NCM are delighted to announce they have taken over the administration of the Angel Co-Fund and Akero Capital Partners LLP (“Akero”) has become an Appointed Representative of NCM. Akero is made up of individuals who previously worked with the British Business Bank and will be seeking its own FCA authorisation in due course but in the interim NCM will act as manager to the Co- Fund with Akero appointed as Investment Adviser.
The Angel CoFund is a £100M investment fund with objectives to back promising UK businesses and help develop the important business angel investment market. Launched in November 2011, the fund makes initial investments of between £100K and £1M, alongside syndicates of business angels in order to support high potential businesses and give them the capital they need to develop and propel growth. Since launch the fund has invested and committed £37M, alongside a further £180M from business angels and other investors, providing support for 79 companies (October 2017). The fund retains 100% follow-on capacity. The CoFund is supported with capital investment from the British Business Bank.
Kathleen McLeay, NCM Chief Executive commented, “We are delighted to further cement a long standing relationship with the British Business Bank team and very much look forward to working with them on this venture going forward.”