Circalit’s funding round corner-stoned by investment by Angels in the City /LBA Syndicate
Early Stage London based digital publishing platform specialist, Circalit (http://www.circalit.com/public/), has successfully closed a funding round which was corner-stoned by an investment by a syndicate of Angels in the Cityinvesting alongsideLBA investors. The company has developed an innovative digital publishing platform and aims to become the “youtube for ebooks,” where writers can publish their books on web and mobile, and sell directly to readers at the price they choose. Content is distributed through Facebook, APIs, Twitter and widgets. The new funds will be used to expand the company’s resources, bolster technical development and accelerate growth.
Angels in the City aims to increase the awareness of individualsbased in the Financial Square Mile to become investors and to bring their financial capacity and business experience to invest in innovative, entrepreneurs with high growth potential in the City Fringes, including the Tech City cluster. The City of London Corporation is working with London Business Angels to deliver the programme (http://www.angelcapital.co.uk/content/angels-city).
Raoul Tawadey, Circalit CEO, comments, “We're absolutely delighted to be closing this round of funding with Angels in the City/LBA and we look forward to launching our new product in the next few months. The Angels in the City/LBA service has provided us not only with the necessary capital but with the relevant sector expertise to take us through to our product-market-fit"
Anthony Clarke, London Business Angels Managing Director, comments, “I am delighted that, following the Angels in the City Presentation event at the Innovation Warehouse in Spitalfields on the 25th April 2012, supported by City of London Corporation, a syndicate of Angels in the City investors together with angels from LBA have underpinned Circalit’s funding round. We have now delivered 7 awareness raising and capacity building workshops under the Angels in the City project since November 2011, bringing LBA’s longstanding experience of supporting angel investing and building the capacity of new investors. Around 80 potential angels from the City of London have participated so far in the project and I am delighted that a number of these individuals have started to invest and add value to early stage companies in the city fringes bringing their financial capital, experiences and contacts to support the growth of these businesses. “
Please contact Alexander Sleigh: alexander.s@angelcapital.co.uk
London Business Angels
Anthony Clarke, Managing Director
Tel: +44 (0)20 7321 5672
E-mail: enquiries@lbangels.co.uk
Web: www.lbangels.co.uk
About London Business Angels
LBA is one of the most experienced private angel networks in the UK. Since the early 1980s the network has been connecting innovating fast growth small and medium sized enterprises with investment through our network of business angel investors. LBA, part of Angel Capital Group, is professionally managed by a highly experienced management team, leveraging over 15 years’ experience in the early stage investment marketplace as established leaders in the development of new angel-led early stage investment initiatives, and nearly 30 years’ investing experience through the LBA network. LBA is a founding member of the British Business Angels Association, the industry's best practice trade association, and is also a member of EBAN, the European Business Angels Network.
About the LBA EIS/SEIS Approved RoundTable Syndicate Funds
The LBA EIS Approved RoundTable Syndicate Fund is the culmination of 30 years’ experience of pioneering innovation in the UK Angel investment market. This FSA regulated HMRC Approved EIS Fund offers LBA Investors an innovative way to acquire a portfolio of investments, while taking advantage of the personal tax relief offered by the Enterprise Investment Scheme. The First £300k LBA EIS RoundTable Fund 2010 was fully invested in January 2011, making four investments in leading edge technologies during the previous year, spread across a range of sectors: Eykona (medtech); Syrinix (cleantech); ipadio (mobile); The Electrospinning Company (nanotech).
Following the successful 2010 Fund, the LBA EIS Approved RoundTable Syndicate Fund 2011-12 closed for subscriptions on 13 May 2011, being 40% larger at £420k. The fund invested in 5 leading edge technologies spread across a range of sectors: Camstent (medtech), Momentum Bioscience (medtech), Phase Vision (high value manufacturing), Michelson Diagnostics (medtech), Isotera (cleantech)
The LBA EIS Roundtable Syndicate Fund 2012, closed for subsciprtions on 5th April 2012, being the largest raised to date at £455k. The fund will seek to invest in 5-6 early stage companies in the forthcoming year.
The LBA SEIS Roundtable Syndicate Fund 2012, closed for subscriptions on 19th October 2012 and will seek to co-invest across 4-5 SEIS eligible deals alongside LBA investors
