Business Angel £50m Co Investment Fund seeks Investment Committee Members

British Business Angels Association
5 September 2011

BBAA is delighted that Capital for Enterprise Limited, as administrator of this new £50 co-investment fund alongside Angel Syndicates, is now moving forward and seeking to appoint an Investment Committee comprising of people with a track record of success in SME investment.

Role:

  • Acting as Investment Committee for the fund, reviewing investment proposals submitted by Business Angel syndicates and providing advice and feedback
  • Investments will be in the range of £100k to £2m and the decision to invest will be made following consideration of proposals and information provided by the Business Angels Syndicates
  • Investment Committee business will be conducted via telephone and correspondence. Members will be expected to attend a minimum of two meetings per month, with occasional meetings in person. The investment Committee may convene on a weekly basis at busy times

The Person:

Individuals will have a robust track record of making successful investments either within a recognised fund or on a personal basis. Specific sector experience is not a requirement but may be taken into account in the selection process. More information on the Co-Investment Fund may be found at http://www.capitalforenterprise.gov.uk/portfolio

If you have a keen interest in supporting UK SME growth, and would like to be involved as a member of the investment Comittee, please send a CV and a covering letter to Caroline Naylor at caroline@craconsultants.com by Friday September 16 2011. To discuss the opportunity further call Caroline Naylor on01142419030. All direct or third party applications will be forwarded to CRA Financial at www.craconsultants.com

About the new Fund:

The Business Angel Co Investment Fund (CoFund) has been made possible because of a successful bid to the UK Government’s Regional Growth Fund. The fund will make £50m available to invest alongside Business Angel networks or syndicates (hereafter both referred to as “Syndicates”) into eligible SMEs. The bid was approved, subject to due diligence, on 12 April 2011 and could be operational by the autumn. In the meantime interested Syndicates can register their interest to receive updates by sending an email with their contact details to cofund@capitalforenterprise.gov.uk.

  • The fund will not be open to approaches from individual businesses. Businesses seeking investment should first look for an investment Syndicate.
  • Syndicates should be looking for the CoFund to provide funding of between £50,000 and £1m in investment rounds ranging from £200,000 upwards into eligible SMEs(Subject to any EU State aid requirements and review in the light of experience).
  • The size of the investment 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 will need to be a new investment for the Syndicate, rather than supporting an existing investment, which will help to ensure that the Syndicate and the CoFund’s objectives are broadly aligned.
  • The CoFund will, to the extent possible, follow the terms of the Syndicate including the structure and price of any investment. Once invested the CoFund will be able to make follow on investments alongside Syndicates in to companies that are already within its portfolio.