The company was established in 1920 and operated out of the Tydu Works in Rogerstone.
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The company, which was established in 1901, is expected to be wound up over the next three months.
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The company, which was established in 1999, has not yet broken even.
The company, which was established in 1901, was hit by a series of thefts in 2012 which Mr Woollons said had prompted his decision to close.
Managing Director Jamie Andrews said securing investment via an equity stake was the only way his young company could raise funds, and whilst the risk for the business angels was higher than taking a stake in an established company, the rewards for all could be huge.
Among other extraordinary women in the room, there was a first generation entrepreneur as well as a woman who established the first cable company in India.
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He said the company, which has a base in Scotland and was established 38 years ago, had immediately accepted full responsibility and did not seek to "pass the buck".
Riddell established the company in 1927, but it was not until 1939 that its first soft plastic-shell football helmet was released to the public.
Under U.S. law, a company is a tax resident of the country in which it was established.
However, Stuart Miles, editor of gadget review site Pocket-lint, said while there was potential for success in developing countries, the company faced an uphill struggle against the established big players.
Even before it was formally established earlier this year, the nearby Central Salford Urban Regeneration Company had commissioned Mr Fuksas in Rome to draw up a regeneration framework, due to be presented later this month.
When the company did make a decision, it was to compete in a crowded market against better-funded competitors with bigger established user bases.
Before the change in methodology used to determine fair value, the typical portfolio company valuation was equal to the value established by investors at the time of the most recent investment.
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