Angel CoFund

The £100m government-backed fund has invested in over 50 companies to date including Gousto and YPlan, making it Britain’s most active UK angel fund

Fund name: Angel CoFund
Investor category: Angel investment
Based in: Sheffield
Website: www.angelcofund.co.uk

Description:

Launched in November 2011 with a £50m Regional Growth Fund grant, the Angel CoFund is backed by the government’s British Business Bank and invests alongside angel syndicates.

Investment criteria:

The Angel CoFund looks to invest in promising small and medium-sized British businesses with the potential for fast growth from most sectors. It makes initial investments of between £100,000 to £1m but to secure finance from the fund you must first provide evidence of strong interest from a business angel syndicate or network as it does not accept direct approaches from individual businesses. It will provide up to 49% of the capital required in investment rounds ranging from £200,000 and investees must have fewer than 250 employees and turnover of less than £43m. To date, the fund has invested in excess of £24m in over 50 businesses to date.

Size of fund:

£100m

Portfolio company:

In December of last year, the Angel CoFund marked its 50th investment when it participated in a £786,000 round in personalised mobile phone start-up OwnFone. Launched in 2013, OwnFone is a credit-card sized mobile phone created via 3D printing which is designed for seniors, children or as an emergency back-up phone. The fund’s investment director Tim Mills said the company was the “perfect example of businesses it likes to back”.

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