‘Manchester Angels’ is an investment network made up of Investment bank GP Bullhound and property company Bruntwood, which has its sights set on investing in Manchester’s technology and life sciences.
The plan for the network is to incorporate start-ups in the region with entrepreneurs who will mentor them, ultimately investing in different sectors as time goes on.
Ed Prior, vice president, GP Bullhound has said, “According to Tech Nation’s 2021 Report, over £13bn in investment was raised for UK technology businesses. Yet nearly 60% of that funding went to businesses based in London and the South,”
Manchester Angels focus on the northern city is strong and already, the investment group is pursuing 30 Greater Manchester private technology investors with hopes of partnerships. Some of these include industry partner Praetura Ventures, Northern Gritstone, Octopus Ventures, Silicon Valley Bank and The University of Manchester’s Innovation Factory.
Praetura specifically understands the importance of investing within Manchester’s life science start-ups as recently, it launched it’s £20 million fund to invest in the sectors of Greater Manchester, Cheshire, and Warrington.
Bruntwood’s Chief Executive, Chris Oglesby has commented on the venture, “Bruntwood and our partners have invested over £1bninto creating a thriving city economy in Manchester and surrounding areas. Supporting Manchester Angels is an important piece of that puzzle to continue the start-up ecosystem’s trajectory.”
Only last month, Bruntwood’s SciTech division acquired Glasgow’s Met Tower, which previously belonged to Osborne & Co prior to the purchase. Buying this has allowed the company to convert it into a new Glasgow hub for tech and digital business. With recent developments, it may be Manchester which receives a new digital hub soon.
This news has positively affected the area as it provides stability and the option to employ local members in the coming months.
It is essential to realise the importance of the property development sector and the positive impact it can spread throughout city communities. Due to the large amount of money that can be made through property investment and development, it allows developers to give back to surrounding areas.
Ethically motivated property developers ensure that communities will benefit from the sector through investment and regeneration projects that will uplift the provide a better quality of life. This can be through investment in sciences and local businesses, or through bettering the quality of affordable accommodation in the area.