Interesting mix of investors in new fund consortium for London, which includes traditional VC, business angels and crowd funders, anchored by the public sector. This is a good collaboration - too often the relationship between angels and VCs is tricky. It also shows how crowdfunding is starting to become mainstream
A new venture capital fund for startups has been launched by the mayor of London. The new London Co-Investment Fund will be supported by £25 million from the mayor’s office and up to £60 million from six private-sector partners, so £85 million or $133 million in total. The six private partners will be Wellington Partners (a major European VC), Playfair Capital (a Micro-VC), three business Angel syndicates (London Business Angels, Angel Lab and Firestartr) and the Crowdcube/ Braveheart Consortium (a consortium between an equity crowd funding platform and a fund manager). The new fund targets small businesses in the areas of science, technology and “digital” looking to raise between £250,000 and £1m.