New online venture capital initiative announced

SMEs will be able to get help securing finance from angel and venture capital investors online.

Online venture investment company, JustInvesting will run the Department of Business, Innovation and Skills's GrowthShowcase, a website created by Innovate UK and Growth Accelerator.

The GrowthShowcase platform will match high quality, investment-ready SMEs to suitable investors.

The website will simplify venture investment and portfolio-management for investors by bringing all investment activities onto a single platform. Businesses and entrepreneurs looking to raise finance will be able to build strong relationships with potential investors.

The project is also being developed with the British Business Bank and UK Business Angels Association.

Paul McGuire, chief executive of JustInvesting, said:

"This partnership will create greater visibility of the early-stage UK venture market, improving access to follow-on funding for companies and helping to leverage the initial investments made by our GrowthShowcase partners."

Nigel Walker, from Innovate UK, said:

"Small and innovative businesses play a crucial role in the UK economy, and we absolutely recognise the importance of angel investors in supporting these enterprises. GrowthShowcase is just one way in which we are working to support entrepreneurs and the early stage investment community, and we look forward to working with the JustInvesting team, benefiting from their expertise in this space."

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