The Angel CoFund (ACF) has made appointments to its team and board. Experienced investor and former Chairman of the Angel CoFund, George Whitehead has moved into the position of Partner, while Alliott Cole, the current CEO of Octopus Ventures, will also be joining the fund as Non-Exec Director.
The Angel CoFund – a fund that partners with experienced, sector-smart angel syndicates – has directly invested more than GBP50m into its portfolio businesses since launching in 2011, alongside a further GBP265m invested from angels and VCs. The fund has performed strongly, investing in more than ninety companies, with standout portfolio companies such as Gousto, Form3, and Hopster, and notable recent exits including Limejump, Ebury, and CityPantry.
George Whitehead joins the ACF leadership team from his role as Venture Partner Manager at Octopus Ventures, bringing with him more than twenty years of venture capital and entrepreneurial experience and an unparalleled network of Europe’s leading angel investors. George served as Non-Executive Chairman of the Angel CoFund since 2011.
George Whitehead, Partner at the ACF, says: “The Angel CoFund has a unique model that, in our first fund, looks on track to make around 300 per cent 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 GBP100 million 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.”
New to the board of the ACF is Alliott Cole, who retains his role as CEO of Octopus Ventures, one of Europe’s largest and most active venture investors with over GBP1.2 billion under management, investing GBP120m a year into early stage businesses. Since Alliott joined Octopus Ventures 2008, the firm has backed nearly 100 pioneering companies. He currently serves as a Board Member at Secret Escapes, Cazoo and Big Health. Alliott has also spent two years working in the US where he established Octopus Ventures’ office in New York. Under his leadership, the team has continued to evolve and now focuses on those entrepreneurs reimagining the future of health, the future of money and deep tech.
Alliott Cole, CEO of Octopus Ventures, says: “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, says: “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.
“On the back of an excellent few years of portfolio performance and with the opportunities to back tier one entrepreneurial UK talent to build world class businesses being as strong as ever, having George and Alliott on the team really lines us up for further success.”
