CEO steps aide
Investing Women Angels launches fund with SNIB
Investing Women Angels (IWA) has announced a collaboration with the Scottish National Investment Bank to will launch an IW AccelerateHER Fund for female-founded companies.
IWA founder Jackie Waring, who is stepping down as CEO, will lead the steering group to develop the IW AccelerateHER Fund while continuing as an active angel investor.
Evelyn Simpson, an IWA director and former investment banker, will take over as managing director of the organisation’s angel group and will also join the team in building the new fund.
Ms Waring said: “This is an incredibly exciting time for Investing Women Angels with the new IW AccelerateHER Fund marking a major step forward in the level of support we can provide for female founders in Scotland.
“The new fund will aim to move the dial to a higher setting to increase access and opportunities for female-led businesses, driving wider economic growth.”
Eilidh Mactaggart, chief executive of the Scottish National Investment Bank said the fund complemented the Bank’s missions and its mandate to further equality, diversity and inclusion in the Scottish economy.
Since their first investment in 2015 in TC Biopharm, IWA members have invested more than £2.1m in 22 companies with more than 90% of funds going to female-founded businesses.
The group’s sister company AccelerateHER has also been supporting female founders since 2015, connecting entrepreneurs with business angels and helping them prepare for investment, scale and internationalisation.
Many hundreds of female founders have benefitted from ‘door opening’ connections and profile raising from IWA mentors, UK wide awards, education programmes and multiple international market building missions.