Angel Insights | Your guide to angel investing
By Angel Insights
Angel Insights is created by SyndicateRoom:
www.syndicateroom.com
Angel Insights | Your guide to angel investingSep 23, 2015
Hannah Leach and why so many investors get ESG wrong.
Hannah Leach, Partner at Houghton Street Ventures & Co-founder at VentureESG, joins us on this exciting episode of Angel Insights where we delve into ESG and what it really boils down to when it comes to startups and Venture Capital.
In this episode we look beyond the products and services being built to the supply chains, hiring processes, and a whole lot more.
As always, if you'd like to learn more about our fund you can read here about Access EIS and if you'd like more on the tax reliefs offered you can read hear about the Enterprise Investment Scheme.
How to review and choose an EIS fund with Dr. Brian Moretta of Hardman & Co
We had the opportunity to sit down and chat with the incredible Dr. Brian Moretta of Hardman & Co.
Brian is a quant by nature, a former fund manager by past, and a fund analyst and reviewer at present. Not to mention, in his spare time, Brian is a professor at the prestigious Heriot-Watt University.
Brian spends his days picking apart funds (EIS and VCTs) and creating the reports used by wealth advisors and IFAs so it was a privilege to get his take on how to approach reviewing a fund.
Whether you are a first-time EIS fund investor or a seasoned pro, Brian has some great insights to share with you.
From a Magic Pony to Angel Investing with Zehan Wang
What does one do with a PhD in visual processing? Naturally, one would join the entrepreneur first accelerator, launch a machine learning-based visual processing business, sell it to twitter, then work one's way up the Twitter hierarchy before retiring around 30. Then one would turn one's hand to angel investing.
Don't believe me? Listen in to today's guest Zehan Wang as he recounts his tales and all of the lessons he learned along the way which he now applies to his angel investing.
New to angel investing? Check out our guide and learn how to invest in startups.
Addie Pinkster lessons from the city to angel investing
Addie Pinkster is the Founder and Chief Executive of Adelpha, a female-led corporate financial advisor and leading investment network, that specialises in high-quality, fast-growth, UK-focused companies. Prior to that, she spent 15 years in investment banking, most recently as Head of Hedge Fund Strategy at Citi. She is also a NED, and a growth & tech investor.
I got to speak to Addie about her experiences in finance, what matters to her when it comes to choosing companies for investment, and what investors should consider before deciding to invest. It's a great episode and we're delighted to have co-invested with Addie and her team with our Access EIS fund.
Andy Ayim MBE chats Angel Investing and Purpose
Andy Ayim MBE joins us on Angel Insights to discuss all things angel investing and how he finds time to balance family, work, and purpose. From product manager to entrepreneur, to angel investor, and opening his own angel investing school, Andy is on a mission to make the angel investing pool as diverse as the entrepreneurs starting companies. Andy's journey is filled with drive, self-discovery and a number of insights he shares with us in the episode. Always learning, authentic, humble, and a force of nature for good, if you'd like to learn more about Andy do follow him on Twitter, you will not be disappointed by the knowledge he imparts.
More from SyndicateRoom
Srin Madipalli - Lessons from selling Accomable to Airbnb
From Moonpig.com to Dragon's Den, Nick Jenkins talks angel investing
Matt Lerner - Successful companies do things differently
Mac Conwell on what drives Rarebreed Ventures
Sarah Turner on the importance of bringing more women into angel investing
The parallels between Molecular Marine Biology and Angel Investing
Peter Cowley on angel investing and the importance of being coachable
Backing diverse founders with Denzel Walters
Investing in Cleantech with Caroline Halliday
Angel investing lessons learned with Kirsten Connell
Angel investing lessons learned with Simon Thorpe
Angel investing lessons learned with Chris Mairs CBE
We had the chance to sit down with Chris and discuss his incredible experience in both his professional life and angel investing.
In Today’s Episode You Will Learn:
1) The angel investing trends we should look for in 2021
2) Is there appetite for UK startup from external investors?
3) The difference between working with UK/US tech companies
4) The biggest lessons learnt from having a large portfolio
As always, you can learn more about SyndicateRoom here:
www.syndicateroom.com
Angel Investing Lessons Learned with Ros Singleton
In Today’s Episode You Will Learn:
1) How to transition into angel investing
2) Should you always invest in what you know?
3) The red flags to look out for when considering an investment
4) How is Covid-19 affecting the investing space?
As always, you can learn more about SyndicateRoom here:
www.syndicateroom.com
What Is The Difference Between An Institutional Angel Fund & An Angel Network?
