Yorkshire angels call in Braveheart to boost deals

SCOTTISH business angels are expected to help boost the flow of deals south of the Border after one of Braveheart’s subsidiaries signed a deal to run the Yorkshire Association of Business Angels (Yaba).

The Perth-based investment group said that its Envestors arm has taken over the operation of the association, which puts early-stage companies in touch with investors prepared to pump up to up to £300,000 into businesses.

Scott Haughton, a director of London-based Envestors, said: “Yaba has been adapting its business model to develop its longer-term sustainability.

“Envestors is ideally placed to power the growth and sophistication of Yaba with increased deal flow and syndication opportunities for its members alongside Envestors’ extensive private investor network.”

Recent deals in which Yaba has been involved include injecting £46,000 into medical device-maker Cipher Surgical, £300,000 into mobile phone app developer MobiCart and an undisclosed sum into ResusPod, which provides emergency equipment to help dentists try to revive dying patients.

Braveheart is also merging its two Yorkshire-based subsidiaries, Neon Capital Partners and Viking Fund Managers. A Braveheart spokesman said no jobs would be lost.

Geoffrey Thomson, chief executive at Braveheart, said: “In the 12 months since the group acquired Neon, we have invested in a good team to deliver Neon’s fund management operations in Yorkshire and it was a natural decision to bring together our two Yorkshire fund managers.

“Viking Fund Managers has a proud history of supporting businesses in Yorkshire and is the brand that we have chosen to continue to operate under.”