MSIF announces appointment of new director to run £1m Liverpool City Region Angel Network. Tony McDonough reports
MSIF says it has appointed experienced entrepreneur Katie Nicholson as director of the LCR Angel Network.
Launched in 2018 to support early stage high growth businesses in Liverpool city region, the LCR Angel Network was co-founded by Mark Rathbone, a partner at Liverpool law firm Brabners, Grant Thornton and SME loan and equity provider MSIF.
In May 2022 LBN revealed that MSIF was to pump an extra £500,000 into the angel investing pot. This was matched by Liverpool City Region Combined Authority, adding up to a total of £1m.
Since its inception, the network has supported businesses such as Flare, Betmate and most recently, Heatio to gain significant angel investment.
Now, after an “extensive” recruitment process led by CRSI, MSIF has appointed Katie as director of the venture. She is tasked with implementing formal processes and structures to LCR Angels to generate successful investment opportunities.
Prior to joining LCR Angels, Katie launched and managed the Bridge Angel Network in the Isle of Man and participated on the Fund Her North Steering Committee. She also founded strategic and communications business, Petra Consulting.
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“I know how valuable a successful angel network is,” said Katie. “Providing that vital support and funding for businesses at that very early-stage.
“There is a great deal of positive activity and support within the wider LCR entrepreneurial ecosystem, this is testament to the commitment of the Combined Authority, as well as organisations such as MSIF.
“I believe that the LCR Angel Network has a solid foundation on which to build and I am looking forward to driving that growth.”
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 method has been popularised by the BBC reality show Dragons’ Den.
MSIF chairman John O’Brien added: “The Combined Authority has bought into MSIF’s vision for LCR Angels and that it should become an angel network run by angels providing money and, most importantly, hands on mentoring.
“We have selected a proven networker, with a clear understanding of what makes a successful angel network combined with a drive and ambition to succeed.”