In Today’s Show We Discuss:
How did Gale make her way into the angel ecosystem?
What are the fundamental differences between an institutionalised angel fund and a more casual network of angel investors?
What are the most common and biggest mistakes Gale sees when it comes to founders approaching the fundraising process?
What advice does Gale give most often to new angels to the ecosystem?
How do Gale’s return expectations differ from the likes of larger more instituional funds?
Learn more about SyndicateRoom: www.syndicateroom.com
What Happens If The Valuation Is Too High At Angel Stage with Jonathan Hakakian
In Today’s Show We Discuss:
How did Jonathan make his way into the angel ecosystem?
What is Jonathan’s approach to valuation and ownership at such an
early stage? What level of ownership is required to generate the desired Alpha?
What is Jonathan’s return expectations? How does this differ from sector to sector? How does this differ from the $Bn return expectations of large VCs?
How does Jonathan approach team formation? What does he look for in early stage founders and their team?
What Jonathan looks for in his co-investors? What gives him confidence? What makes him nervous?
Learn more about SyndicateRoom: www.syndicateroom.com
The Core Components To Build A Startup Ecosystem with Deb Kemper @ Golden Seeds
How Angels Can Ensure Their Voice Is Heard with Nick Lyth @ Green Angels Syndicate
In Today’s Show We Discuss:
How did Nick make his way into the angel ecosystem?
Why have we seen such a lack of investment in the energy space from the perspective of angels and VCs? What are the inherent investment barriers that need to be overcome?
How has the onboarding process been for Nick in entering the angel environment? What was the biggest shock to Nick in the investment world?
How does Nick ensure that his voice is heard as an angel? What makes a good board member and non-exec director?
What advice would Nick give to other angels starting out in the ecosystem? What should they look to learn and what should they try and avoid?
Learn more about SyndicateRoom: www.syndicateroom.com
How To Make The Successful Transition From Operator To Investor with Thatcher Bell
In Today’s Show We Discuss:
How did Thatcher make his way into the angel ecosystem?
What were Thatcher’s biggest takeaways from his operational experience? How does that lend to his investment role?
Do all investors need to have operational experience? What is required to make the transition from operator to angel?
How does Thatcher look to split his time between portfolio companies? Where does he spend the majority of his time?
When an investment is not working, how does Thatcher convey that to the entrepreneur? What does the feedback process look like?
Learn more about SyndicateRoom: www.syndicateroom.com
Why Having A Flexible Cheque Size Can Help In Early Stage with Meghan Cross @ Red Bear Angels
How To Establish Pattern Recognition Entering Investing with Elizabeth Galbut @ SoGal Ventures
How To Harness An Early Angel Ecosystem with Jon Lerner, Managing Director @ Smedvig Capital
In Today’s Show We Discuss:
What angels really look for in VC partners?
What are the most common elements of contention and disagreement between angels and later stage VCs?
How does Jonathan look to harness the early angel ecosystem to provide him with a strong incoming quality of dealflow?
How does Jon approach valuation and ownership? Does he adopt the Sheryl Sandberg approach of it does not matter where you sit as long as you have a seat on the rocketship?
What would Jon like to see more of in the early stage angel ecosystem in London?
Learn more about SyndicateRoom: www.syndicateroom.com
Why Ideas Are Worthless & It Is All About Execution with Simon Bichara
In Today’s Show We Discuss:
How did Simon’s financial background lend to his role now as an angel?
What elements of a founding team gives Simon confidence?
How does Simon view of the maturation of the early stage investing environment?
Is all money good money? In what cases is dumb money a problem?
How does Simon analyse the current levels of valuation? How does Simon determine valuation at the earliest of stages with no measurable data?
Learn more about SyndicateRoom: www.syndicateroom.com
What Do Investors Want To See In An Investment Opportunity with Fran O'Brien
Today We Discuss:
What is Fran’s preference on founders? Single or co-founder?
How big does a market have to be for it to be an investable proposition?
Does this vary if you are an angel as opposed to a VC?
Is too much dumb money a bad thing for the ecosystem? How can founders optimise for this and avoid potential pitfalls?
What do investors in the platform most like to see in an investment proposition?
What would Fran most like to see change in the early stage funding environment in the UK?
Learn more about SyndicateRoom: www.syndicateroom.com
The Ultimate Investor Resource Kit (Series Highlights)
Discussed In The Show Today:
1.) What is Tim Mills (British Business Bank) morning daily read?
2.) Who does John Spindler (London Co-Investment Fund and Capital Enterprise) say are must follows on Twitter and why?
3.) What does Collette Ballou (Ballou PR) feel are the main benefits of reading fiction? What are here favourites?
