Women Angels Unite to Invest in Women in Wales for Wales

Development Bank of Wales , 17th January 2023

More than 30 of Wales’ most successful female entrepreneurs and business leaders have united to form Women Angels of Wales (WAW), a new business angel investment syndicate for women led by lead investor Jill Jones.

It comes as the latest report by the UK Business Angels Association (UKBAA) suggests that despite female angel investors having helped drive more than £2bn of investment in companies across the UK in the past decade, women remain a minority in angel investment. This shortage of women angels has a direct impact because data shows that women are much more likely to invest in female-founded companies.

Facilitated by the Development Bank of Wales and Angels Invest Wales, WAW has been established to help support women in the early-stage investment community in Wales. As a syndicate, all deals will have access to the Wales Angel Co-investment Fund.

Jill Jones, lead investor; Carol Hall, investment manager with Angels Invest Wales

As lead investor, Jill Jones has a background in optometry and property. She is now an ESRC funded PhD student at Cardiff University Business School, an experienced business angel investor and passionate supporter of women in entrepreneurship. She said:

“Women angels have a critical role to play in supporting female entrepreneurship. WAW is a women-led business angel investment syndicate, working in close partnership with the Development Bank of Wales and the wider business angel community in Wales and beyond. It is a friendly and supportive network which welcomes new and aspiring female investor members across Wales who are committed to supporting the Welsh economy and the creation of Welsh jobs.

“By encouraging more women to become angel investors, we give them the opportunity to support the businesses that matter to them and to create new sources of capital for innovative businesses. We offer a supportive approach to women as investors and to women as founders who often get overlooked and underfunded.

“Importantly, this is not a networking forum. We want to enjoy using our collective experience, skills and resource to make a difference to our environment, our society and our economy by inspiring and investing in female-led businesses. Of course, angel investing does come with some risks but there are some great tax incentives that make it an attractive proposition.”

Jenny Tooth OBE, Executive Chair of the UK Business Angels Association and Co-Chair of the Women Angel Investment Task Force said:

“Angel investment is an important element of equity finance for entrepreneurs at the start of their business growth journey, brining not only vital funding, but also business experience, advice, support and connections. However, the proportion of women angel investors is low and this limits the pool of equity capital available to support entrepreneurial growth.

“Our research and experience has shown that growing the number of women angels will directly increase the level of investment in female entrepreneurs. To address this, we have launched the Women backing Women Campaign across the UK regions and Nations. We need syndicates like WAW to share the benefits of angel investing and help empower more women to bring their finance and experience to proactively back female founders.”

Carol Hall is Investment Manager for Angels Invest Wales. She said:

“We need to encourage more women to invest so building the angel ecosystem in Wales is a priority for us.

“WAW is a syndicate of exceptionally talented and successful women business angels who are ambitious, agile and accessible. We know that angel investment works best when investors work together in syndicates to pool skills, share knowledge and balance risk. It generates more firepower, particularly as we can then use our equity co-investment fund to leverage syndicated deals.”

Members of WAW include:

Ellen Donovan, an experienced non-executive director. She is a board member of the Welsh Government and a former board executive director of a FTSE 250 company.
Kate Methuen-Ley, an experienced non-executive director, committee member and executive director. She spent five years building a JV with well-known retailer in Wales & Bristol to 120 team members and +£5m annual turnover. She exited in 2018.
Sian Lloyd, freelance presenter and broadcaster who has spent the last 25 years presenting news, current affairs and factual programmes both in Wales and across the UK along with work for independent media companies.
Helen Molyneux, successful business woman who set-up and established NewLaw Legal before selling to a PLC. She is a well-regarded non-executive director, a founder of the Monumental Welsh Woman project and a trustee of the Institute of Welsh Affairs.
Jackie Royall, chair, non-executive director, business mentor and investor. Her career began in finance and progressed to CEO and vice president in manufacturing. She has run her own business scaling consultancy and was a turnaround practitioner for 16 years.

The £8 million Wales Angel Co-investment Fund provides Welsh businesses with a key source of alternative finance through the encouragement of more active angel investment. The five year fund supports the creation of angel syndicates and networks across Wales by providing loans and equity up to £250,000 to investors looking for co-investment.

