File: //home/investoo.co.uk/public_html/news/business-angel-cofund-invests-£72-million-small-firms.html
<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">
<html xmlns="http://www.w3.org/1999/xhtml" lang="en" xml:lang="en">
<head>
<meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
<title>Business Angel CoFund invests £7.2 million in small firms | INVESTOO</title>
<link rel="canonical" href="https://investoo.co.uk/news/business-angel-cofund-invests-£72-million-small-firms" />
<meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
<link rel="shortcut icon" href="../sites/all/themes/bbaa_theme/favicon.ico" type="image/x-icon"/>
<meta name="keywords" content="BBAA,British Business Angels Association,angel,angel investing,early stage,entrepreneurial finance,enterprise investment scheme,business angel"/>
<meta name="description" content="British Business Angels Association is the national trade association dedicated to promoting angel investing and supporting early stage investment in the UK."/>
<link type="text/css" rel="stylesheet" media="all" href="../sites/default/files/css/css_d9ae3f4e101067568fcb8eacbfc4fe37.css"/>
<link type="text/css" rel="stylesheet" media="all" href="../sites/all/themes/fusion/fusion_core/css/grid12-960-y.css"/>
<!--[if IE 8]>
<link type="text/css" rel="stylesheet" media="all" href="/sites/all/themes/fusion/fusion_core/css/ie8-fixes.css?y" />
<![endif]-->
<!--[if IE 7]>
<link type="text/css" rel="stylesheet" media="all" href="/sites/all/themes/fusion/fusion_core/css/ie7-fixes.css?y" />
<![endif]-->
<!--[if lte IE 6]>
<link type="text/css" rel="stylesheet" media="all" href="/sites/all/themes/fusion/fusion_core/css/ie6-fixes.css?y"/>
<link type="text/css" rel="stylesheet" media="all" href="/sites/all/themes/bbaa_theme/css/ie6-fixes.css?y"/>
<![endif]-->
<script type="text/javascript" src="../sites/default/files/js/js_143163b5781832450e59ccfd256d72e3.js"></script>
<script type="text/javascript">
<!--//--><![CDATA[//><!--
jQuery.extend(Drupal.settings, {"basePath":"\/","googleanalytics":{"trackOutgoing":1,"trackMailto":1,"trackDownload":1,"trackDownloadExtensions":"7z|aac|arc|arj|asf|asx|avi|bin|csv|doc|exe|flv|gif|gz|gzip|hqx|jar|jpe?g|js|mp(2|3|4|e?g)|mov(ie)?|msi|msp|pdf|phps|png|ppt|qtm?|ra(m|r)?|sea|sit|tar|tgz|torrent|txt|wav|wma|wmv|wpd|xls|xml|z|zip"}});
//--><!]]>
</script>
</head>
<body id="pid-news-business-angel-cofund-invests-£72-million-small-firms" class="not-front not-logged-in page-node node-type-news no-sidebars full-node layout-main-last sidebars-split font-family-myriad font-size-13 grid-type-960 grid-width-12">
<div id="page" class="page">
<div id="page-inner" class="page-inner">
<div id="skip">
<a href="#main-content-area">Skip to Main Content Area</a>
</div>
<!-- header-top row: width = grid_width -->
<!-- header-group row: width = grid_width -->
<div id="header-group-wrapper" class="header-group-wrapper full-width">
<div id="header-group" class="header-group row grid12-12">
<div id="header-group-inner" class="header-group-inner inner clearfix">
<div id="header-site-info" class="header-site-info block">
<div id="header-site-info-inner" class="header-site-info-inner inner">
<div id="logo">
<a href="/" title="Home"><img src="../sites/default/files/bbaa_theme_logo.png" alt="Home"/></a>
</div>
</div><!-- /header-site-info-inner -->
</div><!-- /header-site-info -->
<div id="block-menu-primary-links" class="block block-menu odd first last grid12-12 fusion-inline-menu">
<div class="inner clearfix">
<div class="content clearfix">
<ul class="menu"><li class="leaf first"><a href="/" title="Welcome">Home</a></li>
<li class="collapsed"><a href="../about" title="About Us">About</a></li>
<li class="collapsed"><a href="../membership" title="Membership">Membership</a></li>
<li class="collapsed"><a href="../member-directory" title="Member Directory">Investment Directory</a></li>
