New angel investors out to invest in UK digital start-ups

by Jennifer Whitehead, revolutionmagazine.com 12-Nov-09, 15:50

LONDON - Defying the economic gloom, a new investment network founded by former staff from the likes of Google, DoubleClick and Yahoo! is on the hunt for digital media start-ups in which to invest.

Wider Wake aims not only to provide cash to fledgling businesses but also will also act as an 'angel investment network', providing knowledge, experience and connections.

The fund is led by Paul Olliver, previously a senior executive at digital firms Klipmart, Yahoo! and DoubleClick. He is joined by Jeannie Gammon, who was previously head of media platforms at Google UK and managing director of DoubleClick.

Other founders are: Chris Young, chairman and chief executive of Digital Broadcasting Group; Joe Apprendi, chief executive of Collective; Thomas Falk, chief executive of Smart Clip; and James Aitken, founder of MediaBrokers.

Olliver said: "From first hand experience we understand that financing is only half of the equation, and consequently the companies we invest in will be able to leverage the significant expertise and reach of the founder members themselves, and the wider group as a whole. Therefore, for business owners our approach is incubational, but not smothering."

No investments have been announced yet but Wider Wake said it expected to have made its first investment before the end of the year. It expects to make between four and six investments each year, up to $1 million per investment.