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
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.
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:
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”.
- Creo Medical
- 4th Aspect
- OR Productivity
- Future Drinks Co
- Albert Medical Devices
- IMSPEX Diagnostics