4.) What is Tom Britton (Syndicate Room) must read?
Learn more about SyndicateRoom: www.syndicateroom.com
The Ultimate Guide On How To Become An Angel Investor (Series Highlights)
Discussed In The Show Today:
1.) How Tim Mills came into the industry from the world of banking and came to be at The British Business Bank?
2.) What was John Spindler’s start in the angel investing industry and what is his route to where he is today with the London Co-Investment Fund and Capital Enterprise?
3.) How did Dominic Wilson make the transition from the world of property to the world of property tech investing, now being Managing Director @ Pi Labs.
4.) Every startup founder needs a mentor, so when did Jonathan Pfahl appreciate the importance of mentors and being the founding of Rockstar Mentoring?
5.) Like mentoring, all startups need fantastic PR. So how did Colette Ballou, make her way into the world of angel investing from founding one of Europe’s leading startup PR agencies in Ballou PR?
6.) David Rose is a serial entrepreneur, prolific angel investor, Ted Speaker and multiple author, but how did he first become an angel investor?
7.) An appropriate finish, what is the founding story of Syndicate Room from Tom Britton and what was it about the space that made Tom so excited?
Learn more about SyndicateRoom: www.syndicateroom.com
Investing Is All About Brand with Colette Ballou, Founder & President @ Ballou PR
In Today’s Episode with Colette we discuss:
1.) How did Collette make her way into the world of angel investing?
2.) In the proliferation of content for marketing, is a contrarian approach the right way to go for cutting through the noise?
3.) What does Colette make of the increasing personalisation of VCs and angels?
4.) How can investors balance their own personal brand with the brand of their fund?
5.) What does Colette make of the rise of Twitter? To what extent should it be used as a marketing tool? How does Colette react to tweet storms?
Learn more about SyndicateRoom: www.syndicateroom.com
and see Colette's twitter here: www.twitter.com/coletteballou
The Maturation of The Seed Funding Environment with Dominic Wilson @ Pi Labs
Today We Discuss:
How Dominic made his way into the world of early stage investments?
What are the pros and cons of operating in a largely antiquated incumbent heavy industry?
How does Dominic view the early stage angel network in London? How does he look to work with them?
With the rise of tax reliefs, this has spurned many more angels, is this money ‘dumb money’? If so, is all dumb money bad for the ecosystem?
How does Dominic view the wider macro economic effects of Brexit?
What does he predict for both the macro-economy and the wider economy?
As always, you can learn more about SyndicateRoom here: www.syndicateroom.com
and see Dominic's twitter page here: www.twitter.com/Dom7Wilson
Taking A Data Driven Approach To Founder Evaluation with Paul Arnold @ Switch Ventures
What Is A Reasonable IRR For Angel Investors with Tim Mills @ British Business Bank
In Today's Episode You Will Learn:
1.) How Tim made his way into he world of tech and investing?
2.) How Tim has applied his learnings from investing in funds to investing in startups?
3.) What does Tim look for in co-investors? What are the optimal traits that Tim assesses?
4.) How has Tim seen the early stage investing ecosystem evolve and develop over the last 10 years?
5.) What is the English tech environment doing well at and what does it need to improve on?
As always, you can learn more about SyndicateRoom here: www.syndicateroom.com
The Benefits of Mentoring & Why You Should Have One with Jonathan Pfahl @ Rockstar Mentoring
In Today's Show We Discuss:
1.) How Jonathan came to found Rockstar?
2.) Why we should care about mentoring? Is it not just another buzzword? What are the tangible benefits?
3.) Why is it imperative to pay your mentor? Why does this create the incentive in the mentored to pursue the activity with passion and rigour?
4.) What are the important things to remember when starting the process of being mentored? Why is it so important to be goal and data driven from the offset?
5.) How should individuals view the mentor personality fit? What should they look for and what should they be wary of?
As always, you can learn more about SyndicateRoom here: www.syndicateroom.com
How Will Brexit affect London's Tech & Investment Scene with John Spindler @ Capital Enterprise
Today We Discuss:
1.) How John made his way into he world of early stage tech investing?
2.) What does it take to establish a culture of entrepreneurialism and innovation? What comes first, startups or funding?
3.) What further challenges does London face to become the central hub for tech? What can be done to further the progress made in the last few years?
4.) How will Brexit affect the London tech and investing scene? Why is John concerned about the potential of Brexit?
5.) What is the roadmap for John with the London co-investment fund? What is John looking for in potential investments? How has his approach to pattern recognition altered over the last few years?
