An £8m fund launched by Angels Invest Wales to extend angel investment activity through enhanced syndicates.
Portfolio
6
companies
Coincover
Coincover provides digital asset protection and recovery services for cryptocurrency holders.
Drone Evolution
Drone Evolution provides specialised tethered drone services and training.
Health & Her
Health & Her develops digital platforms and products to help women manage menopause symptoms.
Jenny Kate
Jenny Kate creates luxury British homeware items inspired by nature.
Rescape Innovation
Virtual reality technology for patient rehabilitation and pain relief.
Riversimple
Riversimple manufactures sustainable hydrogen cars for efficient transport.
The funding round includes backing from Angels Invest Wales, a business angel syndicate, and the Development Bank of Wales.
"I’ve been aware of Riversimple for some time, and it feels like the stars are aligning for this forward-thinking company."
The funding round was backed by the Development Bank of Wales, an angel syndicate, and the Wales Angel Co-investment Fund.
"Menopause can be life-changing for so many. By empowering women to consider body, mind and lifestyle –and giving them the tools to improve their experience – we hope to really change millions of women’s lives for the better."
The seven-figure equity round was led by Insurtech Gateway with backing from the Development Bank of Wales.
"Coincover helps crypto businesses to address the security concerns of the cautious investor and delivers the trust mark they need to stand out in a crowded and wary market. We are the only company in the world with a security product that is backed by Lloyds of London, providing protection from cryptocurrency theft at the individual level and an opportunity to maximise business revenue by enabling our partners to build systems that creates strong trust with their clients."
The funding round was backed by the Inspire Wales consortium, Angels Invest Wales, and the Wales Angel Co-investment Fund.
"It was a really inspiring event, and I was struck by the knowledge of the Inspire Wales investors and their willingness to back entrepreneurs in Wales with both investment and expertise. I approached Caroline Thompson, BeTheSpark CEO, and asked for an introduction. She “encouraged” me to introduce myself which I did, and that started a world-wind funding journey for Jenny Kate. I pitched to the Inspire Wales Investment Committee the week after and they agreed to fund me. Four of their group (Hayley Parsons, Ashley Cooper, Richard Calvert and Roger Gambarini) all agreed to personally fund in addition. I am so thrilled to be supported by the Inspire Wales Consortium, by the Angels Invest Wales and the Wales Angel Co-investment Fund, and by some of the most experienced Angel Investors in Wales alongside increasing corporate banking support from Santander. I am so privileged to have recruited a fantastic initial team working in the business, and to have such an amazing wider stakeholder group. We have huge plans and see a real gap in the market for our fresh nature-inspired British brand."
The funding round was led by Andrew Diplock alongside the Development Bank of Wales.
"The future is exciting for Rescape and with the new funding, the business will be able to make the right investment at the right time with innovative technology in the developing healthcare sector. I was pleased to be able to introduce this South Wales based business to a group of leading and experienced businesspeople– they all agreed to back the exciting future development of this company. I focus my investment activity on high growth potential South Wales-based businesses. Rescape Innovation certainly fits the bill and I look forward to working with the management team in the years to come."
