Par Equity launches new business angel syndicate
Scotland's business angel investment community has been bolstered by the creation of a new investment group. The Par Syndicate will invest in early stage opportunities and has already begun to examine potential investments.
The group becomes the 19th Scottish angel syndicate to become part of the LINC network. It was created as an angel investment arm of Par Equity, a new business aiming to provide financial and intellectual capital to small, innovative companies with big prospects.
The Par Syndicate has secured partner status with the Scottish Co-investment Fund, which will enable them to leverage additional public money to support Scottish companies with high-growth potential.
The Par Syndicate is comprised of members of Par's advisory panel as well as third party investors. Led by Professor Simon Best, the panel includes a number of award-winning entrepreneurs who will be deployed to help portfolio companies through the often difficult early stages of growth. As well as offering potential investment to emerging SMEs, members will also offer experience, insights and contacts to enable business growth.
Commenting on the launch of the Par Syndicate, Paul Munn, managing partner of Par Equity, said: "We feel that the Par Syndicate will gives us additional flexibility when investing in new or fast-growth companies. While our Equity Fund will offer higher level investment to firms across the EU, our angel investment arm is focused on smaller levels of investment for SMEs with strong growth potential. We have already had discussions with a number of companies and expect to announce our first investment in early 2009."
David Grahame, Director of LINC Scotland, said: "Angel investment continues to thrive in this challenging economic climate with record levels of business angel activity in Scotland over the course of 2008. We welcome the creation of the Par Syndicate whose advisers' combined experience will undoubtedly be a huge asset to a number of high growth potential companies in Scotland."