ACF Investors (formerly the Angel CoFund) has launched a fast-track investment fund.
The Delta Fund provides equity or convertible loans to UK businesses that have been backed by a syndicate of angel investors with deep sector knowledge.
The new funding model allows ACF Investors to provide high-potential businesses with access to larger sums of capital, faster. Initially a £30m 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.
Led by Tim Mills, Managing Partner, and George Whitehead, Partner, the 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.
The launch of the Delta Fund coincides with the rebrand of the venture capital firm to ACF Investors.
The Angel CoFund brand remains the name of the original fund, which will continue to invest alongside angel syndicates in funding rounds greater than £200,000. The Angel CoFund has deployed more than £40m in direct investment alongside £200m from other angels and investors, into over 90 companies, including some of the UK’s greatest success stories including Gousto, Ebury, Form3 and Creo Medical.