Angel Investing recognised at BBAA National Awards 30 June

British Business Angels Association
4 July 2011

Nearly 200 people gathered together in the unique setting of the Museum of London, to celebrate achievement for early stage investors and entrepreneurs at the BBAA National Awards, on Thursday 30 June.

Describing his own journey from early stage Cambridge spin-out, to an international, $7bn-cap, FTSE 100 business, guest speaker Dr Mike Lynch, founder of Autonomy spoke about the key role that Angel investment had played in the early growth of his company. “The pipe from start-up to world-class business is now unblocked and Angels are a significant part of this process. We are going through a period of explosive change with many opportunities for small businesses. Now is the time for the Angel community to be vocal and champion success” said Lynch.

The event, backed by City of London Corporation recognised the importance of angel investing for the growth of innovating small businesses.Tim Campbell, ex Alan Sugar’s Apprentice, Founder of the Bright Ideas Trust, presided over the ceremony with seven awards presented to entrepreneurs and investors across key areas of the market.

The BBAA Awards Winners for 2011 were:

  • Angel-VC Investment of the Year: ELONICS – Investors: Scottish Equity Partners with Octopus
  • Angel Mobile Investment of the Year: ipadio- Investors: London Business Angels and LBA EIS Fund
  • Angel Med Tech-Healthcare Investment of the Year: Fertility Focus – Investors: Envestors & Midven
  • Angel Clean Tech Investment of the Year: Syrinix Ltd- Investors: London Business Angels EIS Fund and London Business Angels
  • Angel Social Impact Investment of the Year: Panahpur Foundation (James Perry) – Nominated by Charity Bank, Finance South East; Resonance Fund and Fair Finance
  • Early Stage Team of the Year: Northstar Ventures
  • Angel Investor of the Year: Dale Murray


Detailed opinions of the Judges:

Angel-VC Investment of the Year:
ELONICS – Investors: Scottish Equity Partners with Octopus

The judges felt that the scale of the transaction and the level of contribution from the Angels was an excellent demonstration of Angels and VCs working together to conclude a major funding round. We believe that co-operation of this type represents the future for early stage technology funding.

Angel Mobile Investment of the Year:
Ipadio- Investors: London Business Angels and LBA EIS Fund

With the ability to link a telephone call from any telephone, anywhere in the world to a website,the Judges felt that this was a highly innovative concept and technology offering and could become the new ‘Skype’. Ipadio provides a substantial growth opportunity, having gained strong traction with several referenceable blue chip customers. It combines strong financial performance with a highly attractive revenue model and strong execution from Management

Angel Med Tech-Healthcare Investment of the Year:
Fertility Focus – Investors: Envestors & Midven

The judges felt that Fertility Focus has demonstrated the capability to halve the time and cost in the growing market of female infertility which could be transformative. Moreover the angel investment has encouraged not only parallel VC investment, but also corporate investment from a partner who will aid access to the important US market.

Angel Clean Tech Investment of the Year:
Syrinix Ltd- Investors: London Business Angels EIS Fund and London Business Angels

Syrinix impressed the Judges with their approach to the water market and the fact they are already securing orders. With advances in technology — sophisticated sensor networks, smart metering and analytics, Syrinix enables water companies to be smarter about how they manage mains supplies and prevent leakages. Syrinix is a viable business in a growth market.

Angel Social Impact Investment of the Year:
Panahpur Foundation (James Perry) – Nominated by Charity Bank, Finance South East; Resonance Fund and Fair Finance

The judges noted that this was a very competitive category, and this is an encouraging sign for the future involvement of Angels in social investing. James Perry with the Panahpur Foundation demonstrated personal commitment, drive and professionalism in creating a vehicle which could have profound long term benefits to social investing

Early Stage Team of the Year:
Northstar Ventures

The judges felt that Northstar has been instrumental in making investments and raising funds across a number of stages and sectors in an extremely challenging environment. They demonstrate the point perfectly that in the future fund managers themselves will have to be every bit as entrepreneurial as the companies in which they invest

Angel Investor of the Year:
Dale Murray

The judges felt that Dale represents a new breed of Angel investors; bringing personal experience of building and successfully exiting a start up business and international investment expertise, having personally invested £1m to date in a variety of technology/product sectorsand able to tailor her input to the differing needs of investee companies whilst playing a key ambassadorial role for female Angel investors.

Background on the BBAA:

The BBAA is the national trade association representing angel and early stage investment in the UK. Each year angel investors account for around £750m investment in SMEs in the UK – the single largest source of early stage capital in this country. The BBAA works to create an eco-system to help support the industry, bringing together angel networks and investors, early stage venture capital funds and advisors. The BBAA exists to represent UK early stage investment and has a number of roles which include:

  • Promoting angel finance as the primary mechanism for new and high growth potential businesses to fund their growth requirements.
  • Encouraging contact and the exchange of experience and ideas between angel groups and other sources of funding – most notably VCs through networking events and regular communication with its membership.
  • Creating links with other UK and international associations and organisations.
  • Engaging in regular dialogue with government and other opinion formers at a national level to help shape policy for the benefit of the industry.
  • Having an agreed code of conduct for all Members to promote best practice and transparency across the industry.

For more information contact Jenny Tooth jenny@bbaa.org.uk Tel: 0207 321 5675 or visit www.bbaa.org.uk

The City of London Corporation

As the body providing local government services to the Square Mile, the City of London Corporation’s primary role is to support and enhance the business City – a world-leading international financial and related business services centre. The City of London Corporation is also committed to working with its neighbours to support the regeneration of local communities. The City of London or “Square Mile” shares its borders with some of the country’s most deprived boroughs where unemployment remains high.

www.cityoflondon.gov.uk/urbanregeneration. Contact Hannah Adam at Rain Communications UK T: 020 7828 0118  E: firstname.surname@raincommunications.co.uk