Angel CoFund

The Angel CoFund is a government-backed investment fund in the United Kingdom.

History and operations

The Angel CoFund was established in 2011[1] by a consortium of business angel groups and received a £50 million grant from the Regional Growth Fund.[2] The fund was set up in order to increase the quantity and quality of angel investing in England.[3]

It invests into small and medium-sized enterprises with high growth potential throughout the UK, alongside syndicates of business angels.[4] By July 2013 the fund had made 32 investments, making it the UK's most active angel investment fund by number of deals.[5]

In June 2013 the Angel CoFund was shortlisted for the Best New Entrant award at the UK Business Angels Association Awards.[6]

The fund was initially supported by Capital for Enterprise Limited (CfEL) a private limited company wholly owned by the Department for Business, Innovation and Skills.[7] On 1 October 2013, CfEL became part of the British Business Bank, which took over the management of CfEL's funds, including the Angel CoFund. Following the establishment of the bank, Minister of State for Business and Enterprise, Michael Fallon, announced an additional £50m for the fund.[1]

Notable deals

The company's notable deals include Playjam,[2] YPlan,[8] Ventive,[9] Koji Drinks,[10] and Nonlinear Dynamics.[11]

References

  1. ↑ 1.0 1.1 Angel News, 03 July 2013 £100 Million Fund to Support Business Growth Goes National
  2. ↑ 2.0 2.1 The Next Web, 08 May 2012 Five English businesses cash in as Angel CoFund invests more than $11 million in first round
  3. ↑ UK Business Angels Association, 13 September 2013 Initiatives to Attract Angel Investment
  4. ↑ Business Wales, 16 July 2013 £100 million fund to support business growth goes national
  5. ↑ FT.com, 03 July 2013 UK doubles fund to back angel investments
  6. ↑ UK Business Angels Association, 25 June 2013 UKBAA Announce the 2013 Angel Investment Awards Shortlist
  7. ↑ Capital for Enterprise 13, September 2013 Business Angel Co-investment Fund
  8. ↑ Tech City News, 05 July 2013 £100M High-Growth Angel CoFund Expands Nationally
  9. ↑ Growth Business Shell Springboard winner Ventive closes first investment round with help from Angel Co-fund
  10. ↑ This Is Money, 23 December 2012 'We found the finance we needed': How Angel CoFund offers heaven sent funding for high-growth firms
  11. ↑ TechCrunch, 06 September 2013 Now UK Nationwide, The £100M Angel CoFund Is Able To Super-Charge Angel Syndicates

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