London Business Angels Invest £1m into six high growth tech companies in the last week of the tax year 12/13

London Business Angels (LBA) angels invested £1m in the first week of April 2013 into 6 potentially high growth SMEs alongside other co-investment of circa £4.5m. The £1m of LBA investment included £200k of co – investment by LBA’s in house EIS and SEIS Funds. LBA has now closed 10 angel deals in Q1 2013.

The 6 deals completed being-  a £178k investment into Norfolk based trunk mains monitoring specialist Syrinx (http://www.syrinix.com/) as part of a £2m plus round; a £146k SEIS investment into Liverpool based Nasogastric Feeding Tube specialist, Westco Medical Holdings (http://www.westcomedical.com/); a £157k investment into London based digital imaging marketplace specialist Glopho (http://www.glopho.com/) as part of a £300k round; a £350k follow on investment in Hertfordshire based LED lighting specialist Isotera (www.isotera.com) as part of a £1.6m round; a £150k SEIS investment into London based e-commerce digital platform Style on Screen (http://styleonscreen.tv/) and a £40k investment into a Cheshire based flow reactor specialist AM Technology(http://www.amtechuk.com/)

Anthony Clarke, London Business Angels CEO, comments, “The recent level of investor activity within the LBA community – closing circa £1m of investment in the last week of the tax year shows our angels appetite for SEIS/EIS eligible investments with the potential for explosive growth. LBA has introduced experienced lead angels into a number of these deals whose skill and expertise will likely help to drive their future growth. These lead angels have been fundamental in drawing in more passive sources of funding such as our LBA EIS/SEIS funds and the £100m Angel Cofund where LBA is a  syndicate partner with six co- investment deals closed to date. LBA now looks forward to hearing from other potentially high growth technology companies seeking angel capital as it has funds available in both its SEIS and EIS funds for the next 12 months.”