We are searching for great technology ventures in need of early-stage funding, with the following criteria.
A team of at least two. Sole founders find it difficult to get investment (try the FFF route if you are a sole founder)
Fairly deep or deep technology. We almost never invest in web or mobile apps, nor service businesses
Evidence of a large market, globally at least $100M annually
High-growth ambitions. This is essential
Some level of defensibility, whether it is a patent application, know-how or, possibly, speed to market,
Usually software, electronics, engineering, telecoms, sensing, medtech. Look through our portfolio to get a feel for our comfort zone
Business model: B2B.
Early stage, including pre-revenue and pre-grant income
Pre-money valuation preferably under £2M (unless exceptional)
Like most Angels, we look for a minimum 10X valuation increase within 4 to 7 years, so if you are asking for, say, £1M post-investment valuation, what does your company look like? Who will buy it for £10+M in a few years?
We and other members of the syndicate expect to add value with connections, advice, governance and future funding
So far (40+ investments), we haven't invested outside the UK, and very rarely outside Cambridge, London and Oxford, for which we apologise, but being close to opportunities, and post-investment, being close to deals significantly simplifies DD and assistance