Mae mwy na 30 o fentergarwyr benywaidd mwyaf llwyddiannus Cymru ac arweinwyr busnes wedi uno i ffurfio Angylion Cymru sy’n Ferched (ACM), syndicet buddsoddi angylion busnes newydd i fenywod o dan arweiniad y prif fuddsoddwr Jill Jones.

Awgryma’r adroddiad diweddaraf gan Gymdeithas Angylion Busnes y DU (UKBAA), er gwaethaf y ffaith bod buddsoddwyr sy’n angylion benywaidd wedi helpu i ysgogi mwy na £2bn o fuddsoddiad mewn cwmnïau ledled y DU yn y degawd diwethaf, mae merched yn parhau i fod ymhlith y lleiafrif o ran buddsoddiadau angylion. Mae’r prinder hwn o angylion benywaidd yn cael effaith uniongyrchol oherwydd mae data’n dangos bod merched yn llawer mwy tebygol o fuddsoddi mewn cwmnïau sydd wedi’u sefydlu gan ferched.

Wedi'i hwyluso gan Fanc Datblygu Cymru ac Angylion Buddsoddi Cymru, mae ACM wedi'i sefydlu i helpu i gefnogi merched yn y gymuned fuddsoddi cyfnod cynnar yng Nghymru. Fel syndicet, bydd gan bob bargen fynediad at Gronfa Cyd-fuddsoddi Angylion Cymru.

Fel buddsoddwr arweiniol, mae gan Jill Jones gefndir mewn optometreg ac eiddo. Mae hi bellach yn fyfyrwraig PhD a ariennir gan yr ESRC yn Ysgol Busnes Prifysgol Caerdydd, yn fuddsoddwr angel busnes profiadol ac yn gefnogwr brwd i ferched mewn mentergarwch. Meddai:

“Mae gan ferched sy’n angylion rôl holl bwysig i’w chwarae wrth gefnogi mentergarwch benywaidd. Syndicet buddsoddi angylion busnes a arweinir gan ferched yw AMC, sy’n gweithio mewn partneriaeth agos â Banc Datblygu Cymru a’r gymuned angylion busnes ehangach yng Nghymru a thu hwnt. Mae’n rhwydwaith cyfeillgar a chefnogol sy’n croesawu aelodau newydd a darpar fuddsoddwyr benywaidd ledled Cymru sydd wedi ymrwymo i gefnogi economi Cymru a chreu swyddi Cymreig.

“Drwy annog mwy o ferched i ddod yn fuddsoddwyr angel, rydyn ni’n rhoi’r cyfle iddyn nhw gefnogi’r busnesau sydd o bwys iddyn nhw ac i greu ffynonellau cyfalaf newydd ar gyfer busnesau arloesol. Rydym yn cynnig agwedd gefnogol at fenywod fel buddsoddwyr ac at fenywod fel sylfaenwyr sy’n aml yn cael eu hanwybyddu a’u tanariannu.

“Yn bwysig, nid fforwm rhwydweithio yw hwn. Rydym am fwynhau defnyddio ein profiad, ein sgiliau a’n hadnoddau ar y cyd i wneud gwahaniaeth i’n hamgylchedd, ein cymdeithas a’n heconomi drwy ysbrydoli a buddsoddi mewn busnesau a arweinir gan ferched. Wrth gwrs, mae yna rai risgiau ynghlwm i fuddsoddiadau angylion ond mae rhai cymhellion treth gwych sy’n ei wneud yn gynnig deniadol.”

Dywedodd Jenny Tooth OBE, Cadeirydd Gweithredol Cymdeithas Angylion Busnes y DU a Chyd-Gadeirydd y Tasglu Buddsoddi Angylion i Ferched:

“Mae buddsoddiad angel yn elfen bwysig o gyllid ecwiti i fentergarwyr ar ddechrau eu taith twf busnes, gan ddod nid yn unig yn hanfodol. cyllid, ond hefyd profiad busnes, cyngor, cymorth a chysylltiadau. Fodd bynnag, mae cyfran y buddsoddwyr angylion benywaidd yn isel ac mae hyn yn cyfyngu ar y gronfa o gyfalaf ecwiti sydd ar gael i gefnogi twf mentergarol.

