Business angels network launches fintech fund
A high-profile business angels network has launched its own fund to back fintech firms.
Portfolio Ventures, which has helped introduce companies such as car insurance fintech Marshmallow and investment platform PensionBee to angel and venture capital investors, is now looking to provide the financial backing itself.
Its founder Will Brooks has unveiled the PV Angel Fund, which has backing from established angel investors such as Chris Adelsbach and Charles Delingpole, who was a co-founder of MarketFinance.
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The fund will invest between £100,000 and £300,000 in 10 to 15 UK-based companies raising pre-seed to Series A funding.
Brooks said the fund’s value will come from its network of founders and portfolio companies with experience from pre-seed to exit.
“Our vision with the PV Angel Fund is to be the co-investor of choice, the ‘institutional angel’ that every founder wants on their cap table,” Brooks said.
“While we are investing as a fund, we think like an angel and act like an angel and our intention is to be as founder-friendly as possible.
“We don’t lead rounds but can make very quick investment decisions and want to be a collaborative partner for founders.”
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