New angel network to invest thousands in Northern tech sector

A new business angel network has launched with the aim of boosting the Northern tech sector.

Dow Schofield Watts Angels will match early-stage businesses with experienced entrepreneurs who can offer mentoring, support and investment.

The network, set up by Warrington-headquartered business advisory group Dow Schofield Watts, is initially planning to invest up to £500k in each company.

A number of established entrepreneurs in the North have already come out in support of Dow Schofield Watts Angels, including Bill Ainscough of housebuilder Wainhomes, Richard Law of Chester-based data firm GB Group, Peter Mansfield of credit solutions provider Call Credit and Anthony Molloy of telecoms company Daisy Group.

The network will be headed up by David Smith, who formerly managed the North West Fund for Digital & Creative and now leads Dow Schofield Watts’ technology team.

David said: “The North has no equivalent of the successful angel groups in Edinburgh or Cambridge and, with the venture capital industry largely focused on London, there is a funding gap for early-stage tech companies in the North.

“However we do have plenty of successful entrepreneurs, some of whom have been through the entire growth cycle of building and selling a business, and are willing to invest time and money in helping others.”

He added: “Dow Schofield Watts Angels will bring together entrepreneurs with fledgling businesses in need of funding and support. We aim to build a strong angel network that will be instrumental in driving the growth of the North’s technology sector.”

Membership is open to both new and existing angel investors, with no commitment or fees required.

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