A private investor network for young companies in Northern Ireland has been unveiled.

Envestors is designed to introduce new companies needing growth and expansion capital with private investors who wish to invest more than £20,000 in unquoted businesses under the Enterprise Investment Scheme.

Envestors, which was set up in 2004, joined the AIM-quoted Braveheart Investment Group last year.

A spokeswoman for Envestors said it was now looking for dynamic Northern Ireland companies which could offer high growth returns to investors.

Applications can be made at www.envestors.co.uk. The top six entries will then be invited to meet Envestors for a free workshop in Belfast.

One of the six will then benefit from the Envestors corporate finance preparatory and advisory service to create an investment proposal. That proposal will then be pitched to 50 potential high net-worth investors at the Merchant Hotel on October 11.

Envestors co-founder, Scott Haughton, said: "We are a team of like-minded individuals who have all been involved in either owning or investing in high growth businesses. Our expertise lies in determining how best to present a company to investors to give it the best chance of raising capital."

He added: "We are delighted to be launching in Northern Ireland and believe that there's incredible potential here."