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Women-only wealth management firm Addidi will launch an all female investment club which will invest in British start-up ventures.

Anna Sofat, founder of Addidi, said that the essence of this philosophy lies at the heart of Addidi Angels and will be core to the launch of Addidi Business Angels.

She added the idea is simple and will see it provide a structured, informed vehicle through which Addidi members, and women in general, can become business angels.

She said: “Addidi is women- focused with female only members, the investment club was a natural outcome. Various types of women can come to us – anyone who needs all round service and is willing to pay our fees.”

Gill Cardy, IFA for Bristol-based Nicholls Stevens, said she did not think that there was need for a female-only investment club.

She said: “If you are going to do something because it is an affinity group, which is what women are, then am I going to support it because I want to help women or am I doing it to make money?

“If I want to support women in business – there are other ways to do it; if I want to make money I will go to places that make money. I do not think historically doing it because you are part of the club is not necessarily the best way to do it.

“From a marketing point of view it is neat, but it is not that much different. Clients should look at the same principles such as: is it a good investment? Is it successful? Who is managing it and on what basis?

“I do not want my money invested in a company just because it is run by women. If I want to invest my money to get a return I want to go to the best place where it is likely to get a return. If I really wanted to invest my money to support women I would invest in a fund run by one of the female asset managers.

“Someone’s gender is not a rational basis to make a decision about where to put your money. You can invest in affinity groups, but do it because they need the support not because it is a fantastic investment.”