Investment network on diversity drive to help encourage business growth
A Midlands-based angel investment network is beginning its journey to expand its membership and boost the diversity of both its investors and the entrepreneurs seeking funding.
The Minerva Business Angels investment network – part of the University of Warwick Science Park – brought new investors and business founders together as part of the UK Business Angel Association’s (UKBAA) ‘Embracing Diversity’ series of talks around the country.
Minerva’s members are a mix of private investors with experience in a broad range of businesses looking to put their money into high-growth, Midlands based companies, with a key focus on matchmaking the right angel with the right start-up.
Current Minerva members, as well as those looking to try angel investing for the first time, met growing start-ups in need of investment at the packed-out event, held at Radcliffe Warwick Conferences.
Luke Pulford, head of Minerva, introduced the event by speaking around the benefits being in the network and investing in start-ups can bring, such as tax breaks and potentially high return on investment, before Imelda Fossu, head of Programmes at UKBAA, went through the statistics around the diversity of the angel investment market.
She explained that start-ups founded by women, minority ethnic or neurodiverse individuals present incredible opportunities for investors that are often missed.
Imelda added: “Less than two per cent of all UK venture capital goes towards all-female teams, with minority ethnic founders receiving even less.
“Not only does this mean these founders have to work much harder for investment, it also represents a missed opportunity for investors.
“Because so many of these kinds of businesses are overlooked by investors as things stand, the growth potential and market reach can be much higher for angel investors who can get in early, while also providing significant social impact too.”
A series of pitches were then held by start-ups in sectors such as food and drink, fitness, training, and automotive all vying to be matched with an angel investor, before further networking over lunch took place.
Minerva is the Midlands lead on the UKBAA’s Embracing Diversity scheme, and is encouraging a diverse mix of new investors to join the network and ensure better investment decisions can be made thanks to a greater range of skills and expertise.
Luke added: “Bringing in a wide mix of experienced and new investors from all backgrounds looking for their first business to partner with, as well as start-ups from all sorts of sectors, made for a highly insightful event.
“Hearing about the stark statistics around the lack of investment in female or BAME-led start-ups – and the opportunities that presents for investors – was very interesting, and it certainly raised a few eyebrows in the room.
“This is the kind of knowledge that Minerva shares with its members, whether they have been investing for years, or are just starting to build their portfolio.
“As we celebrate our 30th anniversary this year, we’d love to see even more angel investors from all backgrounds get on board, get matched with exciting start-ups across the Midlands, and achieve incredible success together.”
Anyone wishing to find out more about Minerva should visit the website or can email Luke Pulford at luke.pulford@uwsp.co.uk.
Pictured (L-R): Eugene Patterson – Revibed Drinks, Elena Boos – Visionary Farms, Tracey Sherratt – BBB, Imelda Fossu – UKBAA, Kerry Linley – Rubitek, Satyan Fakey – Suit Zero, Yiannis Moas – Suit Zero, Sonia Hands – Claritas Tax, Luke Pulford – Minerva Business Angels
