GC Angels, Greater Manchester’s response to angel and early stage equity, hosted senior representatives from the Department for Business, Energy and Industrial Strategy (BEIS), the British Business Bank (BBB), UK Business Angels Association (UKBAA) HM Treasury, Innovate UK and angel investors from across the region today (20th November 2018) to discuss the future of angel investment as a force for growth in Greater Manchester and the North.
Jointly chaired at the Manchester Angel Hub by Dr Rannia Leontaridi OBE, Director of Business Growth at BEIS and Jenny Tooth OBE, Chief Executive of UKBAA the roundtable brought together key figures from the investment community to discuss the key opportunities and challenges facing angel investors both in Greater Manchester and nationally.
Dr Rannia Leontaridi OBE, from BEIS outlined the Government’s latest policies and welcomed the opportunity to better understand the role played by the angel investment community in the wider business landscape.
The event, held in the recently launched UKBAA Manchester Hub at GC Angels, also saw extensive discussions of how the Government and supporting partners could further contribute to the growth and development of innovative sectors, how to improve the environment for angel investors and how to help businesses better prepare for investment. A number of angel investors from across the region also attended, putting forward their own experience of working with growth and start-up businesses.
Paul Breen, Director of GC Angels, said: “The roundtable today was an invaluable opportunity to bring together the organisations and individuals that are shaping and implementing investment activity for the future. We very much welcomed this opportunity to share our experiences and put forward our views and plans to Government and look forward to working together to ensure that angel investment continues to support and drive the UK economy.
“The Northern core cities are home to some of the UK’s most inspiring and ambitious businesses. Our mission, working with BEIS and our partner organisations, is to make more capital available, enable innovation and allow more early stage businesses to grow.”
In addition to the networking services that support over 400 businesses a year, GC Angels has raised investments in the last 18 months of over £17m into 20 businesses and have now started to invest directly through the GM co fund, completing 3 investment deals, leveraging £1.5m into innovative high growth businesses.
GC Angels supports businesses seeking access to angel investment, ranging from £25,000 up to £2m and is the GM Combined Authority's response to supporting the early stage investment market. GC Angels integrates with the range of wider GC business finance and business support services. It incorporates a UKBAA Angel Hub for Greater Manchester offering a focal point to connect and build angel investing across the region; the network offer; the fee-bearing advisory service alongside the new GM Co-Investment Fund, providing an innovative, single solution equity funding service.