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16 April 2024 | Firm News | Article by Siôn Tudur

Hugh James advises syndicate of business angels and Wales Angel Co-Investment Fund on latest investment

Our Corporate Commercial team has advised a syndicate of 11 business angels and Wales Angel Co-Investment Fund on its latest investment.

The syndicate and Wales Angel Co-Investment Fund have jointly invested £520,000 in Prosper, an investment and pension provider, enabling it to establish a back office at Capital Quarter in Cardiff.

The syndicate, led by Simon Bell, the founder of fintech and insurtech angel group Rebel Syndicates, invested £270,000 and this was match funded with £250,000 from the Wales Angel Co-investment Fund.

Partner Sion Tudur who led the deal said:

“We were delighted to work with the investment angels and Wales Angel Co-Investment Fund to secure this investment.  It is great to see companies invest in expanding their business in Wales.  We’re pleased that we could ensure an outcome that is mutually beneficial for all parties involved and look forward to further collaboration in the future.”

Simon Bell, lead investor said:

“The legal team on the Prosper investment from Hugh James, led by Siôn Tudor, are expert at coordinating all of the moving parts in getting an Angel syndicate deal over the line – great support, advice and guidance throughout.”

The £8 million Wales Angel Co-investment Fund is a passive fund which aims to encourage more active angel investment. Managed by the Development Bank of Wales, the five year co-investment fund participates in syndicated investment rounds by co-investing loans and equity up to £250,000 alongside angel syndicates and a lead investor. Angel Invest Wales actively co-ordinates this activity on behalf of the Development Bank of Wales.

Author bio

Siôn Tudur


Siôn Tudur has a wealth of experience advising businesses of various sizes, from start-ups to PLCs as well as charities and the public sector. He enjoys corporate transactional work and has in-depth knowledge and expertise in a range of corporate matters, from mergers and acquisitions to management buy-outs and equity investments.

Disclaimer: The information on the Hugh James website is for general information only and reflects the position at the date of publication. It does not constitute legal advice and should not be treated as such. If you would like to ensure the commentary reflects current legislation, case law or best practice, please contact the blog author.


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