Angel CoFund adds two Octopus figures to leadership team

Charlie Spargo's picture

Angel CoFund, the fund focused on investing in British SMEs, has appointed two new names to its team - both from Octopus Ventures.

The first, George Whitehead, has in fact sat on the Angel CoFund board as Non-Executive Director since 2011 when it was founded. He leaves his role as Venture Partner Manager at Octopus to take up an active role at Angel CoFund and become Partner.

The other is Alliott Cole, current CEO of Octopus, who continues in his role there as he becomes a Non-Executive Director at Angel CoFund.

The fund has directly invested more than £50 million into its portfolio businesses since launch, alongside a further £265 million from angels and VCs. Names that have been supported through the fund include Gousto, Hopster, Ebury, and CityPantry. 

George Whitehead, Partner, said: “The Angel CoFund has a unique model that, in our first fund, looks on track to make around 300% return on investment. Put simply, we align our interests with angel investors’ shared ambition to support and scale outstanding entrepreneurial teams.

"By combining our investment experience and the sector specific operational experience of active angel investors, supported by the £100m Angel CoFund, we are able to build a large and genuinely diverse portfolio. Having been closely involved with the ACF since the outset I’m delighted now to be joining the team in an executive capacity as Partner as we look to build on the success of our first fund.” 

Alliott Cole, CEO of Octopus Ventures, said: “Building great businesses is never easy and I’m a huge advocate for the step change that the right angel can bring to the fortunes of a company. The critical role angels have beyond just the cash they bring to the table is often overlooked, but the ACF has put this at the heart of their investment thesis with results that speak for themselves. I look forward to being part of the team as the ACF continues to expand and raises new funds; shaping amazing businesses across every sector.”

Tim Mills, Managing Partner at the ACF, commented: “We feel privileged to be able to announce two strong additions to the ACF team. Having worked closely alongside George for the last eight years in his capacity as a board member, I’m pleased to now be able to draw fully on his extensive knowledge and experience and bring him into the team full-time as a Partner, especially as the fund continues to expand. 

“It’s also a great pleasure to have Alliott join the board, bringing with him a deep understanding of venture investing, an extensive network and exceptional insight from supporting and growing businesses across the UK and US."