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London Co-Investment Fund (LCIF)

What is the LCIF?

The LCIF is an £85m public-private venture capital fund. It allows us to invest in some of London's most innovative science, digital and technology start-ups.

The LCIF is:

  • funded by the Mayor of London and the London Enterprise Panel (LEP)
  • managed and run by Funding London, on behalf of the Mayor of London and the LEP

To be eligible for funding, startups must:

  • provide a product or service within science, technology or the digital sectors
  • fundraise between £250,000 and £1m
  • have a London based office  

Video: how does the London Co-Investment Fund work?

London Co-Investment Fund facts

  • 106
    investments
    (as at 30 June 2017)
  • 88
    companies backed
    (as at 30 June 2017)
  • 600
    jobs created
    (as at 30 June 2017)
  • 280
    jobs safeguarded
    (as at 30 June 2017)

A selection of companies which have received investment:

Step Jockey

Step Jockey is an innovative way of getting office workers active by allowing them to track their calorie burn via their smartphones.  Step Jockey links together perfectly with what the Mayor is achieving in the health sector.  The Mayor's healthy workplace scheme is designed to encourage businesses to improve their staff's health and well-being by encouraging them to become more active. 

Step Jockey has created 8 jobs and safeguarded 4 jobs.

https://www.stepjockey.com/

Powervault

Powervault is the UK's first fully integrated home energy storage system which stores energy throughout the day to then be released in the evening usual household demand for electricity peaks. The Mayor, Sadiq Khan, has plans to revive London's clean energy sector, making PowerVault a more prominent investment.  Powervault offers a new way in which energy can be reused and gives Londoners that option. 

Powervault has created 6 jobs and safeguarded 2 jobs.

http://www.powervault.co.uk/

The Mayor of London’s involvement in LCIF

As of June 2017, the Mayor of London has contributed £25m towards this fund.

We've partnered with some of London’s most successful venture capital firms, angel investors and crowdfunding platforms to access private sector knowledge, advice, skills, contacts and additional investment.

The Mayor maintains an equity stake in these young companies and helps them with legal, procurement, supply chain and marketing challenges.

This enables many of them to grow significantly larger and more successful, contributing new jobs and wealth to London's economy.