Why Rachel Hannan believes angel investing is a force for good in a changing world

The study, which was conducted in conjunction with NatWest and Beauhurst, found that only 14 per cent of angels are women.

She added: “Of the total number of business angels (36,800) there are only 157 women, compared with 2,225 men, nationally who have invested in 10 plus companies, so women ‘serial investors’ like me make up less than half a per cent of the business angel population.”

Ms Hannan is a non executive director, business angel and adviser who was previously the co-founder of GatenbySanderson, a business which played a leading role in finding hundreds of candidates for top level roles in the private and public sectors.

Her latest investment is in Tunley Engineering, a Yorkshire company which aims to accelerate decarbonisation globally. It reflects her belief that angel investing is a force for good.

However, she remains dismayed by the fact that more women aren’t following in her footsteps.

She said: “There is no question that not enough investment is going to female-run businesses. Women tend to invest more in women, but we still don’t have enough women investors.

“And the belief that women can have it all has become a stick to beat us with, so if you’re not successfully combining a stellar career or running a successful business with having a family and a myriad of other interests or hobbies, somehow you’ve failed.

“Yes, we are more able than ever to have it all, but that should be a choice for us, not an obligation and you haven’t failed if you choose, or end up doing, one of these things really well."

Long term relationships are at the heart of everything she does. She had been working with Tunley Engineering, which is soon to be rebranded to Tunley Environmental, for about two years as an adviser and initially had no intention of investing in the business. However, her plans changed after she got to know the business well.

She said: "There are three things I look for in a company; purpose, potential and people. Tunley ticked all those boxes. I am attracted to businesses that have a purpose beyond getting bigger.

"Tunley is on a mission to accelerate decarbonisation globally, which was reflected in a contract it has been awarded by the Port of Detroit.”

The Detroit/Wayne County Port Authority is undergoing a major decarbonisation project, which aims to reduce the port’s environmental impact, and improve sustainability. The decarbonisation project will be undertaken in partnership with Tunley Engineering and Southwest Detroit Environmental Vision (SDEV), and will include the use of renewable energy sources and the electrification of port equipment.

Ms Hannan said: "The team (Tunley) are all massively committed to what they do. It is made up of PHD level scientists and other experts who specialise in AI. Their potential to grow in the environmental sustainability space is massive.

"They have the potential to create lot of jobs and they are constantly innovating.”

She described the company’s CEO Dr William Beer as “a typical entrepreneur with boundless passion and ideas and he's also a real grafter”.

Enthusiasm counts for nothing without a strong work ethic, according to Ms Hannan.

She added: "It's not just about having ideas, it's about delivering something with substance which has enabled us to punch above our weight. The more complex the problem the better. They love to push boundaries.”

Over the last decade, she has invested in firms which planned to expand, even when economic growth seemed to be in short supply.

She added: "When I first started as an angel investor in 2011, we had just been through the crash and the financial sector was very loathe to lend money.

"There was even talk of a triple dip recession. What excited me was creating opportunities for growth. I have always been attracted to companies that could translate a vision into something of value. Initially I invested as part of a syndicate which supported a raft of businesses.

"I saw angel investors plugging a gap that was needed at the time. With companies like Real World Group, (a company which provides leadership diagnostic tools) which I invested in seven years ago, I was always going to be there for the long term. For me it is all about relationships. I go on a journey with the company and get involved emotionally as well.”

Ms Hannan added: "Selling may have become a bit of a dirty word for some people, but you must believe in what your company stands for, especially if what you're selling can solve a problem for them.

"You might be selling something that people didn't realise they needed. None of us knew we needed an I-phone until it came along.

"When GatenbySanderson was set up in 2002, the market was dominated by a small number of quite large players. We knew it was important to focus on the public sector, because public sector leadership roles really matter. They affect the lives of millions of people. We innovated by using technology to help clients access a wider pool of candidates. I have come to realise how much the private and public sectors can learn from each other. We need to move away from the simplistic 'public sector good' 'private sector bad' dichotomy. It’s outdated. A lot of people in the private sector care about making the world a better place."