Green Angel Syndicate raises new fund for cleantech expansion
The UK’s first angel syndicate for the green economy, Green Angel Syndicate, has successfully raised new funds and appointed a new advisory board. This will enable them to reach a wider population of angels for tomorrow’s cleantech success stories.
In a bold move for an angel investment fund, the syndicate successfully raised equity for itself from 13 of its most enthusiastic members, so that the syndicate could expand its marketing and communications capacity as it gears up for a third pitch event in November.
Green Angel Syndicate has also shaped this group of investors into a new advisory board, whose members each have direct specialist knowledge of the cleantech sector that the syndicate can draw on for future investment activities.
The fundraising and new advisory board will help the syndicate attract new angel investment for future cleantech successes, such as leading UK developer of home energy storage systems Powervault, and London-based developer of hybrid and electric drivetrains for buses Vantage Power.
The developments come at a busy time for Green Angel Syndicate, following the appointment of Simon Acland to the Board, and the relocation to new London Bridge offices.
Green Angel Syndicate Founder Nick Lyth said:
“In an unusual departure for Green Angel Syndicate, a funding round has attracted thirteen of its most enthusiastic members investing in equity in the syndicate itself.
“This will extend the range and depth of the syndicate’s capacity for analysing, understanding and predicting the potential of its investee companies, effectively de-risking the investments with specialist knowledge to a much greater extent than would otherwise be possible.
“This has been a team building event as much as a fund-raising exercise.”
Green Angel Syndicate Director and new Board member Simon Acland said:
“Rather than bootstrapping the whole venture we wanted to raise funds to invest in and grow the syndicate so that we can ensure more deals for future cleantech success stories.
“Among the members of the new advisory board we have a healthy mix of entrepreneurs, people who have successfully exited and sold their businesses as well as business leaders across the clean and green economy. We’re excited to be able to draw on the expertise of them all to ensure we create more opportunities for exciting companies.
“It’s an exciting time for the industry, we’ve seen a lot of businesses raising money in the sector and we’ve already logged 140 business deals this year, with several of these reaching the next stage for due diligence for us. So, you could say it’s a very target-rich environment.”
Green Angel Syndicate hosted its second-ever pitch event, bringing together four exciting companies to the Cocoon Innovation Centre last month. The syndicate is planning a third pitch event on November 30 and new members are welcome to get in contact if they wish to join.
About Green Angel Syndicate
Founded in 2013, Green Angel Syndicate is based in London and serves investors throughout the UK. The syndicate was created to make investments in early-stage technologies, processes and installations in the Green Economy. Green Angel Syndicate invests in early stage, innovative technology companies that are seeking to improve the way we use resources – energy, water and the wider transition to a greener economy – as well as sustainable transport and smart cities.