UK angel investors launch new trade body
The UK Business Angels Association has been launched to represent the estimated 18,000 angels in the UK, who invest up to £1bn annually in start-ups and early stage companies.
The launch reflects the growing importance of this source of funding in the current economic climate, the Association said. The new body will replace the British Business Angels Association, which was established in 2004.
Chair of the new trade body will be Nigel Rudd, an angel investor himself and chairman of Business Growth Fund, BAA Limited, and technology company Invensys. He founded Williams plc in 1982, which subsequent to demerger became security and fire safety equipment and services suppliers Chubb and Kidde.
The Association will be taking up new headquarters at Pinners Hall, which is also the base for the British Bankers Association. Angel investing has taken on impetus under the UK’s coalition government, which has increased tax breaks for seed and other early stage investors.