BoS pitches in with Oxford Angels
The Bank of Scotland’s growth equity team and Oxford Investment Opportunity Network (OION) have launched a £2 million co-investment programme that will provide a new source of funding for innovative companies. OION selects and introduces high growth, innovative technology companies from across the UK to its network of business angels and corporate investors in order to help them raise equity funding.
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The Bank of Scotland's growth equity team typically makes equity investments of between £1m and £7m across a range of sectors. These investments are made directly from the bank’s balance sheet, not from a fund, which gives the bank more flexibility.
Under the terms of the co-investment programme, the bank has made available £2 million to invest during 2008 alongside investor members of OION, and its sister investment networks, Thames Valley Investment Network and Oxford Early Investments. The bank will typically invest from £25,000 to £250,000 per deal, with all investments being made on exactly the same terms as OION’s investor members.
This innovative arrangement provides the bank with an opportunity to invest in high growth companies and to establish relationships with high net worth investors.
Commenting on the deal, Malcolm Kpedekpo, associate director of Bank of Scotland Growth Equity, said, "This exciting deal opens doors for Bank of Scotland Corporate. We now have access to entirely new networks of investors, as well as being able to fund high growth companies. In a country which is built on entrepreneurship, we're determined to play our part in helping the entrepreneurs of today and tomorrow to realise their ambitions and to create jobs and growth."
Don McLaverty, director of Oxford Investment Opportunity Network, added, “We are delighted that Bank of Scotland Corporate has entered into this innovative arrangement with OION. It speaks volumes for the success of our OION network that an institution like the bank is eager to be so deeply involved. We have an extremely solid network of over 100 active angels who have a superb track record of investment, and our co-investment model with the bank, which enables it to act as a ‘super angel investor’ alongside our angels, can only be good news for the innovative companies from across the UK who raise funds through OION.”
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© Chilli Publishing Ltd 2008 |
5 FEB 2008 |
