT investments.