Liquid won because their recent investment was a great example of a strong syndicate of business angels working effectively with a more formal venture fund.
(PRWeb UK) July 24, 2010
The Angel - VC (Venture Capital) Deal of the Year award was open to individual VCs, business angel networks, angel groups/syndicates and individual investors who have successfully structured a deal including both VC and angel investment.
Liquid raised £770,000 worth of investment funding in February by selling an 18% stake to a syndicate of prominent local business angels, with a further 12% being match-funded by the Government’s flagship fund for women-led businesses, The Aspire Fund.
Marketing Director, Lisa Kendrick, who, as one of the founders and owners of the company, attracted the support of The Aspire Fund, said:
“We’re delighted that our efforts and success have been recognised and we’re proud to win such a high-profile award. The fact that we managed to raise such a substantial investment, especially in a recession, is testament to how much the business has grown since starting out 5 years ago.
Our success and position as market-leader shows just how cloud computing and online accounting has grown in the last five years. We’re confident that cloud computing will experience continual growth over the coming years as more businesses make the switch to online software.”
Speaking after collecting the award on behalf of Liquid, Ken Cooper of Capital for Enterprise said:
“Liquid won because their recent investment was a great example of a strong syndicate of business angels working effectively with a more formal venture fund.”
Headline speaker at the event, held at the Lowry Hotel in Manchester, was Julie Meyer, Founder of Entrepreneur Country, CEO of Ariadne Capital and Dragon on BBC's Dragon's Den Online.
Over 200 delegates from the UK, Europe and further afield attended the event, with representatives from business angel investing and early stage venture markets, as well as other professionals who also have a direct interest in the early stage investing market.
The BBAA is the only national trade association dedicated to promoting angel investing and supporting early stage investment in the UK. It works to create an ecosystem to help support the industry through bringing together angel networks, private investors, early stage funds and professional advisors. For more information about the BBAA, visit their website.
For more information about Liquid’s latest awards news, visit the awards section of our blog via the Liquid website.
Notes to Editor:
Liquid Accounts Ltd is an online developer and vendor of accounting software using the Software as a service (SaaS) model. SaaS is a component of the ‘Cloud’ which facilitates the use of third party servers over the internet in a ‘pay-as-you-go’ way. The benefits of SaaS to business being no large capital outlay; no on-site servers or internal IT expertise required; no upgrade/compatibility issues; no backups or security required; no up-front/long term commitments; and no hidden costs.
Pre-investment the Liquid had already gained industry wide acclaim; featuring in the Institute of Chartered Accountants’ Guide to Online Accounting, earning glowing reviews from specialist groups like AccountingWeb, and winning several high profile awards including Best Web-Hosted Accounting Software and runner-up for Best Small Business Accounting Software at the Software Satisfaction Awards. MD, Matt Holmes is a recognised expert in the field of online software and is Chair of the Cloud Computing Special Interest Group for the Software Developers’ Association (BASDA).
For further information about Liquid Accounts or this specific story, please contact:
0845 450 7304
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