LBA (London Business Angels) is now a syndicate partner of the £50m Angel Co Fund following completion of Cofund’s first investment into Phase Vision being £211k to complete a £1.5m funding round
LBA has become a syndicate partner of the £50m Angel Co Fund (CoFund) following completion of the CoFund’s first investment being £211k invested into Loughborough-based Phase Vision. This investment completed a £1.5m funding round, which was cornerstoned by a £643k investment by an LBA syndicate. The LBA syndicate was led by LBA investor Nathan Hill of Qi3 Accelerator and included a £100k investment by the LBA EIS 2011 Roundtable Syndicate Fund. Consequently all qualifying investment opportunities which are being backed by LBA’s EIS Roundtable Syndicate funds can automatically be considered for investment by the CoFund on the same investment terms, giving SMEs which build angel syndicates an opportunity to significantly increase the level of investment achieved through the LBA network. The next LBA EIS Roundtable Syndicate Fund 2012 is now open for business in FY 2012/2013 with £455k to invest into circa 5-6 LBA syndicates in FY 2012/2013.
The £50m Business Angel Co Fund ( CoFund) was launched in November 2011, www.angelcofund.co.uk, and has been created with a grant from the Regional Growth Fund and invests alongside business angel syndicates. The Fund makes initial equity investments of between £100k and £1m into SMEs alongside syndicates of business angels subject to certain geographical restrictions and an upper limit of 49% of any investment round.
Anthony Clarke, Managing Director of London Business Angels, comments, “LBA is delighted to become a syndicate partner of the CoFund and to successfully participate in its first deal. This mutually beneficial relationship will give the LBA EIS Roundtable Syndicate Funds a potential investment partner for future investment opportunities and gives the CoFund access to a consistent stream of quality deal flow. We look forward to working with the CoFund in the next few years to fuel the growth of innovative early stage UK SMEs and we welcome all enquiries from interested parties seeking to take advantage of this additional funding potential”
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
