Midlands investor network boss wants to encourage more angels

The new leader of Midlands-based Minerva Business Angels investment network said one of his key goals was to debunk the myth you have to be a multi-millionaire to get involved.

Luke Pulford, who lives in Leicestershire, has been hired to lead the growing network, which started in 1994 and is part of the University of Warwick Science Park.

Run in its current format since 2010, it has supported more than 90 companies raise over £63m and, as well as helping more businesses receive funds, Luke wants to encourage more people to give angel investing a try.

"Even modest amounts of investment can make a huge difference to a young company with a bright idea, and if they succeed, the returns can be enormous," he said.

"It also means investors can put their money into ideas or individuals that they really connect with and make a tangible improvement to that business, rather than just putting in cash."

He added: "For some businesses, having a direct introduction to the contacts who can move their business forward is even more valuable than an injection of cash in the long term."

Luke has extensive experience across the private and public sector in founding, growing and supporting companies, business consultancy and investing.

He was also previously part of the Science Park’s business support service Business Ready.

He said he wanted to collaborate further with bodies such as the British Business Bank, accelerators, universities and wealth management funds to help Minerva grow, both on the business side and the investor side.

Victoria Lynch, head of commercial at the university of Warwick science park, said: "We’re delighted that Luke has been appointed as Head of Minerva Business Angels.

"His extensive background in investing in and advising small businesses, alongside his network of contacts across the Midlands and his knowledge of the Science Park through his work with Business Ready, meant he was the standout choice.

"We are confident he can help Minerva Business Angels build on the incredible success it has had over the last few years."