A new investment group, Ditabo Ventures, has launched today with the specific aim of funding early-stage businesses based in the Lancashire area and a promise of enriching the region.
The group is being spearheaded by former Young Lancastrian of the Year and Modern Milkman Founder, Paul White, along with his business partner and the winner of the Lancashire Innovation Challenge, Conor Walsh. The group is also backed by other high-level executives, all born and raised in Lancashire, with a breadth of experience, ranging from corporate finance advisory at Big 4 accountancy firms to roles at the BBC.
The pair heading the group recently completed their own £200,000+ raise for their new tech company, Patch.
Paul explained, “During our own raise, it was clear that there were a lot of people in Lancashire who were interested in investing but didn’t really know where to start. Throughout this process we also found that we were teaching the investors, and public sector agencies, about the huge tax benefits of schemes such as the Seed Enterprise Investment Scheme.”
“We were told time and again that we would never be able to raise pre-seed funds, in the current climate, and in Lancashire, and if we were to stand any chance, we’d need to head for a city. We stood firm and built our own investment network.”
Ditabo will only invest in early-stage businesses, based in the Lancashire area, but they won’t need to be investment ready, as Conor explains; “We’re in one of the most underinvested areas in the UK and so unsurprisingly, lots of businesses aren’t investment ready, but our experienced team will help to get them there”.
“We’ll use our own experience of raising funds, and our contacts, to help others. We did it with no help, but now, there’s a service to help others. Alongside our backers, we have a hugely talented and knowledgeable Investment Committee, with local and international expertise and we’re sure this will bring huge benefits to investors and businesses in Lancashire.”
Paul added “We’ve worked with people across the county to get this off the ground. We’re incredibly passionate Lancastrians, every one of us, and we’re hoping to change the eco-system for early-stage companies here”.
The group is hoping to attract predominantly Lancashire-based investors too. Potential investors and businesses seeking funding can sign up from today at www.ditaboventures.com, where investors will see the latest deals and founders can start their fundraising journey.
