A new investment network has been launched to support early-stage technology and life sciences businesses in Manchester.
Manchester Angels has been founded by global technology investment bank GP Bullhound and commercial property specialists Bruntwood.
They hope the network will provide a crucial missing link in the city region’s tech ecosystem by connecting the best of Manchester’s startup community with experienced entrepreneurs who have the ability to mentor and the desire to invest.
Applications will be accepted from multiple technology sectors and assessed on their overall potential as opposed to specific eligibility criteria, ensuring opportunities across a wide range of backgrounds are considered.
Aiming to have an initial founding group of 30 Greater Manchester-based technology private investors, the group will work closely with venture capital funds and other institutional investors with a shared vision for the North West.
These include investor partners such as Praetura Ventures, Northern Gritstone and Octopus Ventures, ecosystem partner Silicon Valley Bank and research partner The University of Manchester Innovation Factory.
“According to Tech Nation’s 2021 Report, over £13bn in investment was raised for UK technology businesses. Yet nearly 60% of that funding went to businesses based in London and the South,” said GP Bullhound VP Ed Prior.
“With levelling-up high on the political agenda, it is essential we build on the work organisations such as the Manchester Tech Trust have done and leverage the success local tech entrepreneurs have had to support the aspirations of the next generation of entrepreneur to attract investment to the region”.
Chris Oglesby, CEO of Bruntwood, commented: “Bruntwood and our partners have invested over £1bn into creating a thriving city economy in Manchester and surrounding areas.
“Supporting Manchester Angels is an important piece of that puzzle to continue the startup ecosystem’s trajectory.”
Manchester Angels has appointed serial technology entrepreneur David Levine to head up the network’s efforts in identifying high-potential businesses seeking early-stage funding and matching them with the right angels.
Interested angels and startups can see more detailed information on www.manangels.co.uk and apply directly on the website.