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Bethnal Green Ventures raises $1.6 million to accelerate UK startups

Bethnal Green Ventures has raised $1.6 million to accelerate UK startups.

The London accelerator supports very early ventures tackling challenges in health, education, sustainability and democracy, as well as startups serving freelancers and low-wage workers.

BGV has invested £1.4 million ($1.73 million) in more than 80 startups since 2012. As a whole, the group has raised more than £23 million ($28 million) and serves 6.5 million customers (56 of the companies are still active).

BGV raised £1.3 million ($1.6 million) from Big Society Capital, Nominet Trust and Nesta to develop investment products, including a fund for program graduates.

In exchange for a six percent stake, BGV provides from £20,000 ($25,000) to £50,000 ($62,000), a 12-week business development program and co-working space in London.

This post originally appeared in ImpactAlpha’s daily newsletter. Get The Brief.

Photo credit: BGV

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