The network, which focuses on focused on UK regional scale-up companies, closed its largest investment at the start of the lockdown with a £1.7m funding round for One Utility Bill. It has since seen an enhanced flow of new enquiries from quality businesses and has a strong pipeline of new investments.
DSW Angels will also have the capacity to make larger investments following the decision by one of its funding partners – British Business Investments – to increase its rate of funding. British Business Investments, which announced a £10m commitment to be invested alongside the DSW Angels network in September 2019, will now commit up to 50% for each investment.
DSW Angels has led a total of £4m of venture capital investment into regional scale-up businesses in the last two years.
David Smith, a founding partner of DSW Angels said: “We have seen no reduction in either the flow of new scale-up opportunities or enthusiasm from our investors which is reinforced by the renewed support from British Business Investments. We intend DSW Angels to be a major player in supporting high-growth businesses as the country recovers from the lock-down.”
