Government has now received State aid approval from the EC to make changes to the EIS and VCT scheme

31 May 2012

BBAA is pleased to learn that the UK Government has now received State aid approval from the European Commission to make the following changes to the Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) scheme:

Five companies recieve funding within the last six weeks from Central England Business Angels

29 May 2012

Within the last six weeks Central England Business Angels has invested over £1M of Angel Private Equity into 5 companies. The investee companies included Digital Gaming, two manufacturing opportunities, a product distribution into the major retailers, and a University spin-out. Of these, the University Spin-out was an SEIS investment, the others qualified under EIS.

Central England Business Angels: The first to gain investment from the social impact Co-Investment Fund

29 May 2012

Central England Business Angels is pleased to have introduced the first investment to the Social Impact Co-Investment Fund. It was fortuitous that we were working with Nu Drive, a company producing a new design for wheel chair leveraged propulsion, at the point when FSE approached us with the Social Impact Fund. We immediately saw a match between the social impact of Nu Drive and the need for additional money while preserving equity.

MBM Commercial advise on 5 Angel deals since the end of March

29 May 2012

MBM Commercial have advised on 5 Angel deals since the end of March. See below for details:

Make Business Your Business – supporting the start-up and development of small business

29 May 2012

Monday 28th May saw the launch of Lord Young’s report and guide on small business start-ups and enterprise. Lord Young’s report can be accessed:

Glopho’s £150k round cornerstoned by a £100k SEIS structured investment from an LBA syndicate

28 May 2012

Seed stage London based crowd-sourced photo sharing service, Glopho, has closed a £150k SEIS structured funding round which was corner stoned by a £100k investment by a syndicate of 4 LBA angels. The company has developed an internet based free-to-use website for people to upload their news photos and is supported by purpose-built smartphone apps across iOS, Android and Blackberry.

Yorkshire Business Angels instrumental in CamStent funding round success

24 May 2012

Medical materials company, CamStent Ltd, has successfully completed a second funding round and Yorkshire Association of Business Angels (YABA) members have played a crucial role in its success.

Following on from the £350,000 raised in the first funding round in July 2011, CamStent aimed to raise a further £400,000 to progress the application of its patented polymer coatings which resist the growth of bacteria in medical devices. The funding round was oversubscribed and closed when applications reached £508,000.

Minerva run their first webcast investment presentation for Genesis Technical Systems

22 May 2012

Minerva Business Angel Network part of The University of Warwick Science Park were delighted to successfully run their first web cast Investment presentation for Genesis Technical Systems to Minerva’s large database of members and other existing investors in Genesis TS.  

Pure Global Receives £100,000 Loan from the Social Impact Co-Investment Fund

16 May 2012

Pure Global Ltd, a Hertfordshire-based social enterprise that have produced the world’s first lever-drive propulsion accessory for manual wheelchairs ‘NuDrive’, have received financing from the Social Impact Co-Investment Fund managed by The FSE Group and lead partner Resonance.

CamStent’s £500k funding round cornerstoned by £114k investment

9 May 2012

Early Stage Cambridge based polymer coatings specialist CamStent has successfully closed an oversubscribed £400k funding round, closing with subscriptions in excess of £500k. The round was cornerstoned by a £114k investment by new and existing LBA shareholders, including an £18k follow on investment by the LBA EIS Roundtable Syndicate Fund 2011. Investor funds have been supplemented by a £250k non-dilutive grant from the Technology Strategy Board.