Growth Hub launches business angels network
A new business angels network for entrepreneurs from Cheshire and Warrington holds first Dragons’ Den-style event. Tony McDonough reports
Successful entrepreneurs from Cheshire and Warrington are investing their capital and expertise to create a new business angels network.
Enterprise Cheshire and Warrington’s Growth Hub has launched Cheshire Business Angels – a network of up to 70 investors and high net worth individuals ready to back ambitious small businesses.
Angel investors are typically wealthy individuals who provide capital for early-stage businesses or start-ups, usually in exchange for convertible debt or ownership equity.
This latest initiative follows the work of Gateway Angels, a division of Liverpool SME funding specialist MSIF, has already brought multiple angel investors together with high growth potential businesses since its launch as the LCR Angel Network in 2018.
In partnership with Xeinadin Accountants and Gorvins Solicitors, a Dragons’ Den-style launch event took place at The Aviary, Alderley Park’s Conference Centre.
Entrepreneurs pitched to investors, professional advisers, and banks, collectively seeking just under £2m in funding. Requests ranged from:
- £550,000 for an established medicine and consumer health company to expand its team and accelerate product growth
- £132,000 for a start-up working to revolutionise the production of graphene from waste.
Investors pledged to continue discussions with the companies ahead of formal investment decisions. Successful businesses will secure not only capital but ongoing strategic support from their investors, who receive equity stakes in return.
READ MORE: Portal connects angels with investment opportunities
READ MORE: ‘Unusual’ deal values Mersey law firm Fletchers at £240m
Before the pitches, industry leaders shared expert insight. They included Delyth Edwards from the British Business Bank, Christian Mancier from Gorvins Solicitors and Paul Whitney and Adam Owens from Xeinadin Accountants.
Steve Purdham, chair of the Cheshire and Warrington Business Advisory Board, said: “The Business Angels offer businesses a vital opportunity to secure funding that could transform their operations and establish them among the region’s trailblazing companies.”