News

Cornwall games studio TruePlayers has successfully completed a funding round that includes a £140,000 investment from the British Business Bank via The FSE Group. The latest funding follows a 2022 investment made by FSE and will help the company build on its recent commercial momentum and growing interest from both gamers and new commercial channels.

Launched in 2021, TruePlayers originally focused on mobile‑first titles before pivoting to concentrate on PC and console gaming in response to market changes. Their latest release, FireHawk FPV, is a high‑fidelity drone‑flying simulator that has already sold more than 10,000 units. Designed with highly realistic physics and controls, the game has picked up strong community reviews and caught the attention of organisations exploring new simulation‑based training tools.

This new round of funding will allow TruePlayers to continue developing FireHawk FPV, including introducing new game modes, adding more community‑driven gameplay features and launching multiplayer, which is one of the most requested additions from players. The investment will also support the studio in bringing the game to new gaming platforms, opening the door to larger audiences. Alongside consumer growth, the business is expanding discussions with commercial partners about using FireHawk’s hyper‑realistic controls for training.

The funding takes the total British Business Bank investment to £365,000 via its regional Cornwall & Isles of Scilly Investment Fund (CIOSIF). Although CIOSIF is closed to new investees, FSE is able to further support businesses that have previously benefited from the fund.

Adrian Ruiz Langan, CEO of TruePlayers, said: “We’re incredibly proud of what our small team has achieved over the past two years. FireHawk FPV has demonstrated clear commercial potential and opened doors to major new markets. This follow‑on support from FSE enables us to accelerate development, expand our team with essential expertise, and pursue both gaming and B2B opportunities with confidence. We’re excited for the next phase of growth.”

Matt Browning, Investment Manager at The FSE Group, commented: “TruePlayers has shown real resilience and creativity in evolving their strategy and delivering a commercially successful title in FireHawk. The team has demonstrated technical capability and clear market understanding, proving a strong demand for what they’re building. Their early traction in the new commercial avenues highlights the wider potential of their technology. We’re pleased to continue supporting the team as they take this next step.

Funding through CIOSIF came to an end for new investees in December 2023 but wider funding is now available through the British Business Bank’s £200m South West Investment Fund providing loans from £25k to £2m and equity investment up to £5m.

CIOSIF has been supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.

The FSE Group is pleased to announce the appointment of Julie Silvester as its new CEO.

Julie brings extensive experience from nearly two decades at FSE with a proven track record in UK regional fund management, early‑stage equity, and venture debt. Having been part of FSE’s leadership team since 2006, she has played a pivotal role in growing the organisation’s funds under management and establishing FSE as a leading regional fund manager.  

In her most recent role as Managing Director, Fund Management, Julie oversaw investment activity across six UK regions, led investment strategy and policy implementation, and built diverse, high‑performing teams.

Julie also brings more than a decade of City‑based experience in leveraged and corporate finance from her earlier career at NatWest Markets and Hawkpoint Partners.

Speaking about her appointment, Julie Silvester said:
“I’m honoured and excited to lead FSE into its next phase of growth. I look forward to bringing together our team and investment partners to fuel scaling businesses underserved by traditional funding, with socially responsible development capital that genuinely moves the needle for communities and regional economies.”

Martin Rigby, Chairman of FSE, welcomed the appointment:
“Julie’s depth of experience, strategic mindset, and long‑standing commitment to FSE’s mission make her the ideal fit as our next CEO.  Her vision will help ensure that FSE continues to expand its impact, backing ambitious businesses that might otherwise be overlooked by mainstream finance while generating attractive returns for its investors.”

Julie succeeds Paul Marston, who has led the organisation for the past six years. The Board is indebted to Paul for his incisive leadership and unflagging commitment during a period of unprecedented economic and business challenge.

Julie’s appointment comes at a time when impactful investment and regional economic development are more important than ever. Her commitment to FSE's purpose of championing innovative businesses and supporting sustainable growth will contribute to greater prosperity across the UK's regions.

Newquay based Green Park Pharma has secured £500,000 equity funding from the British Business Bank’s South West Investment Fund via appointed Fund Manager, The FSE Group, as part of a £2.2million pre-series A funding round with the option for a further £4.5m investment in later rounds.

Green Park Pharma specialises in developing liquid formulations of existing medications. The company's patented technology provides solutions for the currently unmet clinical needs of an estimated 20-40% of patients globally who struggle to swallow tablets.

Developing a liquid formulation from a solid medication is traditionally done by a pharmacist, reconstituting medicines from dried powder, but these liquid forms have a limited shelf life and often need refrigeration. Green Park Pharma’s advanced technology can create equivalent products in a stable, ready-to-use liquid form that is fully licensed, and patent protected.

Richard Reavley, Green Park Pharma Group CEO said: “Difficulty taking tablets is a common problem in paediatrics but extends to adults experiencing swallow impairment, including those suffering from serious conditions such as stroke, dementia and some forms of cancer. Our liquid products are effective and stable at room temperature with a long shelf life, improving medication adherence, dosage accuracy and convenience for the NHS, patients, and caregivers. We are thrilled to receive this investment, which will help us make a significant impact on the global pharmaceutical landscape.”