As always, you can learn more about SyndicateRoom here: www.syndicateroom.com
and John's twitter page here: www.twitter.com/capenterprise
'We specialise in product': The Benefits of Specialisation with Katie Leviten @ Jamjar Investments
As always, you can learn more about SyndicateRoom here: www.syndicateroom.com
Henry Joseph Grant on Lessons From Watching JustEAT Scale & Applying That To Angel Investing
In Today's Episode You Will Learn:
1.) How Henry made his way into the world of Tech and what made Henry want to start angel investing?
2.) What were the main lessons for Henry in watching JustEat scale into hyper growth mode? What did they do right and what did they do wrong?
3.) When comparing Henry's angel investing strategy with other angels in the ecosystem, how does his differ? What does Henry make of hyper aggressive super angels?
4.) How has his time in operations equipped him with the perfect skills to be the strategic advisor to startups? Where do startups most need his help?
Items Mentioned In Today's Show:
Henry's Fave Blog: TechCrunch: Steve O'Hear (http://techcrunch.com/author/steve-ohear/)
Henry's Most Recent Investment: Splittable (https://www.splittable.co)
As always, you can learn more about SyndicateRoom here: www.syndicateroom.com
and see Henry's twitter page here: www.twitter.com/speirin
Syndicate Room's Tom Britton on What Makes A Business Right For Crowdfunding?
Impact Investing and LP Returns Are Not Mutually Exclusive with Orson Stadler @mustardseed
Discussed Today:
1.) How Orson came to be an investor in early stage social impact startups?
2.) Why is there so much skepticism towards the ability for both impact investing and LP returns? How does Orson respond to this?
3.) What needs to change in the public's perception of impact investing? How has crowdfunding affected both the seed and impact investing scene?
4.) How mustardseed look to measure the impact their companies are making? What are the metrics that suggest success?
5.) Where does Orson believe the next wave of impact investing will take place?
Items Mentioned:
Fave Investing Resource: Crowdsurfer
Most Recent Investment: Beulah London (https://www.syndicateroom.com/beulah?tab=0#deal)
As always, you can learn more about SyndicateRoom here: www.syndicateroom.com
and see Orson's twitter page here: www.twitter.com/orson_stadler
The Importance Of Founder/Market Fit with Avin Rabheru, Founder & CEO @ HouseKeep
In Today's Episode You Will Discover:
1.) How did Avin make his way into the world of startup investing? How did Avin’s mindset alter when comparing his angel investments to his VC investments?
2.) How does Avin decide his capital allocation profile? Does he set aside an initial pool of capital and have a set investment range and set portfolio size he is looking to achieve?
3.) How does Avin look to differentiate himself in the ever increasing angel market? What is the value add? Is the brand important for Avin?
4.) How does Avin go about sourcing companies to invest in? Is Avin a hunter? A referrer? What has Avin found to be the optimal process for deal sourcing?
5.) How does Avin approach the due diligence process of the deal? How does Avin look to deep dive into companies and their teams? Founder evaluation is probably the most important skill an angel can have, how does Avin approach this and how has Avin honed this with time?
6.) What are the biggest mistakes and challenges that Avin has made and faced? How did he combat them and learn from them? How did they influence his thesis?
As always, you can learn more about SyndicateRoom here: www.syndicateroom.com
and see Avin's latest tweets here: www.twitter.com/AvinRabheru
How To Spot The 1 Out Of 100 Who Is A Born Entrepreneur with David Rose @ Gust
World Beating Investors Are Just Round The Corner With David Barrie & Deepali Nangia
Investing Lessons From Sequoia and The Importance of Machine Learning with Chris Mairs
In Today’s Episode You Will Learn:
1. How Chris made his way into the world of tech and then later angel investing?
2. What were the lessons that Chris took from his communications with Sequoia and Jim Goetz, that he has applied to his angel investing thesis?
3. Which element of the Metaswitch journey was Chris favourite time of the experience to work in?
4. How was the scaling process for Chris and Metaswitch in terms of hiring and maintaining the Metaswitch company culture?
5. Does Chris apply the same educational focussed hiring strategy to his founder assessment approach when he is angel investing? What does Chris look for in the founders he backs?
Items Mentioned Today:
Chris' Investments: MagicPony, Adbrain, Tractable
As always, you can learn more about SyndicateRoom here:
www.syndicateroom.com
and see Chris' latest tweets here: www.twitter.com/Chris_mairs
Simon Thorpe On The Ups And Downs Of Startup Investing
Simon is also a member of Cambridge Capital Group (CCG) and Angel Academe (a predominately female network), where he is on the advisory board. He participates as a mentor for the University of Manchester, Cambridge Judge Business School's Accelerate Cambridge programme and Angel Academe's female entrepreneur programme.
