Government partners with investment platform JustInvesting to help small firms access finance
Site will be official provider for BIS’ ‘GrowthShowcase’ and will match investors to high-growth small and medium businesses
The Department for Business, Innovation and Skills (BIS) has today announced a partnership with online venture investment platform JustInvesting, with the goal to help early-stage businesses secure finance from angel and institutional venture capital (VC) investors.
The partnership will see JustInvesting run BIS’s ‘GrowthShowcase’; a site created by the GrowthAccelerator and Innovate UK, which seeks to match investors to eligible high-growth small and medium firms.
The pilot platform will look to promote investment-ready small and medium businesses to qualified, suitable equity investors looking for market intelligence on new companies.
Other similar government pilots are currently being established in conjunction with the British Business Bank and the UK Business Angels Association.
Founded in 2012, JustInvesting looks to “simplify” venture investment and portfolio management for investors by catering for all investment activities on one platform. To date, the start-up has raised £2.1m funding from leading names such as Andrew Black, co-founder of Betfair, Robin Klein of The Accelerator Group and Index Ventures, and Bob Wigley; former chairman EMEA of Merrill Lynch.
Nigel Walker of Innovate UK (formerly Technology Strategy Board), commented: “Small and innovative businesses play a crucial role in the UK economy, and we absolutely recognise the importance of angel investors in supporting these enterprises.
“GrowthShowcase is just one way in which we are working to support entrepreneurs and the early stage investment community, and we look forward to working with the JustInvesting team, benefiting from their expertise in this space.”
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JustInvesting CEO, Paul McGuire, added:
“This partnership will create greater visibility of the early-stage UK venture market, improving access to follow-on funding for companies and helping to leverage the initial investments made by our GrowthShowcase partners.”