£100 million business funding scheme now open to all high growth potential companies

The Angel CoFund, which provides investment capital for businesses with the potential for rapid growth, can now be tapped by companies from all over the UK.

Previously, only high-growth businesses in specific geographical areas of the UK were eligible for funding through the CoFund. However, a £50 million finance boost from the government’s Business Bank initiative sees the fund being opened to businesses from all parts of the UK.

The Angel CoFund was launched in November 2011 with the twin aims of, fostering the UK’s business angel industry, and helping to support high growth potential businesses.

To fulfill these objectives, the fund works in partnership with groups of business angels to help companies reach their potential.

Making investments of £100,000 to £1 million

The Angel CoFund typically makes investments of £100,000 to £1 million in each business, but it only invests in companies alongside business angels.

To date, the fund has invested some £10 million in 27 businesses, with business angels investing a further £40 million in these enterprises.

Commenting on the expansion of the scheme, Business and Enterprise Minister Michael Fallon said, “The government is determined to encourage investment in enterprise and unlock access to the capital firms need to grow.”

“Thanks to their hard-won experience in business, business angels can be savvier than banks at spotting winners. By reinforcing their commitment with government support, the CoFund will support the most promising and entrepreneurial businesses, giving growth and jobs a kick-start.”

Companies successfully raising funds

Companies that have successfully raised investment through the Angel CoFund include:

  • Trident Energy – a firm that has developed and patented a low cost, high reliability generator that converts linear motion directly into electricity,
  • Yplan – a London-based start-up that’s building a platform for last-minute event booking on mobile,
  • Micrima – a spin-out from Bristol University which is developing safer, and more effective breast cancer screening,
  • Langtons – a company producing a boutique gin from locally sourced botanicals and water sourced from the Lake District for its softness and purity, and
  • Upad – a business providing a suite of services to allow landlords to self-manage and self-market their properties nationally.

High-growth potential firms seeking an investment through the CoFund should first find a syndicate of business angels. The syndicate will then apply to the Angel CoFund for funding.

Full details of the funding and application process can be found on the Angel CoFund website.

You can find more information on business angels in these guides;



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