£50 million fund will invest alongside Business Angels
A new Angel co-investment fund will be operational in the next few months, making £50m available to invest alongside Business Angel syndicates into eligible SMEs.
The fund will invest alongside and on the same terms as the syndicates and will provide funding to individual businesses of between £50k and £1m in investment rounds ranging from £200k upwards.
The investment needs to be a new investment for the syndicate and should be of a size sufficient enough to properly fund the business and to allow for the cost of proper due diligence and legal advice.
The fund will be administered on a day to day basis by CfEL, the UK Government’s centre of knowledge, expertise and information on the design, implementation and management of finance measures to support Small and Medium Size enterprises (‘SMEs’) across the UK.
