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New investment vehicle to support the “missing link” of Prolific North technology

A new investment fund has been launched by GP Bullhound and Bruntwood to help start-up tech companies in Manchester.

Manchester Angels are described as the “crucial missing link” in the city’s tech ecosystem.

“According to Tech Nation’s 2021 report, over £13 billion in investment has been raised for UK tech companies. Yet almost 60% of that funding went to companies based in London and the south,” said Ed Prior, vice chairman of GP Bullhound.

“With the political agenda high, it is essential that we build on working organizations such as the Manchester Tech Trust and leverage the success of local tech entrepreneurs to support the aspirations of the next generation of entrepreneurs in order to attract investment to the region”.

Supporting tech and life sciences companies, it plans to connect start-ups with experienced entrepreneurs, who have “the ability to mentor and the desire to invest”.

“Bruntwood and our partners have invested over £1 billion in creating a thriving city economy in and around Manchester. Supporting Manchester Angels is an important piece of this puzzle to continue the trajectory of the start-up ecosystem,” added Chris Oglesby, Managing Director of Bruntwood.

Applications from a number of technology sectors will be accepted and evaluated based on “their overall potential as opposed to specific eligibility criteria”.

Manchester Angels aims to have an initial founding group of 30 Greater Manchester private investors, who will work with venture capital funds and other institutional investors – including Praetura Ventures, Northern Gritstone and Silicon ecosystem partner Octopus Venture Valley Bank and research partner the University of Manchester Factory of Innovations.

Entrepreneur David Levine will lead his search for companies:

Technation and Google’s May 22 report on a decade of UK tech funding notes that investment in seed and pre-seed companies has fallen as a proportion of overall funding from from a peak of 22% in 2013 to less than 4% in 2022, so far.

“Manchester Angels will address this essential component of the ecosystem by providing start-ups with access to high-quality and experienced technology investors, ensuring the region continues to incubate, support and build the most exciting technology companies in the world. future.”