Angel investor set to spread its wings in hunt for growth firms
FUNDING body Minerva Business Angels, based at the University of Warwick Science Park, is looking to further growth after seeing its investments total £2.6m during the last three years.
The investor has backed 22 start-ups businesses during the period and is now looking for fresh high-growth potential firms seeking backing to more onto the next stage of their development.
Tim Powell, who heads Minerva Business Angels, said 2013 promised to be an exciting year for the network as many investments were scheduled to reach important milestones.
Speaking at an event held at the university’s International Digital Lab to commemorate the previous three years, Mr Powell said: “A number of early recipients of Minerva Business Angel investment are now gearing up for growth this year with the launch of new products.
“It’s an important time for our companies, as well as their investors, and a period which promises to be the most exciting in the history of the network.
“We have invested in a diverse range of sectors, from medicine to broadband, at a time when traditional sources of finance remain difficult to access. This underlines the importance of business angel investor networks in the current climate and Minerva is delighted to have played a part in supporting commercial growth for fledgling companies which would not otherwise have been likely – or even possible.”
More than 100 people attended the event, which saw presentations by members of the investee companies summarising their progress to date.
Minerva-invested companies located at the Science Park due to launch products during the next 12 months include Genesis Technical Systems, which has produced a product to increase broadband speed; Cipher Surgical, the developers of a medical instrument; Warwick Audio Technology, which has designed innovative lightweight thin loudspeakers; and Sparcana, which produces beauty therapy appliances and consumables.
