£100m Angel CoFund extends to offer funding across whole of the UK

The scheme, launched in November 2011, was previously only available to businesses in specific regions of the state; but from today firms across the UK will be eligible for support.

The fund, which was created as a £50m offshoot of the Regional Growth Fund in 2011 and doubled in size to £100m by the chancellor George Osborne this year, aims to support growth of small and medium-sized businesses with high potential by investing alongside experienced private backers.

Businesses can receive amounts of between £100,000 and £1m from the Fund, which to date has provided £10m of direct investment alongside £40m from business angels into 27 companies.

George Whitehead, non-executive chairman of the Angel CoFund, said: “The Angel CoFund works towards simple and sensible principles: we want to support and improve angel investing in the UK; and we want to get cash to good companies that can use the money to really scale their businesses.

“We are the most active fund in the country and the largest of its type in the World, and we are delighted to be able to support entrepreneurs across the UK in this way.”