<li class="collapsed"><a href="../entrepreneurs" title="Entrepreneurs">Entrepreneurs</a></li>
<li class="collapsed"><a href="../investors" title="Investors">Investors</a></li>
<li class="leaf"><a href="../sponsors" title="Sponsors">Sponsors</a></li>
<li class="collapsed"><a href="../news" title="">News</a></li>
<li class="collapsed"><a href="../events" title="">Events</a></li>
<li class="collapsed"><a href="../research-policy" title="Research & Policy">Research & Policy</a></li>
<li class="leaf last"><a href="../be-an-angel" title="">Be An Angel</a></li>
</ul> </div>
</div><!-- /block-inner -->
</div><!-- /block -->
</div><!-- /header-group-inner -->
</div><!-- /header-group -->
</div><!-- /header-group-wrapper -->
<!-- preface-top row: width = grid_width -->
<!-- main row: width = grid_width -->
<div id="main-wrapper" class="main-wrapper full-width">
<div id="main" class="main row grid12-12">
<div id="main-inner" class="main-inner inner clearfix">
<!-- main group: width = grid_width - sidebar_first_width -->
<div id="main-group" class="main-group row nested grid12-12">
<div id="main-group-inner" class="main-group-inner inner">
<div id="main-content" class="main-content row nested">
<div id="main-content-inner" class="main-content-inner inner">
<!-- content group: width = grid_width - (sidebar_first_width + sidebar_last_width) -->
<div id="content-group" class="content-group row nested grid12-8">
<div id="content-group-inner" class="content-group-inner inner">
<div id="content-region" class="content-region row nested">
<div id="content-region-inner" class="content-region-inner inner">
<a name="main-content-area" id="main-content-area"></a>
<div id="content-inner" class="content-inner block">
<div id="content-inner-inner" class="content-inner-inner inner">
<h1 class="title">Business Angel CoFund invests £7.2 million in small firms </h1>
<div id="content-content" class="content-content">
<div id="node-505" class="node odd full-node node-type-news">
<div class="inner">
<div class="content clearfix">
<div class="field field-type-civicrm-cck-contact field-field-member">
<div class="field-items">
<div class="field-item odd">
<div class="civicrm_cck"><a href="../member/BritishBusinessAngelsAssociation">British Business Angels Association</a></div> </div>
</div>
</div>
<div class="field field-type-date field-field-date">
<div class="field-items">
<div class="field-item odd">
<span class="date-display-single">8 May 2012</span> </div>
</div>
</div>
<p>The <a href="http://www.angelcofund.co.uk/" target="_blank" rel="nofollow"><strong>Angel CoFund</strong></a> has today (Tuesday) announced the completion of its <strong>first five investments</strong>, with a total of £7.2 million committed to <strong>small and medium sized enterprises</strong> (SMEs).<br/>
<br/>
Business and Enterprise Minister Mark Prisk joined some of the first businesses to receive funding, following the end of a strong first quarter for the Angel CoFund, which was launched in November 2011.<br/>
<br/>
The Government backed, £50m Angel CoFund invests alongside syndicates of business angels into high potential SMEs from across England. The fund will boost the quality and quantity of business angel investing in England to support long-term, high quality jobs in growing companies.<br/>
<br/>
The Angel CoFund is a private sector fund supported by a grant from the Government’s Regional Growth Fund.<br/>
<br/>
“Business angels play a crucial role in supporting new and growing businesses, and the Angel CoFund is helping small firms get the vital funding they need," Mark Prisk said.<br/>
<br/>
“The variety of businesses that are receiving this funding reveals the range of skills and exciting opportunities that are being created today. It is absolutely critical that ambitious small firms can access the finance that they need to expand and grow.<br/>
<br/>
