IT might not quite be Dragons’ Den, but some of the Channel Islands’ most high-profile millionaires are inviting Islanders to pitch them their business ideas.
On Tuesday it was revealed that the group – which includes former CI Traders chairman Tom Scott – was offering to use its cash to help fund public capital works in Jersey and Guernsey. Today, it emerges that the businessmen, who have formed a company called Bailwick Investments, are also looking for private schemes to invest in.
And they say that they want to hear from entrepreneurs who have got that one-in-a-million money-making idea. So far, the group has attracted around 105 investors who have put up anywhere between £20,000 and several million pounds. Today, the fund total currently stands at £26.6 million, although the directors say that they are confident that they can raise a lot more.
In addition to Mr Scott, the board consists of his son, Tom Scott Jnr; JT chairman and former CTV chief executive John Henwood; Collins Stewart co-founder in the CI John Ravenscroft; Guernsey Jurat David Lowe; former chief executive of Aggregate Industries (which owns Ronez) Peter Tom; and deputy general manager of insurance firm Assicurazoni Generali Mel Carvill,.
• Picture: Bailiwick Investments: Back row, left to right – Darren Stephens, Peter Tom, Jon Ravenscroft, Tom Scott and Tom Scott Jnr. Front row – David Chan (of Cenkos the finance company managing the fund), David Lowe and Mark Bousfield