Mentor Capital opens for business

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Mentor Capital, a newly created business angel investor group, was launched this week to provide capital and support to small businesses in the UK. The group envisages that it will begin investing around the end of August, providing funding packages in the Â£100,000 to Â£750,000 range. Chairman Michael Land is heading the initiative, which has brought together seven Leeds businessmen including Brian Milburn, former trading director of Asda Stores, and Lord Charles Spencer Churchill, a non-executive director of a number of companies including DMA. Land is a serial entrepreneur whose latest venture, Leeds-based Debt Management Associates, was recently sold to CCP Holdings on an earn-out of up to Â£13.1m. The team will target businesses that fall below the size threshold for venture capital firms, backing development strategies and buyout situations. Mentor Capital will target companies with strong management teams and growth potential across a range of industries including financial services, retail, manufacturing and software. The group will accelerate its investee companies to the next stage in their development, potentially providing investment opportunities for venture capital players at the smaller end of the market.