Growth plan for YABA as Braveheart strikes deal
BRAVEHEART Investment Group is to take over the operation of the Yorkshire Association of Business Angels, the high-net worth membership group that invests in early stage businesses.
YABA will be run by Braveheart’s subsidiary Envestors. Envestors is combining the rights to operate YABA with the YABA secretariat, previously operated by Viking Fund Managers.
Scott Haughton, a director of Envestors, said: “YABA has been adapting its business model to develop its longer term sustainability.
“Envestors is ideally placed to power the growth and sophistication of YABA with increased deal flow and syndication opportunities for its members alongside Envestors’ extensive private investor network.”
TheBusinessDesk.com reported last year how YABA had re-launched after funding support from now defunct regional development agency Yorkshire Forward had come to an end.
YABA has more than 100 members who it is thought have a combined total of more than £30m to invest.
The organisation has completed more than 110 deals over the past 10 years with individual members’ investment levels randing from £30,000 to £300,000.
Meanwhile, Braveheart, which is listed on AIM and provides debt/equity and advisory services to SMEs and also services the investment requirements of business angels, high net worth individuals, family offices and public sector organisations, has also announced another change in Yorkshire.
Neon Capital Partners, the Braveheart company that manages the £48m Finance Yorkshire Equity Fund, has acquired the fund management business of its sister company, Viking Fund Managers.
Neon has changed its name to Viking Fund Managers following the deal.
Explaining the move, Braveheart’s chief executive Geoffrey Thomson said: “In the 12 months since the group acquired Neon we have invested in a good team to deliver Neon’s fund management operations in Yorkshire and it was a natural decision to bring together our two Yorkshire fund managers.
“Viking Fund Managers has a proud history of supporting businesses in Yorkshire and is the brand that we have chosen to continue to operate under, in the region.”
