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Backers link up to place
financing
(Filed:
09/02/2004)
Three small-company organisations have agreed
to work together to provide growth businesses with access to
finance.
They are Ofex, which trades securities in
unlisted companies; AngelBourse, which combines an equity
fund-raising arm with a share-trading facility; and the
National Business Angels Network, the umbrella organisation
for individual groups of sophisticated investors and their
advisers. Their joint venture is called Single Pathway to
Market.
By using standard documents, signing up to a
code of conduct and by integrating their services, the three
hope the initiative will overcome the "fragmented and
inefficient" route from start-up to the stock market now
experienced by growth companies.
The move follows the recent launch of two other
services targeting growth companies. One, called CMR, brings
companies and private investors together and only charges a
success fee. Launched in November, it has already vetted 300
companies.
Another, called DCX, is a private company
newswire that aims to connect innovative, growing companies
with entrepreneurial investors and corporate venturers.
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