Nov 23, 2020
This post is one of a series of Venture Capital Insights focussed on structuring seed-stage equity investments. Next up is to consider the investor’s attitude to yield, particularly why some venture stage investors build in a requirement for a dividend stream and why,... 
Nov 23, 2020
We first met Nick Woodrow as a potential investor in late 2019 following him achieving an exit and leaving executive life to focus on non-exec work and investing. Nick has participated in our three EIS investments since (soon to be four) and works closely with us as... 
Nov 10, 2020
This is our fifth post in a series of VC Insights focussed on valuations. We’ve looked at valuing a business, adjusting for debt and options, and in our last post we even tried untangling a bundled debt-and-equity structure. Next challenge – how do you assess an... 
Oct 28, 2020
We’ve been running a brief series of VC Insights focussed on valuations. So far, we’ve covered an approach to valuing the business itself. We’ve then adjusted for loans, options and other claims to end up with the equity valuation, which drives what percentage the... 
Sep 30, 2020
… and why you won’t get your loan back (probably). Venture-stage companies are fundamentally risky. It’s tempting for the investor, looking for ways to reduce their risk and improve their returns, to invest a loan rather than share capital. This post explores how that... 
Sep 21, 2020
One of the most important and emotive issues facing a venture-stage investor is whether to double-down on an existing investment. This post examines how to prepare for a follow-on, and the issues for an angel investor to consider when deciding whether and how to... 