Business Finance Solutions and the British Business Bank has launched Co Angel Investment for the region.
It aims to connect businesses to syndicates of investors in a new way.
The new service will bring together syndicates of business angels and co-investment from the Angel Co Fund British Business Bank to invest between £150k and £4m in each of the successful businesses from the regions which apply.
The Co Angel Investment service is aiming to mobilise £10m of investment into North West businesses in each 12-month period of its operations.
The British Business Bank can invest alongside the funds invested by angel investors, to allow syndicates to complete larger funding rounds and to follow their monies on subsequent rounds to a greater degree. Paul Breen, (pictured) director of Business Finance Solutions, said: “Co Angel Investment is a completely new concept that creates better and lower risk opportunities for angels that supports businesses that are struggling to find funding. We want to build an early stage market with the capacity and impact to match that seen in the US.”