“I am delighted to confirm today that five investments, totalling £7.2 million, have been made. The Angel CoFund demonstrates the support that the Government can play in partnership with the UK’s leading business angels, to enable business growth and job creation.”<br/>
<br/>
The investments in each business range from £360k to £3.6m and reflect the wide range of businesses that the Angel CoFund can support across stage, sector and location, with £1.4 million of funding from the Government helping to secure a further £5.8 million from other investors. The first five investments are:<br/>
</p>
<ul>
<li>
Phase Vision, a Loughborough based company producing high accuracy industrial inspection equipment for the aerospace, nuclear and automotive industries. Their innovative ‘white light scanners’ enable more efficient manufacturing, delivering lower waste, cost and environmental impact;</li>
</ul>
<ul>
<li>
style-passport.com, a London based women’s online magazine and e-store bringing together fashion services to: compose the ultimate look for each holiday destination; Elegant and easy to navigate, style-passport.com emulates traditional fashion editor’s highlights in a modern online form;</li>
</ul>
<ul>
<li>
Future Drinks, a Bristol based company that has developed an innovative range of healthy soft drinks. These have been successfully trialled in the UK and will launch in the summer 2012;</li>
</ul>
<ul>
<li>
PlayJam, a London based company which is the leading worldwide aggregator of games for internet enabled TVs. Working with global TV brands including Samsung, LG, Panasonic and Sony, to provide a complete casual and social games experience; and</li>
</ul>
<ul>
<li>
Enval, a Luton based company, using technology originally developed at Cambridge University, to build commercial facilities for recovering aluminium from waste laminated packaging. No effective solution has previously existed for this process which results in the UK alone sending 14,000 tonnes of aluminium to landfill each year.</li>
</ul>
<p><br/>
The Angel CoFund, which expects to invest at least £70m alongside business angels in the next 10 years, reflects the growing importance of business angel investing; and supports the Government’s ambition to help small businesses access a more diverse range of finance sources. Many of the co-investing angels are taking active roles to support and mentor the businesses, providing valuable industry and financial knowledge.<br/>
<br/>
The Angel CoFund was established by a consortium of business angel organisations, including Braveheart Investment Group plc, Hotspur Capital Partners Limited, Octopus Investments Limited and The Oxfordshire Investment Opportunity Network Limited, and Capital for Enterprise Limited.<br/>
Rory Earley, Capital for Enterprise Limited’s CEO, says the company is very pleased to be working with the Angel CoFund.<br/>
<br/>
“The Angel CoFund enables us to work alongside some really high quality people, including successful entrepreneurs, in order to deliver the funding that is so essential to developing high growth businesses,” he said.</p>
</div>
<div class="terms">
<ul class="links inline"><li class="taxonomy_term_29 first"><a href="../taxonomy/term/29" rel="tag" title="">BBAA Main Site</a></li>
<li class="taxonomy_term_30 last"><a href="../taxonomy/term/30" rel="tag" title="">Be An Angel Subsite</a></li>
</ul> </div>
</div><!-- /inner -->
</div><!-- /node-505 -->
</div><!-- /content-content -->
</div><!-- /content-inner-inner -->
</div><!-- /content-inner -->
</div><!-- /content-region-inner -->
</div><!-- /content-region -->
</div><!-- /content-group-inner -->
</div><!-- /content-group -->
<div id="sidebar-last" class="sidebar-last row nested grid12-4">
<div id="sidebar-last-inner" class="sidebar-last-inner inner clearfix">
<div id="block-views-news-block_4" class="block block-views odd first block-aqua grid12-4">
<div class="inner clearfix">
