Businessman Mo Chaudry has pledged to give £5 million of his own money to a new venture aiming to help entrepreneurs start or grow their businesses in and around Stoke-on-Trent.
The former Waterworld owner has launched MOmentum Capital, which will invest up to £250,000 per company into businesses at all stages across Stoke-on-Trent, Staffordshire and the Midlands.
The fund is expected to help create jobs, support the next generation of entrepreneurs and help ensure the long-term economic prosperity of the area.
Shortlisted businesses will be invited to pitch to Mo and his team in a Dragons’ Den-style process. Each successful company will also be matched with experienced mentors provided by Staffordshire Chambers of Commerce.
The initiative expects to support around 20 companies in the first five years, with an average of 10 jobs per business. And with reinvestment of capital over a 25-year period, it could support 6,000 jobs.
Mo said: “I want this fund to help create jobs, and build aspirations, and prove you don’t have to leave Stoke-on-Trent to succeed in business.”
Mo moved to the UK from Pakistan aged eight and unable to speak a word of English. He started his working life in insurance canvassing and went on to make his first £1 million before the age of 30.
He now runs a portfolio of businesses across the property and health and fitness sectors and his net worth in 2025 exceeded £170 million.
His children expected to become part of the core investment team in the future.
Mo, who believes decades of underinvestment and limited access to funding have held Stoke-on-Trent back, said: “Few people realise the Waterworld site was part of Wedgwood’s original factory land, and building my career there has been hugely symbolic for me. The success of Waterworld has been the catalyst for this fund. I want it to help create the next Josiah Wedgwood of our time.”
He added: “Every year, organisations like the Chamber provide brilliant advice and business planning support, but too many start-ups stall at the same point. What they need is capital and support.
“Banks remain reluctant to provide further funding, rarely back early-stage businesses, and many venture funds are slow, bureaucratic, and London-centric. This scheme won’t be like that. Through it, I can personally give back to society, help generate employment, and as its success perpetuates over time, support long-term economic prosperity.”
Tom Nadin, the Chamber’s Deputy Chief Executive, said: “MOmentum Capital is exactly the kind of bold, place-based initiative that Staffordshire needs. It’s a unique project that aligns strongly with the Chamber’s mission to support ambitious entrepreneurs with not just advice, but real opportunity.
“This fund removes a long-standing barrier to growth and shows what’s possible when local business leaders invest directly in their communities. We’re really looking forward to working closely with Mo and seeing the impact this project will have on local entrepreneurs and organisations.”
Applications are open now until 30th March via this link.
