Brits “run the best businesses”
UK firms promoted as new investment opportunities revealed
The UK is a more dynamic hub for start-up investment than the USA – in particular for new investors in technology, according to top angel investor Stefan Glaenzer.
Glaenzer, co-founder of White Bear Yard and new Passion Capital fund, was speaking at the British Business Angels Association’s (BBAA) National Investment Summit, which was attended by over 200 representatives of the early stage investment community.
At the event, Professor Rob Wiltbank released his research on how US ‘super angels’ choose their investments; the ability to “read” entrepreneurs and make swift decisions were identified as key.
Guests also heard details of two new equity funding initiatives designed to aid the growth of small and medium sized businesses. A £50m angel co-investment fund is being administered by Capital for Enterprise from autumn 2011, aimed at leveraging investment from angel syndicates.
Similarly, John Watson of Lloyds Banking Group presented a new £2.5bn Business Growth Fund, which will offer investments between £2-10m in businesses with a turnover in excess of £10m. Anthony Clarke, chair of BBAA, said: “We are in a very positive climate right now with a government that is supporting angel investing in the UK.”
Stefan Glaenzer added: “We need to stop worrying about what is going on in the US. All the best businesses are run by UK and Europeans.”
“We are more flexible, giving us competitive advantage – take the fantastic growth of Groupon for example. We have excellent opportunities here for investment.”