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Press releases — 22 April 2005

Oxford Business Angels Network celebrates success

Oxfordshire Investment Opportunity Network (OION) is celebrating another successful year of raising crucial development finance for innovative companies. Over 150 guests at the Network's Annual Dinner heard Chairman, Colin Alexander, announce results showing that OION helped 13 companies raise £2.5 million in the year to March 2005. The superb results mean that OION retains its position as Europe's most successful technology business angel network that links investors with entrepreneurs seeking funds from £150,000 to £2m. During the last four years, OION has helped 61 companies raise £14.8m.

Mr Alexander said:

“OION was one of the first technology business angel networks to be set up in the UK and we are delighted that it remains the European leader. OION brokers deals for early stage technology companies across the UK, helping them raise finance to develop their businesses to the stage where they can attract the attention of venture capitalists. And we have just seen a perfect example of this with Hardide, a company that secured investment through OION in 2000 and 2003, and has recently floated on AIM at a post money valuation of £12 million.”

OION is managed by Oxford Innovation, the UK's leading operator of innovation centres, which manages 12 centres housing over 300 companies.

Dr David Kingham, Chief Executive of Oxford Innovation, said:

“OION continues to exceed expectations. I would like to congratulate OION's manager, Jon Cox, on a very successful first year running the Network, and thank our sponsors for their support.

In fact, OION has become so successful at raising larger amounts that we have launched a complimentary network (Oxford Early Investments) to focus on very early stage companies seeking finance of up to £150,000. Oxford Early Investments has got off to a great start and is already closing deals. We hope that it will grow to be as successful as OION.”

Guests at the Annual Dinner, including business angels, serial entrepreneurs and venture capitalists, also enjoyed hearing Guest Speaker, Dr Jan Hruska, co-founder and joint chief executive of Sophos plc, a world-leader in anti-virus and anti-spam software, describe the challenges of growing and financing Sophos from an innovative technology start-up into a global company employing 1,000 people, with offices in Oxford, the USA, Australia, France, Germany, Italy, Japan and Singapore.

Press Release Ends

NOTES FOR EDITORS

Press enquiries to: Margaret Henry, OION PR Manager.
Tel: +44 (0)1865 811199  E-mail: Margaret Henry

  1. Oxford Investment Opportunities Network (OION) www.oion.co.uk

    Oxfordshire Investment Opportunity Network is Europe’s most successful technology business angel network that links investors with entrepreneurs seeking business development funds from £150,000 to £2m. OION holds monthly meetings where selected companies can pitch their proposals to OION's members, which include over 130 active business angels, VCTs and venture capitalists.

    Many of these companies are university spin-outs and OION is uniquely positioned to help them. OION holds regular joint presentation meetings, and has strong links with, universities with a reputation for spinning out quality technology companies such as, Warwick, Oxford, Bristol, University College London and Imperial College London.

    OION is managed by Oxford Innovation Ltd (www.oxin.co.uk), the UK’s leading operator of innovation centre premises for start-up companies, and sponsored by HSBC, Grant Thornton, Laytons, Frank B Dehn & Co, NESTA and Business Link.

  2. Oxford Early Investments

    Press enquiries to: Alastair Cavanagh, Manager.
    Tel: +44 (0)1865 811120 Email: a.canavagh@oxin.co.uk
    Website: www.oxei.co.uk