Anthony Clarke Chair of BBAA and CEO of Angel Capital Group - Celebrating Angel Investing at No 10 Downing Street

Online, February 13, 2012 (Newswire.com) - Angel investment was recognised as the most important source of capital for start-up and early stage businesses at a major event led by the Prime Minister held at No 10 Downing St on 10th February 2012 attended by over 100 representatives of the angel community around the UK, and notably from the British Business Angels Association ( BBAA) together with other main players in the SME finance market place.

The event which was hosted by Lord Young, opened with a key note speech from David Cameron who emphasised the important role that angels play in response to the current economic challenges, by bringing their much needed finance to entrepreneurs both to start up and grow, as well as their vital business experience and mentoring skills.

Anthony Clarke, Chair of BBAA and CEO of Angel Capital Group and London Business Angels who spoke at the event said:
"UK Angel investing is estimated by BBAA to be £800m per annum which is approximately twice the sum invested annually by seed start up and early stage venture capital funds in the UK with approximately 15,000 angel investors operating in the current UK market. We are delighted that the Government is supporting the further growth and expansion of the angel investing in the UK through the new Seed Enterprise Investment Scheme (SEIS) which, some may argue, is a bold move by Treasury, to reverse the shortage of supply of seed investment in the UK and will undoubtedly attract essential new Angel money into the seed stage. The new £50m Angel Co Fund will also act as an important new incentive to leverage significant new capital from angel syndicates.

The challenge remains on how we can double or even treble the numbers of UK angel investors in order to significantly grow the start up and early stage investment to increase the awareness of individuals to become angel investors to invest in innovative high growth potential entrepreneur. There is also a need to ensure that entrepreneurs have much better understanding of how to access angel investment and how to make the most of all of the sources of finance available to them to meet their needs. Notably, I am pleased to confirm that BBAA has recently concluded a new strategic partnership with the British Bankers' Association and also the Business Growth Fund. We will also be working more closely with our ongoing sponsors, Lloyds Banking Group and NESTA and building on our existing links with BVCA. These new strengthened alliances will allow BBAA to grow its role and services as a trade body in line with the expanding and developing UK angel market".