Proposals for Investment
Proposals to the Angel CoFund may only be made by business angel syndicates. Individual businesses seeking investment are not eligible to apply directly and should first look for an investment syndicate. More information on business angels, syndicates and networks can be found at the UK Business Angels Association
The Angel CoFund operates a simple six step investment process:
Where the proposal is from a business angel syndicate, initial applications to the Angel CoFund should be made using the Investment Proposal Form which can be downloaded here. If, further to a review of eligibility, the proposal is felt to meet the criteria of the fund a detailed investment paper, with supporting due diligence, will then be requested and will be considered by the Angel CoFund’s Investment Committee. An outline of the content of the investment paper and a description of the type of due diligence required can be found here. It should be noted that the fund reserves the right not to proceed with any investment proposal where it feels its investment criteria or investment objectives are not being met.
Angel CoFund investments are not intended to be State Aid and the Investment Committee will consider all propositions on a fully commercial basis, “from the perspective of an angel investor”. Assuming that sufficient information has been received, it is envisaged that for the majority of proposals the Investment Committee will make a decision without any company visits or meetings with management (other than, in some situations, via telephone conference). The Investment Committee may however request syndicate members to be available to answer questions by telephone.
The syndicate will be expected to take the lead in managing the deal through to completion. The Angel CoFund will appoint counsel and use standard legal documentation, typical for investments of this nature. Details of standard legal terms are available on request.