Angel CoFund makes first five investments

The investments in each business range from £360,000 to £3.6m. The UK Government committed £1.4m, with a further £5.8m provided by other investors.

Loughborough-based Phase Vision produces high accuracy industrial inspection equipment for the aerospace, nuclear and automotive industries.

style-passport.com is a women's online magazine and e-store that helps users put together their holiday wardrobes and benefit from travel tips.

Future Drinks is a Bristol-based company that has developed a range of healthy soft drinks.

London-based PlayJam is an aggregator of games for internet-enabled TVs.

Headquartered in Luton, Enval uses technology originally developed at Cambridge University to build commercial facilities for recovering aluminium from waste laminated packaging.

The £50m Business Angel Co Investment Fund (Angel CoFund) was launched in November 2011. The vehicle has been created with a grant from the Regional Growth Fund and invests alongside business angel syndicates from across England in high growth potential SMEs.

Initial equity investments sit in the £100,000-1m range. The fund invests alongside syndicates of business angels and can provide up to 49% of each investment round.

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