Four firms are being matched with Business Angels, thanks to a major event held earlier this year.

Weeks of work has been put into making matches between the firms and their Angels and they are on the verge of being made.

The matches are being worked on following the first Yorkshire Business Angels Investor Fair at The Hilton Hotel in Garforth earlier this summer.

Business Angels Network manager Ken Ormerod, who covers West and North Yorkshire and the Humber, said: "To have four Business Angels and businesses having reached this stage following our first investor fair only a few months ago is a great achievement and we are delighted for them.

"We initially set our sights on achieving at least one successful match. We very much hope that these four will now go onto to create full working partnerships. As soon as we can reveal further details of their progress we shall do so."

Attendance at the event was more than 160. There were 26 businesses which exhibited and the investor fair was attended by more than 50 potential investors as well as financial intermediaries representatives.

A satisfaction survey carried out by the Business Angels Network has revealed considerable demand for a second fair to be held this autumn.

Business Angels, often described as informal venture capitalists, are usually experienced business people seeking a new challenge who are able to invest both money and expertise in suitable businesses in return for an equity share. Investments generally range between £10,000 and £250,000, depending upon the opportunity.

It is a method of funding that has become popular among small to medium enterprises (SMEs) because they gain access to business expertise as well as a capital injection.

Senior specialist adviser with Business Link North Yorkshire John Guy said: "Several businesses and potential investors from North Yorkshire took part in the previous fair and we very much hope that even more will attend the next one."