Sir Nigel Rudd to head Angels Association

The organisation, successor to the British Business Angels Association, starts life with more support than its predecessor and plans to extend to cater for a new class of Super Angels, reports The Telegraph.

Sir Nigel and chief executive Jenny Tooth, co-founder and director of Angel Capital, have set their sights on substantially increasing the estimated 18,000 business angels currently investing £1bn a year to start up new businesses and help others to grow.

Incentives are helping their cause with the government increasing the tax breaks under the Enterprise Investment Scheme to 30pc and introducing a new 50pc tax break through the Seed Enterprise Investment scheme.

Sir Nigel said: “I have been an active angel investor for many years and helping to fund and support new ideas and young, ambitious management teams, has provided me with some of my most enjoyable and memorable business experiences.

“And whilst not every investment has worked out exactly as I had hoped over the long term and across a diversified portfolio I have made a good return.”