East of England Co-investment (COIN) Fund
The £3.6m East of England Co-investment (COIN) Fund was created in December 2004 with money from ERDF and EEDA. The fund helps early stage and growing businesses obtain much needed investment capital to develop new opportunities in specified areas of the East of England, considered by the European Commission to be an area that is in need of particular help and support. As its name implies the fund invests alongside other investors - Business Angels.
To qualify for funding, companies must employ fewer than 250 employees and be located in, or planning to move to, an area with Objective 2 or “transitional” status in the East of England, click on the map to see eligible areas. This status is given to areas with greater economic deprivation and higher rates of unemployment.
The COIN Fund can only invest when an eligible company receives an arms length investment from a private investor.
COIN is able to initially invest between £25,000 and £250,000 and, if required, follow its investment with up to £250,000 of additional capital, provided at least two thirds of this investment is matched by private investors.
The COIN fund can help companies looking for investment, investors looking to invest and intermediaries whose clients are looking for finance. If you are an investor looking for proposition or an intermediary wanting more details please contact Simone Hawkins at simoneh@exemplas.com.
The COIN fund is due to be fully invested by 31st December 2008 and there is still funding available. If you think your proposition will qualify for COIN investment please contact Business Link East on 08457 17 16 15. Alternatively, for more information, visit www.investeast.co.uk.
