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24 June, 2014 - 07:01 By Tony Quested

Cambridge angel’s investment role for £100m fund

Cambridge entrepreneur Peter Cowley

Cambridge entrepreneur Peter Cowley is one of two additions to the investment committee of the Angel CoFund, a £100 million UK Government-backed fund for supporting and growing British SMEs.

Stephen Houston has also strengthened the engine room. The duo join an existing committee of 10 to preside over the fund’s investment decisions.

Cowley is a technology entrepreneur and angel investor who is well known in the Cambridge enterprise scene, where he is a board member of the Cambridge Angels, as well as a Fellow in Entrepreneurship at the Cambridge University Judge Business School. He is also investment director for Martlet, the angel vehicle of the Marshall Group in Cambridge.

Houston is best known for his involvement with Halo, the business angel network for Northern Ireland, which in 2010 was named British Business Angels Association’s Angel Network of the Year.

With a background in Fast Moving Consumer Goods and property, Houston brings to the role 25 years of management and startup experience.

Founded in 2011, the Angel CoFund seeks to back promising UK businesses and to help develop the emerging UK business angel investment market.

Backed by the British Business Bank and the Government’s Regional Growth Fund, the £100m Angel CoFund is able to make initial investments of between £100,000 and £1 million into businesses, alongside syndicates of business angels.

The investment committee’s role is to examine potential investment opportunities, discuss term sheets and review due diligence.

Tim Mills, investment director at the Angel CoFund, said of the appointments: “Since launching over two years ago, the Angel CoFund has made a significant impact on the UK angel investment and enterprise space, backing over 40 British businesses to date.

“It is with great pleasure then that we announce Peter and Stephen’s appointment to the investment committee. As active advocates of angel investment in the UK, they bring with them a wealth of experience and knowledge.”

• To date the fund has supported 42 companies – including Ventive, Yplan, PlayJam and Micrima – providing over £17 million in direct investment alongside £65 million from business angels and other investors.

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