Plan for council business support angel syndicate is set to fly

By Ged Henderson

17 Sep 2024

Lancashire County Council County Hall

Plans are progressing to create the first council-led angel investor syndicate network as part of a major overhaul of business finance support in Lancashire.

It includes a new early-stage investment board, which is already up and running, and the relaunch and refocusing of Rosebud, changing its current role as a business loans provider.

The angel syndicate network is being developed to bring investors and Lancashire start-up and early-stage businesses together.

Angel investors are typically high net worth individuals who invest some of their own money into start-ups, typically in exchange for equity.

Amin Vepari, the business finance and scale up lead at Lancashire County Council, says the network will support early-stage operations and to give them access to the funds they need to develop within the county.

He told Lancashire Business View: “We are looking to develop a community of investors and by the end of the year our aim is to
get approval to launch the first council-led angel syndicate network.”

Work is currently underway in County Hall to develop the way the network will operate and to ensure it meets the regulatory framework and the correct governance is in place.

The early-stage investment board brought together by the county council has the remit to look at areas of support and access in Lancashire that need addressing and to act as a strategic platform.

Nikki Whittle, partner and Lancashire head of corporate at law firm Brabners, is a board member.

She said: “The aim is to create a thriving ecosystem where early stage and scale-up businesses know where to go for help and support.

“It is a strategic, joined up approach to growth, bringing the public and private sectors together and attracting money to the area.

“A lot of tech businesses, if they don’t get the investment they need here go to Manchester and Liverpool. This is about making sure Lancashire doesn’t lose out.”

As part of this increased focus on attracting investors, FHundED, the venture capital initiative developed in Lancaster, is currently being rolled out in other parts of the county.

Preston is hosting a series of FHundED events aimed at introducing tech founders to venture capital funding bodies. Events in East Lancashire are set to follow.

The idea is to foster collaboration and investment in tech and digital businesses in Lancashire.

The earlier events in Lancaster have been hailed a success, attracting the attention of growing numbers of potential investors, including major venture capital funds.

Rory Southworth, investment ecosystem manager, said: “FHundED was created to give Lancashire’s ambitious and growth-hungry tech founders a platform where they could meet VCs and institutional investors face to face.

“We are now seeing great momentum in the county across all types of early-stage finance activity, with investors realising Lancashire is
a region they can navigate more easily due to initiatives like this being in place.”

Other changes happening, or in the pipeline, include the county council’s Access to Finance becoming an “impartial finance brokerage service”.

Earlier this year it launched its investment academy to help prepare Lancashire businesses for equity investment.

Mark Gibbons, lead adviser, said: “Since relaunching the Access to Finance service in February as part of Boost, our expert team has
been helping Lancashire businesses find and secure funding through our one-to-one support.

“Equity investment is one of the most difficult forms of funding for businesses to secure but having a deep understanding of your business
finances and funding strategy significantly increases your chances of success.

“Our new academy has been designed to provide businesses with this knowledge by working with the very best experts from across the county.”

Rosebud Finance, which has operated as a business loans provider in the county since 1986, is also getting a makeover and a changed role after being brought in-house by County Hall.

It will move from being a transitional debt fund to “an economic growth enabler” for early-stage businesses, with an equal focus on the debt
and equity markets – putting both on the table as options.

In its current role Rosebud has injected £5.8m into 43 businesses across the region since July 2019.

Amin said: “True growth comes from equity whether angel, venture capital or private equity.

"We want Lancashire to be a place where people want to stay to grow their businesses and to attract new investment.

“Investors are drawn to the big cities; the ecosystems are there. A lot of our focus is being directed at early-stage investment because the
statistics show that is an area where we need to do more.

“The aim of the work we are doing is to create a set of products and services so we can grow Lancashire’s economy.”

Enjoyed this? Read more from Ged Henderson

Latest news

1

Three weekly domestic waste collection considered in plans Waste recycling Blackpool

Three weekly domestic waste collection considered in plans

01 Jul 2025

2

Graham Engineering sold to a2e Industries Graham Engineering

Graham Engineering sold to a2e Industries

01 Jul 2025

3

Training 2000 celebrate 'Good' rating by Ofsted Training 2000

Training 2000 celebrate 'Good' rating by Ofsted

01 Jul 2025

4

Fox Group acquires J Fisher and Sons Colin Fisher, Paul Fox CEO and Gary Fisher.

Fox Group acquires J Fisher and Sons

01 Jul 2025

5

Beever and Struthers strengthen leadership team with new partners Dean Curtis and Joe Diston

Beever and Struthers strengthen leadership team with new partners

01 Jul 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
LBV123 July/August Launch Event
Lancashire Business View magazine launch
Networking
16 Jul 2025

LBV123 July/August Launch Event

Burnley

08:30 - 10:30

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Business Bike Club – July
Chamber Logo1.png.png
LBV Hub Networking
01 Jul 2025 - 01 Jul 2025

Business Bike Club – July

Various, Lancaster, LA

08:00 - 09:30

Chamber Breakfast Networking – July
Chamber Logo1.png.png
LBV Hub Networking
02 Jul 2025 - 02 Jul 2025

Chamber Breakfast Networking – July

St John's Hospice, Slyne Road, Lancaster, LA2 6ST

08:00 - 10:00

The Marketing Metrics that Matter – July 4
LBV Hub Seminars
04 Jul 2025 - 04 Jul 2025

The Marketing Metrics that Matter – July 4

Door4 Office, Burnley Wharf, Burnley, BB11 1JG

08:30 - 11:00

Chamber Summer BBQ
LBV Hub Social
17 Jul 2025 - 17 Jul 2025

Chamber Summer BBQ

The Borough, Dalton Square, Lancaster, LA1 1PP

17:30 - 20:00

Preston Tech Connection: Web3 is Dead. Or is It?
July Longer Banner.jpg.jpg
LBV Hub Networking
29 Jul 2025 - 29 Jul 2025

Preston Tech Connection: Web3 is Dead. Or is It?

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:30

Preston Freelancer Meet-Up: July
Longer July Banner.jpg.jpg
LBV Hub Networking
31 Jul 2025 - 31 Jul 2025

Preston Freelancer Meet-Up: July

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

North West Business Expo 2025
https---cdn.evbuc.com-images-880456273-4862066883-1-original.20241022-105445.jpeg.jpg
LBV Hub Exhibitions
24 Oct 2025 - 24 Oct 2025

North West Business Expo 2025

Bolton Stadium Hotel, Bolton, BL6 6SF

09:00 - 15:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV122 Online Graphic
Subscribe now

Weekly news bulletin