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First investment for Welsh all-women angel investor syndicate

Investors in this round: Women Angels of Wales (WAW) supported by Development Bank of Wales

Wales’ first all-female angel investor syndicate has marked its first investment into a new business intelligence platform, supported by the Development Bank of Wales.

Women Angels of Wales (WAW) backed Newport-based Talent Intuition and CEO Alison Ettridge with £60,000 into its Stratigens software, a SaaS product which brings together labour market, economics and location data to provide the insight businesses need to shape radically smarter decisions.

Headquartered at Tramshed Tech, the business’ customers include major brands such as BP, EY and Netflix.

The investment was also backed with £20,000 from Matthew Epps – who came into the deal via the Angels Invest Wales network – along with £80,500 from the Development Bank of Wales’ Angel Co-investment Fund, and £50,000 from the Wales Technology Seed Fund – a total investment of £211,000.

Bethan Darwin of Thompson Darwin Ltd acted on behalf of the syndicate.

Founded earlier this year, Women Angels of Wales aims to encourage more women to become investors, and aims to support women in the early-stage investment community in Wales. As a syndicate, its deals have access to the Wales Angel Co-investment Fund. It is join-funded by the Development Bank of Wales and the British Business Bank.

Jill Jones, lead investor at Women Angels of Wales, said: “We were all very pleased to invest in Alison and the Stratigens software – her passion, drive and knowledge were obvious, and it was very easy for all of us in Women Angels of Wales to work with her. She clearly understood the impact and implications of angel investing, and her ambition, foresight and forward-planning provide us a clear route to exit.

“The software addresses a very clear gap in the market, and the fact Alison runs an established business with a good track record gave us strong cause for confidence.”

Alison Ettridge, CEO at Talent Intuition, said: “I’m delighted to have received the backing from Women Angels of Wales. They have varied and extensive experience as business leaders and investors, and getting their support means so much more than just capital investment alone – it’s a mark of confidence and trust from respected businesswomen from across Wales.

“I look forward working with Women Angels of Wales and other backers as we continue to expand and increase our offering to the market.”

Carol Hall, regional manager for Angels Invest Wales, said: “I’d like to congratulate Women Angels of Wales on making what will be the first investment of many, as they continue in their goal to support more female-owned and female-led businesses throughout Wales. It’s especially pleasing to see the syndicate support Talent Intuition, an exciting business which has been in the Development Bank portfolio since 2018.

“This investment is a great example of multiple angels coming together to provide small amounts of capital to help de-risk investment, while bringing together a wide network of support for the company.”

£60k

First investment for Welsh all-women angel investor syndicate

First investment for Welsh all-women angel investor syndicate

By Development Bank Of Wales Development Bank of Wales Profile 15 Aug 2023