Investment fund launched for early-stage businesses

An investment fund has launched designed to support early-stage businesses in Nottinghamshire and Derbyshire.

The Early Stage Angel Investment Fund (ESAIF) was developed by the D2N2 Local Enterprise Partnership ahead of it becoming part of the East Midlands Combined County Authority earlier this year.

The fund, which has been launched at events in Derby and Nottingham, aims to stimulate investment and growth in early stage’ companies – those that have been trading between six and 24 months.

D2N2 LEP/EMCCA are contributing £4 million to the fund, match-funded by ESAIF fund manager Haatch. Over the longer-term these funds will be re-invested in the programme.

Claire Ward, mayor of the East Midlands, said: “Supporting our local economy is one of my priorities as mayor of the East Midlands and I’m delighted we’ve been able to launch the Early Stage Angel Investment Fund.

“I look forward to hearing all about the impact of this fund, how it supports our local businesses, and how it will help our regional economy thrive.

“I’m keen to see what we can achieve together through this significant investment and strong collaborative partnership.”