<h2 class="title block-title"><a href="../news" class="block-title-link">BBAA News</a></h2>
<div class="content clearfix">
<div class="view view-news view-id-news view-display-id-block_4 view-dom-id-1">
<div class="view-content">
<div class="views-row views-row-1 views-row-odd views-row-first">
<div class="views-field-title">
<span class="field-content"><a href="../news/exclusive-early-bird-offer-all-ticket-pricing-2012-bbaa-national-investment-summit-awards-dinne">Exclusive Early Bird Offer on ALL ticket pricing for the 2012 BBAA National Investment Summit & Awards Dinner</a></span>
</div>
<div class="views-field-field-date-value">
<span class="field-content"><span class="date-display-single">8 June 2012</span></span>
</div>
</div>
<div class="views-row views-row-2 views-row-even">
<div class="views-field-title">
<span class="field-content"><a href="../news/government-has-now-received-state-aid-approval-ec-to-make-changes-to-eis-and-vct-scheme">Government has now received State aid approval from the EC to make changes to the EIS and VCT scheme</a></span>
</div>
<div class="views-field-field-date-value">
<span class="field-content"><span class="date-display-single">31 May 2012</span></span>
</div>
</div>
<div class="views-row views-row-3 views-row-odd views-row-last">
<div class="views-field-title">
<span class="field-content"><a href="../news/make-business-your-business-–-supporting-start-and-development-small-business">Make Business Your Business – supporting the start-up and development of small business</a></span>
</div>
<div class="views-field-field-date-value">
<span class="field-content"><span class="date-display-single">29 May 2012</span></span>
</div>
</div>
</div>
<div class="more-link">
<a href="../news">
more news ... </a>
</div>
</div> </div>
</div><!-- /block-inner -->
</div><!-- /block -->
<div id="block-views-events-block_3" class="block block-views even last grid12-4">
<div class="inner clearfix">
<h2 class="title block-title">Events</h2>
<div class="content clearfix">
<div class="view view-events view-id-events view-display-id-block_3 view-dom-id-2">
<div class="view-content">
<div class="views-row views-row-1 views-row-odd views-row-first">
<div class="views-field-field-member-contact-id">
<span class="field-content"><span class="civicrm_cck">British Business Angels Association</span></span>
</div>
<div class="views-field-title">
<span class="field-content"><a href="../events/bbaa-national-investment-summit-2012">BBAA National Investment Summit 2012</a></span>
</div>
<div class="views-field-field-date-value">
<span class="field-content"><span class="date-display-single">2 July 2012</span></span>
</div>
</div>
<div class="views-row views-row-2 views-row-even views-row-last">
<div class="views-field-field-member-contact-id">
<span class="field-content"><span class="civicrm_cck">British Business Angels Association</span></span>
</div>
<div class="views-field-title">
<span class="field-content"><a href="../events/bbaa-national-awards-dinner-2012">BBAA National Awards Dinner 2012</a></span>
</div>
<div class="views-field-field-date-value">
<span class="field-content"><span class="date-display-single">2 July 2012</span></span>
</div>
</div>
</div>
</div> </div>
</div><!-- /block-inner -->
</div><!-- /block -->
</div><!-- /sidebar-last-inner -->
</div><!-- /sidebar-last -->
</div><!-- /main-content-inner -->
</div><!-- /main-content -->
</div><!-- /main-group-inner -->
</div><!-- /main-group -->
</div><!-- /main-inner -->
</div><!-- /main -->
</div><!-- /main-wrapper -->
<!-- postscript-bottom row: width = grid_width -->
<!-- footer row: width = grid_width -->
<div id="footer-wrapper" class="footer-wrapper full-width">
<div id="footer" class="footer row grid12-12">
<div id="footer-inner" class="footer-inner inner clearfix">
<div id="block-block-9" class="block block-block odd first grid12-12">
