SFC (previously referred to as Startup Funding Club – a UK a seed stage investor – has acquired £10 million from British Enterprise Investments (the business subsidiary of the British Enterprise Financial institution), to deploy a complete of £40 million throughout greater than 100 early-stage startups within the UK.
SFC intends to deploy the dedication in over 100 early stage companies throughout the UK to ship nearly £30m of recent funding for start-up and scale-up companies throughout all sectors.This shall be a major enhance for early-stage corporations throughout the UK at a time when the COVID-19 pandemic has made the funding panorama extremely unsure — specifically within the wake of the UK authorities’s announcement of its Future Fund co-investment scheme, which requires startups to have already got acquired not less than £250,000 in personal funding to qualify for help, leaving many early-stage companies nonetheless ineligible.
SFC has already accomplished investments totaling £5 million into 28 corporations throughout Q1 2020, with £1.6 million coming from BBI’s dedication.
BBI’s dedication is the second to be made via its Regional Angels Programme, which goals to enhance entry to funding for companies in elements of the UK the place early-stage capital may be scarce.
SFC was included in 2012 by Stephen Web page, a former software program entrepreneur who based and exited plenty of corporations, with a mission to assist high-potential start-ups succeed and to make angel investing extra accessible.
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