The British Venture Capital Association has announced a record £25m of business angel investment for the 12 months to June 30 1998.
The 398 registered business angels made 227 investments totalling £24.6m in 223 registered companies.
The majority – 69 per cent – of investments were less than £50,000 with technology the most popular sector.
Scotland, East Anglia, the South-west and the South-east were the business angel 'hot-spots'. The East Midlands showed the most significant growth in business angel activity.