NorthInvest is unveiled as one of the leading players in the investment ecosystem in the North of England with 14 deals supported, according to Beauhurst data.
The investment organisation and angel network enters the final quarter with 14 completed deals in 2020 so far, raising £2m through the NorthInvest angel network, and facilitating £8m in total equity investment rounds for tech and digital start-ups based in the North of England.
Most recently, 4 private investors from the NorthInvest angel network contributed a six figure investment to Newcastle-based green energy start-up, Power Roll. The start-up successfully raised £2.8m in seed investment following business support from NorthInvest and North East-based partners, the Innovation SuperNetwork.
Power Roll’s successful raise heralds an increase in co-investment across the investment ecosystem. The round, led by Maven Capital, involved several notable Northern VCs and angel groups, including Acceleris Capital, Green Angel Syndicate, and Greenwood Way Capital.
NorthInvest’s increased investment activity despite the disruption caused by COVID-19 echoes the success of GC Angels, Greater Manchester Combined Authority’s instrument to address the early stage market gap in Greater Manchester, who invested £4.8m in 11 companies this year, according to Beauhurst.
Founding Board Director of NorthInvest, Helen Oldham, said:
“We’re very proud of the work our team has achieved this year in supporting a record number of deals for Northern start-ups. Operating in a virtual environment has brought the investor community together as never before and enabled increased efficiencies in the investment process, which are evidenced in the flurry of investor activity in recent months.”