London-based ACF Investors, which was formerly known as Angel CoFund has been rebranded and has also launched a new fast-track investment fund that will provide equity or convertible loans to UK businesses.
The new Delta Fund is initially a £30M fund and it is a fast-track investment fund that offers equity and convertible loans to UK businesses. The key criteria in getting investment for the fund is the presence of one lead sector-smart angel investor investing a minimum of £70,000, which ACF Investors believe is the best validation of an early stage investment.
So, how it will work?
Initially, a £30 million fund, investments from the Delta Fund will be made exclusively alongside at least three angel investors who are new to the business. This must include at least one lead angel investor with demonstrable sector expertise who has committed more than £70,000 to the round. The Delta Fund will provide up to 49 percent in investment rounds greater than £500,000. Like ACF Investors’ original fund, the Angel CoFund, the Delta Fund is sector agnostic and will be invested in businesses across the UK.
Tim Mills, Managing Partner at ACF Investors said: “We have developed the Delta Fund to match the maturity of the UK angel investment ecosystem. The Delta Fund will provide access to more capital with reduced process from us, with the knowledge that the backing of sector smart angel investors is the best validation that an early stage business can have and gives businesses the best chance of success.”
George Whitehead, Partner at ACF Investors said: “The Delta Fund goes even further, placing the sector smart angel investor at the heart of the investment. By championing a company they believe has high potential, they are able to expedite the usual investment process and unlock additional capital that will accelerate growth for the business.”
The new brand goals
The Angel CoFund brand remains the name of the original fund, which will continue to invest along with angel syndicates in funding rounds greater than £200,000. This VC firm has been successful in using this model over the past decade, deploying over £40M in direct investment along with £200M from other angels and investors into over 90 companies. Some of its portfolio companies include UK’s greatest success stories such as Gousto, Ebury, Form3 and Creo Medical.
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