‘Early stage’ businesses based in Nottinghamshire and Derbyshire can now pitch to access new funding to support growth.
The Early Stage Angel Investment Fund (ESAIF) was developed by the D2N2 Local Enterprise Partnership (D2N2 LEP) ahead of it becoming part of the East Midlands Combined County Authority (EMCCA) earlier this year.
The Fund, which has been launched at events in Derby and Nottingham, aims to stimulate investment and growth in ‘early stage’ companies – those that have been trading between six and 24 months.
D2N2 LEP/EMCCA are contributing £4 million to the fund, match-funded by ESAIF fund manager, Haatch. Over the longer term these funds will be re-invested in the programme, to catalyse investment and growth for more early-stage companies.
The Derby launch event, held at Derby Arena, featured a video keynote address by Claire Ward, Mayor of the East Midlands, and presentations by D2N2 LEP Deputy Chair and EMCCA’s business representative David Williams MBE DL, Lewis Stringer of British Business Bank, Samantha Deakin of the University of Derby and Fred Soneya of ESAIF fund manager Haatch.
The Nottingham event, held at BioCity, featured a video keynote address by Claire Ward, Mayor of the East Midlands, and presentations by D2N2 LEP board member Glenn Crocker, Lewis Stringer of British Business Bank, Sarah King of Obu and Fred Soneya of ESAIF fund manager Haatch.
The events were MC’d by EMCCA’s Nicola Swaney and attended by more than 100 delegates over the two days.
Claire Ward, Mayor of the East Midlands, said: “Supporting our local economy is one of my priorities as Mayor of the East Midlands and I’m delighted we’ve been able to launch the Early Stage Angel Investment Fund.
“I look forward to hearing all about the impact of this fund, how it supports our local businesses, and how it will help our regional economy thrive. I’m keen to see what we can achieve together through this significant investment and strong collaborative partnership.”
The Early Stage Angel Investment Fund was announced by D2N2 LEP Chair Elizabeth Fagan at the UK’s Real Estate Investment and Infrastructure Forum (UKREiiF) in Leeds earlier this year.
