Business angels carry on investing
Article Date: May 05 2009Members of Oxford Investment Opportunity Network (OION) invested £3.15 million in 15 companies in the past financial year, according to the organisation.
Those investments helped secure an additional £10 million of funding from other sources, including Bank of Scotland, with which OION has been running a co-investment scheme since January 2008.
OION, which helps young technology companies find funding of between £150,000 and £2 million, enjoyed a ‘blockbuster year’ despite the economic downturn, according to director Don McLaverty.
Says McLaverty, ‘It is overwhelmingly clear that business angels have a unique role to play during this recession and are more important than ever during these difficult times.’
The upcoming issue of Business XL magazine takes an in-depth look at how to secure funding from family, friends and business angels. Qualifying company directors can subscribe for free.
