A planned takeover of Prince Andrew’s former business networking venture, Pitch@Palace, appears to be in jeopardy, casting further uncertainty over his financial future.
Dutch firm Startupbootcamp (SBC) had been in talks to acquire the entrepreneurial network, which once connected start-ups with investors and business leaders. However, sources close to the negotiations have told the BBC that no deal has been signed, and no financial transactions have taken place.
The stalled negotiations come as Prince Andrew faces intense scrutiny over his finances, particularly how he can afford to maintain his 30-room Royal Lodge mansion in Windsor after being cut off from royal funding by King Charles.
Uncertain Future for Pitch@Palace Takeover
A takeover of Pitch@Palace—founded by Prince Andrew in 2014 as a Dragon’s Den-style competition—had been expected to provide him with a much-needed financial boost. SBC had publicly announced plans to take over the network in February, describing it as a “great, but dormant” asset with a strong legacy of business contacts.
The Dutch company, which mentors start-ups and has invested in 1,700 early-stage businesses, had appeared enthusiastic about reviving Pitch@Palace. Jointly branded events had even been held. However, despite talks at Buckingham Palace and a press release highlighting the “immense value” of the network, sources now indicate that negotiations have failed to materialize into a formal agreement.
Bahraini Investment Falls Through
The takeover was originally linked to Waterberg Stirling, an investment company registered in Bahrain in late 2024 by Dominic Hampshire, a long-time adviser to Prince Andrew. Bahrain has strong ties to the British royal family, with King Hamad of Bahrain visiting King Charles in Windsor in November 2024.
SBC had initially presented its partnership with Waterberg Stirling as part of the Pitch@Palace deal, but sources now say the Dutch firm is seeking to cut ties with the Bahraini investment group.
Adding to the intrigue, businessman Adnan Sawadi, who has been linked to Waterberg Stirling, had promoted the venture in China last July. His presentation introduced Innovate Global, a successor to Pitch@Palace, and outlined plans to connect Middle Eastern investors with Chinese start-ups.
Notably, Mr. Sawadi’s speech also praised Yang Tengbo, who was later accused of being a Chinese spy attempting to influence Prince Andrew—claims Yang has denied.
What’s Next for Prince Andrew?
With the Pitch@Palace deal now uncertain, Prince Andrew’s financial future remains precarious. His ability to fund security and maintenance at Royal Lodge—a 19th-century estate leased from the Crown Estate—is increasingly in question.
Prince Andrew has yet to comment on the stalled negotiations, and with no deal in place, his search for financial stability continues.
