Government-backed Angel CoFund celebrates first anniversary having helped British businesses access £24 million of funding
The Angel CoFund this month celebrates its first anniversary, following a hugely successful year which saw the Government’s Regional Growth Fund money invested alongside business angel syndicates to provide £24 million in funding to high-growth British businesses.
In the last 12 months 18 innovative and entrepreneurial companies, across a wide range of sectors and regions, have received funding and mentoring from the Angel CoFund and associated angel syndicates. These investments, alongside a number of others which are close to completion, make it one of the most active funds in the UK.
The Angel CoFund is unique in the way it operates alongside entrepreneurs and angel investors, providing much needed additional finance to support and build British businesses with strong growth potential. Benefiting from the knowledge and expertise of highly experienced individuals, who are also investing their own capital, the Angel CoFund is working to spear-head the rise of this alternative funding model.
George Whitehead, non-executive Chairman of the Angel CoFund, said of the anniversary: “The past year has been a hugely successful one for the Angel CoFund. Our funding has helped leverage a total of £24 million into 18 exciting businesses in a strong cross-section of different nationwide markets, from medical research, through to food and drink. This is a phenomenal number of investments for one fund and makes the Angel CoFund one of the most active in the country.
What has become clear to us is that there are undoubtedly a large number of angel investors operating in the UK, who are becoming increasingly sophisticated in their investment techniques. The Angel CoFund network is successfully supporting these passionate and experienced angel investors in building and driving innovative business.”
Michael Fallon MP, Minister of State for Business and Enterprise, said of the Angel CoFund: “Through the Angel CoFund the Government is stimulating business angel investment to provide vitally important financial support to entrepreneurial businesses. This is a positive start, and I hope to see the Angel CoFund creating long-term jobs in growing markets through further investments in the future.”