The investment will enable Green Park Pharma to expand its operations and workforce, with plans to create ten new roles over the next three years as part of its strategy to enhance global reach and operational capabilities.

Anna Staevska, Investment Manager at The FSE Group, commented: “Green Park Pharma's robust business model and patented technology present a unique opportunity that we’re excited to be a part of. The secured funding positions the company well for rapid development and market penetration and we look forward to working with them on this journey.”

Paul Jones, Senior Investment Manager, British Business Bank said: “Green Park Pharma is an excellent example of an innovative, high-growth business that the South West Investment Fund was created to support. Their liquid-based medicines address a clear clinical need for alternative drug delivery and this investment reflects our commitment to increasing access to equity finance for ambitious businesses across the region.”

Green Park Pharma is led by industry veterans with extensive experience in pharmaceuticals, product development, and strategic partnerships. With a proven track record of launching over 40 products globally, the team is committed to delivering innovative healthcare solutions and well-equipped to drive the company's ambitious growth plans.

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. It offers a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million.

The fund is increasing the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.

Ace High Sports, an early-stage video game studio based in Bournemouth, has secured £300,000 in equity funding from the British Business Bank’s South West Investment Fund, via appointed Fund Manager, The FSE Group.

The investment is part of a £0.6 million funding round that also includes private investors, alongside additional grant funding from the UK Games Content Fund.

The funding will accelerate Ace High Sports’ growth strategy, enabling it to pioneer a new genre of sports-led card games while building a distinctive and highly scalable games portfolio. The company’s first title, Touchdown Poker, is scheduled for release in 2026. Fusing the mechanics of Texas Hold’em with the excitement of American football, the game gives players a dynamic experience that sees them bluff and blitz their way to a winning score.

Mike Hawkyard, Ace High Sports CEO and Co-founder, said: “This investment is a major step forward for Ace High Sports. With support from the South West Investment Fund, FSE and our other investors, we can scale the business, grow our team and bring Touchdown Poker to life across multiple platforms. Our goal is to create games that feel instantly familiar yet completely fresh, and this funding allows us to make that happen. Touchdown Poker is just the beginning of a portfolio that will redefine how audiences engage with sports and traditional card games.”

Matt Browning, Investment Manager at The FSE Group, added: “Ace High Sports demonstrates the qualities we look for in a growth business: experienced leadership, innovative product design, and a scalable commercial model. With strong advisory support, scalable plans, and validation from the UK Games Content Fund, the company is well-positioned to capitalise on growth in the creative industries, and we are excited to be working with them as they grow.”

Paul Jones from the British Business Bank, said: “The creative industries, including games development, is an important growth sector in the South West, and Ace High Sports is a good example of the innovative, high-potential businesses the South West Investment Fund was set up to support. Our investment will help Ace High Sports accelerate development while supporting skilled job creation here in the region. We’re delighted to back their ambition and look forward to seeing the company scale and succeed.”

The global video games market is forecast to generate around $600 billion in annual revenue by 2030[1], with sports titles and card games expected to deliver strong, sustained growth. By creating sports‑themed card-based games for PC and mobile, Ace High Sports is well-positioned to meet evolving player demand for fresh twists on familiar experiences.

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. It offers a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million.

The fund is increasing the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.

Carbon-negative rum producer Two Drifters Distillery has secured a loan from the British Business Bank’s South West Investment Fund (SWIF), via appointed fund manager, The FSE Group, enabling the business to increase production capacity and expand trade distribution in both domestic and international markets.

The Devon distillery is a rum producer making its spirit entirely from scratch — fermenting, distilling, ageing and bottling on-site. Two Drifters operates an all-electric distillery powered by 100% renewable energy and applies a self-imposed internal carbon tax to guide procurement and operations toward the lowest-carbon options available. This framework positions the brand as one of the UK’s most sustainability-led rum producers.

The loan will allow the distillery to scale production to meet rising demand from the on-trade and retailers, and support continued overseas expansion, where interest in British rum — and sustainable production — is growing.

Co-founder Dr Russ Wakeham said:

“This support comes at exactly the right moment. Demand for our rum is increasing in the UK and internationally, and this loan allows us to build stock, strengthen production and keep full control of the business as we grow. The South West Investment Fund understands the needs of manufacturers, which makes it an ideal fit for us.”

Co-founder Gemma Wakeham added:

“We’ve always believed that British rum can stand alongside the best in the world — and that it can be made more sustainably. Running an all-electric distillery, using renewable energy, and applying our own internal carbon tax keeps us accountable to that. This funding will help us produce more, serve more customers and build the Two Drifters brand across new markets.”

Investment Manager at The FSE Group, Hannah Sprague added:

"Two Drifters is a great example of a South West business combining innovation with sustainability. Their approach to carbon-negative production and renewable energy is impressive, and we’re pleased to support their plans to grow both in the UK and overseas. It’s exciting to see businesses like this driving positive change in the drinks industry."

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. It offers a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million.