Lancashire entrepreneurs launch investment group

Two Lancashire entrepreneurs who recently launched their own venture together have created an investment fund to help other red rose county businesses follow in their footsteps.

The Ditabo Ventures early-stage fund has been created by Conor Walsh and Paul White, who recently launched PATCH and went on to raise £200,000. Paul is also the founder of Modern Milkman.

The fund is also backed by other high-level executives, all born and raised in Lancashire, with a breadth of experience, ranging from corporate finance advisory at Big 4 accountancy firms to roles at the BBC.

Paul explained: “During our own raise, it was clear that there were a lot of people in Lancashire who were interested in investing but didn’t really know where to start. Throughout this process we also found that we were teaching the investors, and public sector agencies, about the huge tax benefits of schemes such as the Seed Enterprise Investment Scheme.

“We were told time and again that we would never be able to raise pre-seed funds, in the current climate, and in Lancashire, and if we were to stand any chance, we’d need to head for a city. We stood firm and built our own investment network.”

Ditabo will only invest in early-stage businesses, based in the Lancashire area, but they won’t need to be investment ready.

Conor said: “We’re in one of the most underinvested areas in the UK and so unsurprisingly, lots of businesses aren’t investment ready, but our experienced team will help to get them there.

“We’ll use our own experience of raising funds, and our contacts, to help others. We did it with no help, but now, there’s a service to help others. Alongside our backers, we have a hugely talented and knowledgeable Investment Committee, with local and international expertise and we’re sure this will bring huge benefits to investors and businesses in Lancashire.”

Paul added: “We’ve worked with people across the county to get this off the ground. We’re incredibly passionate Lancastrians, every one of us, and we’re hoping to change the eco-system for early-stage companies here”.