35 early-stage companies received investments of over £5m
Tuesday December 15th, 2015
Launched in December 2014, the London Co-investment Fund (LCIF) has decided to invest over £5m in 35 London based high growth tech companies.
The £26m fund, backed by the Mayor of London, is an initiative by Maggie Rodriguez-Piza of Funding London and John Spindler of Capital Enterprise which aims to bridge the funding gap for early-stage companies in London.
With a strong cohort of 10 co-investment partners the fund helps the portfolio companies secure the funding runway they require to take their businesses to the next level. The fund’s first investment completed in early January 2015 and since then the portfolio companies have achieved key milestones on their growth path.
An analysis of the fund’s investment activity has revealed that on average, angel investors make up well over 50% of the funding rounds that LCIF participates in and often LCIF is the only institutional investor. This trend aligns with LCIF’s core remit to empower high growth tech companies to optimise their funding rounds and enable them to concentrate on rapid development.
Commenting on the progress report of LCIF backed companies, the Mayor of London, Boris Johnson said:
“London’s tech and science sector is flourishing and the city is a hotbed of talented and ambitious people buzzing with exciting ideas who are setting up new companies in their droves. I am delighted that the London Co Investment Fund is helping companies make their ideas a reality and deliver jobs and growth for the capital. “
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