<div class="inner clearfix">
<div class="content clearfix">
<p style="line-height:0.5em">Sponsored by:</p>
<table border="0" cellpadding="0" cellspacing="0">
<tbody>
<tr>
<td colspan="2" style="vertical-align:middle">
<p style="line-height:36px"><a href="http://www.bba.org.uk/" target="_blank" rel="nofollow"><img alt="" src="../sites/default/files/media/image/content/sponsors/logo-bba.jpg" style="vertical-align:middle; width:45px; height:36px"/></a> <a href="http://www.businessgrowthfund.co.uk/" target="_blank" rel="nofollow"><img alt="" src="../sites/default/files/media/image/content/sponsors/logo-bgf.jpg" style="vertical-align:middle; width:59px; height:36px"/></a> <a href="http://www.capitalforenterprise.gov.uk/" target="_blank" rel="nofollow"><img alt="" src="../sites/default/files/media/image/content/sponsors/logo-cfe.jpg" style="vertical-align:middle; width:75px; height:36px"/></a> <a href="http://www.lloydstsbbusiness.com/" target="_blank" rel="nofollow"><img alt="Lloyds TSB Commercial" src="../sites/default/files/media/image/content/sponsors/logo-lloyds.jpg" style="vertical-align:middle; width:219px; height:21px"/></a> <a href="http://www.nesta.org.uk/" target="_blank" rel="nofollow"><img alt="NESTA" src="../sites/default/files/media/image/content/sponsors/logo-nesta.jpg" style="vertical-align:middle; width:114px; height:20px"/></a> <a href="http://www.smith.williamson.co.uk/" target="_blank" rel="nofollow"><img alt="Smith & Williamson" src="../sites/default/files/media/image/content/sponsors/logo-smithwilliamson.jpg" style="vertical-align:middle; width:201px; height:16px"/></a> <a href="http://www.unilever.co.uk/" target="_blank" rel="nofollow"><img alt="unilever_web_0.jpg" src="../sites/default/files/media/image/content/sponsors/unilever_web_0.jpg" style="vertical-align:middle; width:47px; height:46px"/></a></p>
</td>
</tr>
<tr>
<td colspan="2" style="vertical-align:top">
<p><a href="/"><img alt="" src="../sites/default/files/media/image/content/sponsors/bbaa_logo.png" style="width:50px; height:25px"/></a> The British Business Angels Association is registered in England and Wales (Registration number 02127064).<br/>
100 Pall Mall, St James, London, SW1Y 5NQ • info@bbaa.org.uk • +44 (0)<span><span>20 7321 5669</span></span></p>
<a href="../terms" rel="nofollow">Terms</a> © British Business Angels Association</td>
<td style="vertical-align:bottom">
<a href="http://www.twitter.com/bbaangels" target="_blank" rel="nofollow"><img alt="footer-twitter.jpg" src="../sites/default/files/media/image/site/footer-twitter.jpg"/></a> <a href="http://www.linkedin.com/company/british-business-angels-association" target="_blank" rel="nofollow"><img alt="footer-linkedin.jpg" src="../sites/default/files/media/image/site/footer-linkedin.jpg"/></a></td>
</tr>
</tbody>
</table>
<p style="line-height:0em"> </p>
</div>
</div><!-- /block-inner -->
</div><!-- /block -->
<div id="block-block-10" class="block block-block even last grid12-12 fusion-right-content">
<div class="inner clearfix">
<div class="content clearfix">
<p><a href="http://www.surgedesign.co.uk/" target="_blank" rel="nofollow">Design by surge design</a> - <a href="http://www.pecansolutions.com/" target="_blank">Website by Pecan Solutions</a></p>
</div>
</div><!-- /block-inner -->
</div><!-- /block -->
</div><!-- /footer-inner -->
</div><!-- /footer -->
</div><!-- /footer-wrapper -->
<!-- footer-message row: width = grid_width -->
<div id="footer-message-wrapper" class="footer-message-wrapper full-width">
<div id="footer-message" class="footer-message row grid12-12">
<div id="footer-message-inner" class="footer-message-inner inner clearfix">
</div><!-- /footer-message-inner -->
</div><!-- /footer-message -->
</div><!-- /footer-message-wrapper -->
</div><!-- /page-inner -->
</div><!-- /page -->
<script type="text/javascript">
<!--//--><![CDATA[//><!--
//--><!]]>
</script>
</body>
</html>