New Anglia Capital is a co-investment fund which will bring businesses and 'angel investors' together to kick-start new products and innovative ideas into thriving new businesses, as well as support existing high-growth companies.
Anglia Capital Group has been selected by New Anglia LEP as the investment partner to the co-investment fund: angel investors would invest 50% of the risk capital in the successful businesses, with New Anglia Capital providing the remaining 50%. The aim is to encourage economic development by job creation in early-stage businesses with high-potential in key sectors where there is strength in the region: e.g. engineering, life sciences, agri-tech, health, energy, communications and digital.
“The ethos is to bring like-minded investors and budding entrepreneurs together to provide the capital to launch an inspiring idea or grow an innovative start-up,” said Chris Dashper, Head of Programmes at New Anglia LEP. “Whether it’s a new or niche product or just a young company with a credible investment opportunity, New Anglia Capital could provide the working capital to help launch them into future success.”
The LEP has partnered with Anglia Capital Group, a private investment network based in the new Centrum Building at Norwich Research Park, to help deliver the scheme. Anglia Capital Group is building a network of angel investors from across Norfolk and Suffolk along with a pipeline of suitable investment propositions.
Angel investors and entrepreneurial businesses will come together at regular presentation events organised by Anglia Capital Group, where investors can consider the funding of suitable ventures. Anglia Capital Group is supported by four corporate sponsors, Larking Gowen, Mills & Reeve, NW Brown and Novagraaf.
The Chief Executive of Anglia Capital Group, Struan McDougall, said: "We are delighted to be working closely with the New Anglia LEP to deliver this co-investment opportunity for the two counties: It’s great for young companies needing growth capital and very positive for private investors, knowing that their investment can be matched pound for pound by the Fund. We held our inaugural event in September and are now planning three or four investment presentation events across the region over the next 12 months. We already have a group of 12 founder members and our membership is growing fast”.
The funding is part of New Anglia LEP’s Growing Places Fund, aimed at kick-starting stalled and delayed infrastructure projects. It is hoped the funding will do the same for fledgling, yet viable, businesses who have yet to see their plans come to fruition due to a lack of available finance.