Angel Co Fund

You don’t apply to the Angel Co Fund directly. If you are in discussions with angel investors, they can apply and the Co Fund will invest alongside them, between 30% and (rarely) 50% of the funding round. So they can help bridge the gap between what a small group of angels is prepared to invest and the funding the business needs. The angel investors will need to identify a lead angel, who can present the deal to their investment committee.

£100k – £1m, following behind an angel syndicate

Businesses can be from within any industrial sector.

Business plan only, Product/Service ready to launch, Making early sales, Funding for growth.

£100m: Regional Growth Fund grant, and additional capital from the British Business Bank, (alongside syndicates of business angels “in order to support high potential businesses and give them the capital they need to develop and propel growth.”)

The CoFund was established with the dual objectives of providing both direct investment to high potential SMEs, enabling them to unlock their growth potential; and supporting the development of the UK business angel market, by encouraging syndication and best practice.

Syndicates should be looking for the Angel CoFund to provide equity or quasi-equity investments of between £100K and £1M into eligible UK SMEs.

  • SMEs at any stage of their lifecycle are eligible providing they have the required level of investment from the angel syndicate.
  • The fund will provide up to 49% (although by preference will be a smaller proportion) of the capital in investment rounds ranging from £200K upwards.
  • The size of the investment proposed needs to be significant enough to properly fund the business and to allow for the cost of proper due diligence and legal advice.
  • The investment needs to be a new investment for the syndicate, rather than supporting an existing investment.
  • Investee companies must also fall within the European Commission SME definition.

Individual investment decisions, are determined by the independent Investment Committee of the fund, made up of a number of highly experienced business angels and institutional investors. The investment management and administration of the fund is carried out by a small but experienced team seconded from the British Business Bank.

Example companies


Hopster helps kids learn through the shows they love, striking the balance between learning and fun. Since launching, the platform has seen exceptional growth and is now available in over 100 countries worldwide, as well as making its debut on Apple TV last year.

Why they invested

‘It’s no secret that technology is the bridge between education and entertainment for the youngest generation, and as such we look forward to continuing to work with Hopster as the team builds on the momentum we’ve seen from them in the past five months.’


Concepta is a women’s health diagnostic company, which will develop and market a novel diagnostic device for the simple and accurate testing of fertility, pregnancy and early stage healthy pregnancy monitoring.

Why they invested

Tim Mills “At the Angel CoFund we seek to support great and innovative British businesses, and Concepta certainly hits that note. We have been particularly impressed by the knowledge and experience of the Concepta team. The expertise Ian Gilham and David Evans bring to the table is invaluable and will be a real asset to Concepta.”


An online marketplace to help people meet their perfect sports instructor.

Why they invested

Tim Mills “Their platform fits a real need in the market – both in terms of digitising the instructor-led activity market, but also in terms of enabling people to get more involved in sport and achieve the active lifestyle they want on the go.”