The withdrawal of money from Prince Andrew’s Pitch@Palace raises questions about the future of the programme
Half of the money left at Pitch@Palace Global, the commercial arm of the Duke of York’s business complex, has been withdrawn within a year, newly filed accounts show.
The latest figures from Companies House show that the company’s revenues fell from £454,979 to £220,990 in the 12 months to 31 March 2024.
The document, signed by one director Arthur Lancaster, does not specify where the £230,000 will be or the purpose of the payment. Instead, it only notes that “the strategic direction and purpose of the company is still being reviewed”.
Set up to connect start-ups with potential investors, the Duke of York’s Pitch@Palace has come under scrutiny following revelations that its China-based partner, businessman Yang Tengbo, is allegedly banned from entering the UK on national security grounds. Yang, who visited Andrew twice at Buckingham Palace and was invited to his 60th birthday party, was linked to the Duke’s senior aide through texts on his mobile phone.
In that letter, assistant Dominic Hampshire praised Yang’s “direction” of moving undisclosed individuals “unobserved in and out of the house in Windsor”. After Yang’s links to intelligence came to light, Prince Andrew insisted he had “ceased all contact” with the Chinese businessman.
The future of the program now appears uncertain as questions mount over its funding and international relations.