In Today’s Episode We Dive Into:
1.) How Simon made his entry into the investing world? What was it that attracted him to the world of startup investments?
2.) With 4 exits in the last 12 months, how has this affected you mindset to investing? What have been the commonalities when looking at those investments?
3.) At what point can an angel decide not to follow on in a round without providing a negative signaling function? Does it matter if you are the cornerstone investor?
4.) On the flip side of the 4 exits, what has been the most common reason Simon has seen startups fail? What attributes lead to a startup not reaching their potential?
5.) Where do Simon lie on the relationship between growth and revenue? Is revenue always required or can the sole aim of a company be growth? When does a company have to start considering monetisation?
Action Points for Today:
Fave blog or newsletter: Ben Evans
As always, you can learn more about SyndicateRoom here:
www.syndicateroom.com
and see Simon's latest tweets here:
www.twitter.com/thorpesi
Investing For The Long Term with Russ Shaw, Founder @ Tech London Advocates
How Angels Can Use Social Media To Increase Deal Flow With Jonathan Struhl @ Indicator Ventures
In Today’s Episode We Discuss:
1.) How Jon made his way into the world of early stage investing?
2.) What does the Jonathan make of the evolution of social with the rise of the mobile? What does Jonathan think will be the platform for social in the future?
3.) How can angels use social media to assert their presence and thought leadership in an industry?
4.) How can angels bridge the divide of being a thought leader in one industry without losing the deal flow from another?
5.) How can angels build better relationships with current portfolio company founders through different social platforms? Does taking the conversation off email make the relationship deeper?
6.) Tell us about a war story, can you give us a little detail on an investment that went awry, what went wrong and how you changed your style as a result
Shopping Basket For The Show Today:
Favourite investing blog or newsletter: Launch, Strictly VC
Most recent investment: Wade and Wendy
As always, you can learn more about SyndicateRoom here:
www.syndicateroom.com
and see Jonathan's latest tweets here:
www.twitter.com/Struhl
The Importance Of Finding That Founder High with Nancy Fechnay @ Flight Ventures
What Working At Skype Taught Me About Angel Investing With Ruzbeh Bacha, Founder & CEO @ CityFalcon
In Today’s Episode You Will Learn:
1.) How Ruzbeh made his entrance into the world of startups and investing?
2.) What were the biggest takeaways from working at Skype and how Ruzbeh has applied them to his role at CityFalcon?
3.) What were the hardest elements of starting and then building CityFalcon? What are Ruzbeh’s thoughts on the progression of London’s ecosystem as a fintech hub? Where are we doing well? How could we improve?
4.) What made Ruzbeh want to make the move into the investing world? How has his operational background impacted your investing perspective?
5.) What was the most challenging aspect about making the foray into the world of angel investing? How did Ruzbeh attempt to develop some form of pattern recognition when starting out investing?
6.) How has Ruzbeh honed his investment decision making process over time?
Items Mentioned In Today’s Episode:
Favourite blog or newsletter: Linkedin NewsFeed
Most recent investment: Lobster Media
As always, you can learn more about SyndicateRoom here:
www.syndicateroom.com
and see Ruzbeth's latest tweets here:
www.twitter.com/ruzbehb
What To Look For In Early Stage Consumer Startups with Sara Thomas, Principal @ Maven Ventures
In Today’s Episode You Will Learn:
1.) How Sara made her way into the world of tech and investing?
2.) What does Sara believe is the most important value add to startups and portfolio companies? How can investors differentiate themselves from fellow angels?
3.) What does Sara make of the importance of startups for being located in a tech hub? Does it really matter? What are the disadvantages, what are the advantages? How does it affect startup valuations?
4.) What are the determinants of a successful incubator? How can incubators differentiate themselves in the sea of incubators on the west coast?
5.) How can entrepreneurs learn to not get confused and disheartened by the famous investor whiplash? Is it right to hear feedback and not react to it?
6.) What does Sara believe is the optimal way for angels and incubators to act? How can angels get the most from the accelerator process?
7.) What Sara make of Sam Altman’s famous incubator hopping essay, where do Maven stand with regards to multiple accelerator startups?
Items Mentioned In Today’s Show:
Fave book and why: The Alchemist
Fave Blog or Newsletter: Mattermark Daily
Most recent investment and why you said yes: HomeMade
As always, you can learn more about SyndicateRoom here:
www.syndicateroom.com
and see Sara's latest tweets here:
www.twitter.com/saraannet