“Mae ein hymchwil a’n profiad wedi dangos y bydd cynyddu nifer yr angylion benywaidd yn cynyddu lefel y buddsoddiad mewn mentergarwch benywaidd yn uniongyrchol. I fynd i’r afael â hyn, rydym wedi lansio’r Ymgyrch Merched yn Cefnogi Menywod ar draws rhanbarthau a Gwledydd y DU. Mae arnom angen syndicetiau fel AMC i rannu buddion buddsoddiadau angylion a helpu i rymuso mwy o ferched i ddod â'u cyllid a'u profiad i gefnogi sylfaenwyr benywaidd yn rhagweithiol."

Carol Hall yw Rheolwr Buddsoddi Angylion Buddsoddi Cymru. Meddai:

“Mae angen i ni annog mwy o fenywod i fuddsoddi felly mae adeiladu’r ecosystem angylion yng Nghymru yn flaenoriaeth i ni.

“Mae AMC yn syndicet o angylion busnes benywaidd hynod dalentog a llwyddiannus sy’n uchelgeisiol, yn ystwyth ac yn hygyrch. Gwyddom fod buddsoddiadau angylion yn gweithio orau pan fydd buddsoddwyr yn cydweithio mewn syndicetiau i gronni sgiliau, rhannu gwybodaeth a chydbwyso risg. Mae’n cynhyrchu mwy o rym dylanwadol, yn enwedig am ein bod wedyn yn gallu defnyddio ein cronfa cyd-fuddsoddi ecwiti i drosoli bargeinion syndicet.”

Mae aelodau AMC yn cynnwys:

Ellen Donovan, cyfarwyddwr anweithredol profiadol. Mae’n aelod o fwrdd Llywodraeth Cymru ac yn gyn-gyfarwyddwr gweithredol bwrdd cwmni FTSE 250.
Kate Methuen-Ley, cyfarwyddwr anweithredol profiadol, aelod pwyllgor a chyfarwyddwr gweithredol. Treuliodd bum mlynedd yn adeiladu JV gyda manwerthwr adnabyddus yng Nghymru a Bryste i dîm o 120 o aelodau â throsiant blynyddol o +£5m. Fe ymadawodd yn 2018.
Sian Lloyd, cyflwynydd a darlledydd llawrydd sydd wedi treulio’r 25 mlynedd diwethaf yn cyflwyno rhaglenni newyddion, materion cyfoes a ffeithiol yng Nghymru a ledled y DU ynghyd â gwaith i gwmnïau cyfryngau annibynnol.
Helen Molyneux, gwraig fusnes lwyddiannus a sefydlodd NewLaw Legal cyn gwerthu i CCC. Mae hi’n gyfarwyddwr anweithredol uchel ei pharch, yn un o sylfaenwyr y prosiect Monumental Welsh Woman ac yn ymddiriedolwr ar y Sefydliad Materion Cymreig.
Jackie Royall, cadeirydd, cyfarwyddwr anweithredol, mentor busnes a buddsoddwr. Dechreuodd ei gyrfa ym myd cyllid ac aeth ymlaen i fod yn Brif Weithredwr ac is-lywydd gweithgynhyrchu. Mae hi wedi rhedeg ei hymgynghoriad graddio busnes ei hun a bu’n ymarferydd trawsnewid am 16 mlynedd.

Mae Cronfa Cyd-fuddsoddi Angylion Cymru, sy’n werth £8 miliwn, yn rhoi ffynhonnell allweddol o gyllid amgen i fusnesau Cymru drwy annog angylion i fuddsoddi’n fwy gweithredol. Mae’r gronfa bum mlynedd yn cefnogi creu syndicetiau a rhwydweithiau angylion ledled Cymru drwy ddarparu benthyciadau ac ecwiti hyd at £250,000 i fuddsoddwyr sy’n chwilio am gyd-fuddsoddiad.