https://techcrunch.com/2022/08/11/a-new-institutional-angel-fund-is-an-example-of-the-uks-continuing-ability-to-innovate-in-venture/ > The UK’s Enterprise Investment Scheme has been a power-house for startups out of the UK because it allowed Angel investors to invest in a very tax-efficient manner. > Launched in 1994, it was designed to encourage investments in small unquoted companies. As Wikipedia will tell you, by end of the 2014-15 tax year, a cumulative total of £14.2 billion had been invested under the scheme into approximately 25,000 companies, for example.