#INVESTHER
Lodestone led a probono campaign #InvestHER to reverse legislation that would have a disproportionate impact on female founders and investors.
Following a six-week campaign, our call – to reverse the income threshold change for angel investors from £100,000 per year to £170,000 - was heard and the Spring Budget 2024 announced a reversal to law. We joined the City Minister at No11 to discuss our campaign and how to unlock finance for female founders the following day.
Lodestone worked with a powerful team of lawyers, investors, and entrepreneurs on a campaign to reverse the legislation.
We collated a private letter to the Chair of the Women and Equalities Select Committee - signed by over 200 high-profile women, highlighting the gender-specific impact of the change. Raising this issue with the Committee led to support from Rt Hon Caroline Nokes MP and Dame Caroline Dinenage MP, Committee member and Chair of Digital, Culture and Media Select Committee. Simultaneously, we utilised our network to raise the changes behind the scenes with No 10 and HM Treasury, asking questions of the Government in Parliament. Our campaign across LinkedIn – utilised AI video from Zeed – to create shareable content.
We launched an open letter to the Chancellor calling on him to reverse the change in the Spring Budget, and quickly gathered signatures from nearly 3,000 women across the UK - including broadcaster Mary Portas and Founder of TALA Grace Beverley. Following the success of the open letter and positive coverage from The Times, Telegraph, Daily Mail, and tech focused outlets, the Chancellor reinstated the previous eligibility criteria for angel investors in the spring 2024 Budget.
Dame Caroline Dinenage MP said, “The success of our important campaign to overturn changes to the investment regulations that disproportionately disadvantage start-ups founded and funded by women, was in large part down to the inspiring female-led team at Lodestone.
"Following a letter to the Women and Equalities Committee, which I sit on, as well as conversations with No 10 and the Treasury, all as part of the behind-the-scenes campaign, the Lodestone team and their wider network brought together over 2500 high-profile women from across business, academia, and politics in an open letter to Chancellor, Jeremy Hunt. Alongside this public call, I was able to raise the issue with the Chancellor personally and gave support on conversations with the Treasury team.
“Coupled with the letter, Lodestone was able to secure the backing of prominent female entrepreneurs and positive coverage across the main newspapers, which all helped to demonstrate the strength of feeling on this issue to the Treasury. On Budget Day we saw the fruits of our efforts as we secured the investment changes that will make it easier for women investors to put their money where they want.”