At another jam-packed Investor Club meeting this month, no fewer than five new business opportunities were presented to business angels, together with an update on an old favourite returning for another round of funding, and a keynote presentation on successful exits.
As ever, the companies presenting were from a broad range of industry sectors, of varying stages of development and representing all areas of the North West, including Lancashire, Merseyside and Cumbria. Over 30 private investors were in attendance, including 5 new members, and a number of 'serial' investors who have successfully backed TEChINVEST companies in the past.
This month's investment opportunities included:
-An electronic services provider, which specialises in the design, development, qualification and manufacture of bespoke solutions, looking for £150,000 to fund expansion.
-A medical products manufacturer, with patents valued at £500m, seeking £180,000 to bring 2 of its products to market and fund further medical trials.
-A successful e-learning service provider, looking for second round funding of around £240,000 to fund the acceleration of sales and extension of the core curriculum-based range.
-An internet-based travel company, which has successfully generated £10m in sales and now requires an additional £300,000 to capitalise on market opportunities.
-An environmentally-friendly paper manufacturer, which has developed and trialled new technology enabling it to transform straw and its attendant waste products in to paper, looking for £825.000 to build an industrial scale plant.
-An innovative seed-mat technology producer - which has already received funding of almost £1m over the last 4 years from both angels and one of the region's venture capital fund - seeking an additional £230,000 in interim funding.
Prior to these company presentations, Simon Cleaver from YFM Private Equity spoke to the assembled guests about successful exits and how to achieve them. Simon was previously North West Regional Manager for the London Stock Exchange and has worked for 3i, Charterhouse and Bank of Scotland.
Commenting on the success of the event, TEChINVEST founder and manager, Vivienne Upcott-Gill, said: "This was an excellent meeting, with a broad range of opportunities put before Investor Club members and an interesting presentation from Simon on how to structure their eventual exits from deals.
"We are always interested in hearing feedback on the progress made by companies or entrepreneurs who have presented at earlier meetings and it is encouraging to see many return to the service when looking at the next round of funding. As you can see, in practice the 'Dragons' in our 'Den' are far more friendly and approachable than their TV counterparts - and we would urge more companies to consider equity finance as a means of delivering serious business growth."
TEChINVEST is one of the UK's longest-established business angel networks. Since becoming part of the North West Regional Development Agency (NWDA) in 2000, the service also acts as a gateway to the broader raft of business finance options available through the Agency, including Rising Stars Growth Fund, North West Business Investment Scheme, North West Equity Fund and North West Seed Fund.
For further information on the service, please visit the website www.techinvest.org or for details of the NWDA's portfolio of business finance options, www.nwda.co.uk
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