Tuesday, July 5, 2016

News: Angel group for Sheffield city region

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An angel investor group has launched in the Sheffield city region to give ambitious businesses the chance to access funding for growth and tap into local expertise and experience.

Supported by law firm, Irwin Mitchell, Angel Group Sheffield City Region follows on the heels of others in Leeds and Hull where businesses have had the chance to pitch for funding to people who have proven success in business.

Angel investors invest in early stage or start-up companies in exchange for an equity ownership interest. Angel investors often provide more favourable terms compared to other lenders, since they usually invest in the entrepreneur starting the business rather than the viability of the business.

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The Angel Groups platform allows angels to make their own investments, in a way that suits them as individuals and as a group. Groups can also syndicate with each other, if required and access to a range of co-investment partners.

The platform was founded by Martin Avison, CEO of Financial Pulse, a Wakefield firm that specialises in creating and funding growth. Martin has raised millions in grant, debt and equity funding for ambitious, high-growth businesses.

Martin Avison, managing director of Financial Pulse, said: "Access to finance is important for any growing business but alongside that they want advice and access to larger networks of people. Angel investors can provide this.

"Typically an Angel is an entrepreneur or former director of a large company who more importantly they want advice and support. Often people who have succeeded in business as either entrepreneurs or directors in major corporates who still have an appetite for business and want to see other new enterprises flourish.

"Happy to invest either as a syndicate or on their own in return for the chance to be involved so their ideal investment is within 35 – 40 miles of their home, which makes Sheffield after our Hull and Leeds launches so attractive."

The group is also on the hunt for potential investors.

Angel Group website

Images: Financial Pulse

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