Lord David Young, Advisor to the Prime Minister on Enterprise

I know from my experience of being a business investor that there are tremendous opportunities and rewards from angel investment in dynamic small firms. The very generous incentives offered through tax relief like the Seed Enterprise Investment Scheme mean rewards for investors can now be even greater. For an investee business, it can not only gain from an angel's financial investment, but also the expertise and business and professional nous that can come with it.

I very much hope that Be An Angel can whet the appetite of many people looking for somewhere to invest their money and time, and encourage them to use this superb online resource to find out how they can go about joining this exciting and important investment community.

Lord Young

News

Winchester-based invoice trading company Platform Black have received equity funding from Business Angels in the Investor Network managed by the FSE Group in order to scale the business.

The Angel CoFund has today (Tuesday) announced the completion of its first five investments, with a total of £7.2 million committed to small and medium sized enterprises (SMEs).

Business and Enterprise Minister Mark Prisk joined some of the first businesses to receive funding, following the end of a strong first quarter for the Angel CoFund, which was launched in November 2011.

LBA has become a syndicate partner of the £50m Angel Co Fund (CoFund) following completion of the CoFund’s first investment being £211k invested into Loughborough-based Phase Vision. This investment completed a £1.5m funding round, which was cornerstoned by a £643k investment by an LBA syndicate. The LBA syndicate was led by LBA investor Nathan Hill of Qi3 Accelerator and included a £100k investment by the LBA EIS 2011 Roundtable Syndicate Fund.

Early Stage Cambridge based polymer coatings specialist CamStent has successfully closed an oversubscribed £400k funding round, closing with subscriptions in excess of £500k. The round was cornerstoned by a £114k investment by new and existing LBA shareholders, including an £18k follow on investment by the LBA EIS Roundtable Syndicate Fund 2011. Investor funds have been supplemented by a £250k non-dilutive grant from the Technology Strategy Board.

Pure Global Ltd, a Hertfordshire-based social enterprise that have produced the world’s first lever-drive propulsion accessory for manual wheelchairs ‘NuDrive’, have received financing from the Social Impact Co-Investment Fund managed by The FSE Group and lead partner Resonance.

Minerva Business Angel Network part of The University of Warwick Science Park were delighted to successfully run their first web cast Investment presentation for Genesis Technical Systems to Minerva’s large database of members and other existing investors in Genesis TS.  

Medical materials company, CamStent Ltd, has successfully completed a second funding round and Yorkshire Association of Business Angels (YABA) members have played a crucial role in its success.

Following on from the £350,000 raised in the first funding round in July 2011, CamStent aimed to raise a further £400,000 to progress the application of its patented polymer coatings which resist the growth of bacteria in medical devices. The funding round was oversubscribed and closed when applications reached £508,000.

Seed stage London based crowd-sourced photo sharing service, Glopho, has closed a £150k SEIS structured funding round which was corner stoned by a £100k investment by a syndicate of 4 LBA angels. The company has developed an internet based free-to-use website for people to upload their news photos and is supported by purpose-built smartphone apps across iOS, Android and Blackberry.

MBM Commercial have advised on 5 Angel deals since the end of March. See below for details:

Monday 28th May saw the launch of Lord Young’s report and guide on small business start-ups and enterprise. Lord Young’s report can be accessed:

Within the last six weeks Central England Business Angels has invested over £1M of Angel Private Equity into 5 companies. The investee companies included Digital Gaming, two manufacturing opportunities, a product distribution into the major retailers, and a University spin-out. Of these, the University Spin-out was an SEIS investment, the others qualified under EIS.

Central England Business Angels is pleased to have introduced the first investment to the Social Impact Co-Investment Fund. It was fortuitous that we were working with Nu Drive, a company producing a new design for wheel chair leveraged propulsion, at the point when FSE approached us with the Social Impact Fund. We immediately saw a match between the social impact of Nu Drive and the need for additional money while preserving equity.

IBA is pleased to learn that the UK Government has now received State aid approval from the European Commission to make the following changes to the Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) scheme: