I have been a business angel for more than 20 years, and in that time one thing has been constant: angel investing has remained a very male-dominated activity.
Traditionally, it has been older, often retired, men investing in male-led teams. The voices and perspectives of female investors have largely been absent from the conversation, and female founders have often been left without the support that early-stage investors can bring.
That imbalance is why Women Angels of Wales was established. We wanted to change the face of investment in Wales, creating a space where women could invest in the businesses that matter to them – and do so as part of a supportive community rather than on their own.
We are Wales’ first female-focused business angel group, but we welcome men who share our vision and want to invest alongside us. Our focus is on backing companies with a woman in a senior or influential role, and also on building a syndicate of investors who want to see more diverse leadership in business.
Angel investors provide more than just capital. We bring skills, access to networks, and a willingness to be patient. When angels invest, they aremaking a long-term commitment to work alongside founders as they grow. That is why who you invest with can be just as important as who you invest in. A strong team of trusted individuals around the table can make a huge difference to both the experience and the outcomes for the business.
Being part of a syndicate like ours means you are not just working with the founders of exciting start-ups – you are also collaborating with a diverse group of investors from different sectors, backgrounds and age groups. We share insights, challenge ideas, and provide a wide range of experience for founders to draw upon. There is no such thing as a ‘perfect’ angel investor, just as there is no single model for an entrepreneur. The diversity within our group is one of our strengths.
Our portfolio approach is designed to help manage the inherent risks of angel investing. Members can spread smaller amounts of money across a range of businesses, which is particularly important for those who are new to this type of investment. Many women who join us have enjoyed success in their own careers but may be unfamiliar with angel investing. That is why we place such emphasis on education, with training sessions, opportunities to learn from experienced members, and a buddy system for those starting out.
We are also a voluntary group, which means everyone involved is committed to our mission. New members are encouraged to get involved as much as they wish, whether that is attending our monthly online meetings to discuss deals, joining one of our pitch events, or helping to screen potential investee companies. While we started in South East Wales, we now hold events across the country so that more women can become part of the network.
The need for this focus on female-led ventures is clear. Funding remains one of the most significant challenges facing women entrepreneurs, particularly at the start-up and early growth stages. Business angels play a critical role in providing the risk capital that can help bridge the gap before other forms of funding become available. If women are not part of that picture – either as investors or as founders – then businesses miss out on valuable perspectives, and opportunities are lost.
Female founders often bring different ideas and spot different gaps in the market. They might identify unmet needs that others have overlooked, leading to products and services that better reflect the society we live in. Having female investors involved means those ideas are more likely to be understood, valued and supported. It is not about excluding men – we invite male investors to join our deals – but about making sure women’s voices are heard and their businesses have the chance to succeed.
When Women Angels of Wales began, there was just one active female investor within Angels Invest Wales. Today, our wider network includes 57 members, with 26 fully signed-up and active investors. That growth in just a few years shows what can happen when women are given the opportunity, the tools and the confidence to take part in early-stage investment.
Angel investing is ultimately about people – investors and founders working together with a shared commitment to building successful businesses. For me, supporting women in business is not just about addressing an imbalance; it is about making sure that the businesses shaping the future of Wales reflect the talent, creativity and ambition of all its people.
If you are a founder looking for investment, or someone interested in becoming an angel, we would be delighted to hear from you. We are a friendly and welcoming group, and we are committed to making a difference for women-led businesses across Wales.
Jill talks about this and more in The Women Angels of Wales Investment Series podcast episodes Becoming an Angel, and Investing in Women. Listen to the podcast here.
