CHELTENHAM BUILDING SUPPLIES BUSINESS SOLD TO DORSET BUILDERS’ MERCHANTS

An angel investment group –which is part of the University of Warwick Science Park – hit a record for the amount of cash injected into businesses in 2020 despite the Covid crisis.

Minerva Business Angels, which now has investment groups across the Midlands and on Merseyside, pumped £1.4 million into start-up, spin-out and scale-up businesses over the past 12 months. Companies invested in include Alvant, Expandly, Kubos Semi Conductors, Sparks EV and Natter.

More than £24 million has now been invested and used to leverage around £75 million angel investing since it first grew out of the University of Warwick Science Park Ltd in 1994, with 129 companies being supported –putting Minerva at the top of the UK’s Angel networks.

But Alex Toft, who has overseen the expansion of the Minerva network since becoming head of the group in 2017, says it is vital that the regions close the gap on London when it comes to angel investment and that local investors get involved.

“In 2020, we hit the £1.4 million mark, but I think that would have exceeded more than £2 million had it not been for Covid. We’ve had more than 320 applications and had 70 pitches from businesses looking for angel investment funding. We are also developing new partnerships and a new Super Start-Up Club to provide a structure to work with and develop spin-outs from universities.”