Scale-up angel network targets £10m investment
UK scale-up angel network DSW Angels is planning £10m of new investment over the next 12 months to help support the post-COVID recovery.
Its previous investments include event booking site Poptop UK, Warrington software firm Avanite, and Manchester-based eCommerce platform Shopblocks.
The networkclosed its largest investment at the start of the lockdown with a £1.7m funding round for North East Tech 50 finalists One Utility Bill.
The investor said it had since seen an enhanced flow of new enquiries from quality businesses and has a strong pipeline of new investments.
It will also have the capacity to make larger investments following the decision by British Business Investments, one of its funding partners, to increase its rate of funding.
British Business Investments, which announced a £10m commitment to be invested alongside the DSW Angels network in September 2019, will now commit up to 50% for each investment.
DSW Angels has led a total of £4m of venture capital investment into regional scale-up businesses in the last two years.
David Smith, a founding partner of DSW Angels said: “We have seen no reduction in either the flow of new scale-up opportunities or enthusiasm from our investors which is reinforced by the renewed support from British Business Investments. We intend DSW Angels to be a major player in supporting high-growth businesses as the country recovers from the lock-down."