£100 million Angel CoFund, funded by British Business Bank, goes national
The Angel CoFund, which brings together businesses and entrepreneurs along with government and private sector investment extended across UK.
To date the fund has only been available to businesses in certain areas due to being funded from the Regional Growth Fund; but from today firms throughout the UK will be eligible for support.
George Whitehead, non-Executive Chairman of the Angel CoFund, said:
“The Angel CoFund works towards simple and sensible principles: we want to support and improve angel investing in the UK; and we want to get cash to good companies that can use the money to really scale their businesses. We are the most active fund in the country and the largest of its type in the world, and we are delighted to be able to support entrepreneurs across the UK in this way.”
Since its launch in November 2011, the fund has supported 27 companies, providing £10 million in direct investment alongside £40 million from business angels. The fund is now able to accelerate its activities to meet the increasing demand from UK companies for this type of long term equity support, with an additional investment of £50 million in the 2013 Budget as part of the government’s Business Bank programme.