For those interested in the venture capital, particularly in the UK and investors through the Enterprise Investment Scheme, EIS, Seed Enterprise Investment Scheme, or SEIS, and Venture Capital Trusts. Guests are leading people in the industry, whether fund managers, company founders or experts from other service providers. The aim is to dig deeply into topics, getting away from the promotional material that predominates elsewhere. Venture capital investing is a long-term endeavour and we wil ...
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Angel Insights takes you deep into the world of angel investing and what makes some of the most successful angel investors tick. Join our host Tom Britton in conversations with the world's most successful investors, and some of their portfolio company entrepreneurs, to understand their investment strategy, approach to due diligence, and tips that can dramatically improve your own approach to investing. Angel Insights is created by SyndicateRoom: https://www.syndicateroom.com
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25 years of angel investing: hard-won lessons from Simon Blakey
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36:39How a biochemist turned management consultant became one of the UK's most experienced angel investors — and what new angels can learn from his journey. When Simon Blakey made his first angel investment in 2000, the startup ecosystem looked radically different. There was no AngelList, no Seed Legals, and certainly no standardised term sheets. Findin…
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The EIS Navigator host is taking a break, so there will be no episodes of the podcast. We will re-release a few episodes from the back catalogue. We'll be back in the autumn and are planning a great new series on EIS basics, so watch out for that. Have a great summer! Links Check out back episodes at https://hardmanandco.com/podcast/. Subscribe to …
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114 Comparing hardware and software investing in venture capital with Matt Jellicoe of OnePlanetCapital
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59:48While software may not eat the world, sometimes it seems like it has eaten the venture industry. However, hardware has its merits too. Climatetech investor OnePlanetCapital invests in both, so CEO Matt Jellicoe is well placed to compare them. Amongst other topics, we talk about: finding skilled teams for hardware companies building and scaling hard…
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SEIS or EIS? It shouldn’t be a question of one over the other..
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24:15On today's episode, we are joined by Aled Phillips, Co-Managing Director at Niche Private Clients, who helps us take an in-depth look at the Seed Enterprise Investment Scheme (SEIS) and Enterprise Investment Scheme (EIS), their similarities, differences, and when they might be right for your investment strategy. It's a fascinating discussion that w…
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113 Impact used to be nice to have but now it's a commercial edge with Nicky Dee of Carbon13
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57:40With climatetech being one of top areas of investor interest, it was time we checked in to see how things are. Dr Nicky Dee is co-founder and CEO of venture builder and fund manager Carbon13. With 25 years of experience in the space, she is very well placed to take a perspective beyond the here and now. Amongst other topics, we talk about how ventu…
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How Deep Blue Biotech is reprogramming bacteria to produce chemicals and eat CO2
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27:44In a world searching for sustainable alternatives to fossil fuel-derived products, Deep Blue Biotech – a graduate of climate-tech-focused fund Carbon13’s 2023 Venture Builder programme – is making waves with an innovative approach to chemical production. Using cyanobacteria – one of the most efficient photosynthetic organisms on the planet – they'r…
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112 How to grow UK venture capital and exciting news about Kin Group with Richard Hoskins
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57:29Richard Hoskins has worked in several roles in his two decades in the EIS industry. We talk about his perspective on how it has changed and what more we can do to grow UK venture capital. He also has some exciting news about his business, Kin Group, which he shares with listeners. In a wide ranging discussion we talk about: how EIS has evolved over…
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111 Why is the lack of women in venture capital still a thing with Julia Groves of Sustainable Ventures
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1:11:54We have been talking about the lack of women in venture capital for far too long. Although we have tried to add to that on the #EIS Navigator podcast, its taken several attempts to get something out. We are delighted that entrepreneur, investor and soon-to-be Investment Committee member at Sustainable Ventures, Julia Groves joins us to discuss wher…
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Moth Drinks: How a single litre of Chai Masala Old Fashioned turned into a global premium ready-to-drink brand.
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30:28In the latest episode of Angel Insights, we sat down with Rob Wallis, co-founder of Moth Drinks, a SyndicateRoom portfolio company revolutionizing the ready-to-drink (RTD) cocktail market. From humble beginnings in a home kitchen to expanding across the Atlantic, Moth has established itself as a premium brand in a rapidly growing category. Here's h…
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Methane: the super warmer gas that everyone's overlooked —and the startup turning it into clean energy
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24:48While carbon dioxide (CO2) often dominates climate discussions, methane plays a disproportionately large role in global warming. "Methane is a bit like the ugly duckling compared to CO2. It's between 28 and 84 times more potent, which means when it's in the atmosphere, it absorbs much more heat." We had the privilege of speaking with Louise Parlons…
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How Cocoon is tackling 7% of global carbon emissions
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28:44Cocoon was formed through the Carbon13 venture building programme with the desire to tackle the emissions produced by the world's second most consumed good, concrete. Eliot Brooks, CEO and Co-founder, joins us to share more about Cocoon's journey and how its product uses a byproduct of steel production to reduce emissions in concrete manufacturi…
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110 Ideas for using EIS and VCTs for tax planning with Rakesh Murria of Ascension Ventures
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1:00:50Although we generally focus on the investment aspects of EIS and VCTs, the recent budget brought a renewed spotlight onto the tax benefits. Rakesh Murria, COO of Ascension Ventures, has been looking at how the to use the reliefs in a more sophisticated way than the simple scenarios that generally get discussed. In this episode, he runs through some…
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109 Where are we in the venture capital cycle with Henry Whorwood of Beauhurst
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1:00:48In this episode, we welcome back Henry Whorwood, Head of Research & Consultancy at Beauhurst. With access to the broad data that Beauhurt collects, Henry has a great overview of trends in the venture capital market over the past couple of years and where we are now. In a wide ranging discussion we talk about: tourist venture investors whether this …
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108 All star panel discuss EIS & VCTs in 2024 and look forward to 2025
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1:12:15This episode is our usual year-end panel. An all-star group of experts get together to discuss what happened in 2024 and the prospects for 2024. This year, Christiana Stewart-Lockhart, Director General of the EIS Assocation; Kealan Doyle, CEO & Director of Symvan Capital and Ewoud Karelse, Specialist-Product at Evelyn Partners bring their knowledge…
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107 Legal dos and don'ts of EIS and VCTs with Tom Wilde of Shoosmiths
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57:07Tom Wilde helped start and now heads up the EIS and VCT tax practice at Shoosmiths. He has seen a wide range legal issues founders, companies and investors make when setting up and receiving EIS or VCT investment. He pulled together some for a recent presentation and we get him to expand on them. In a wide ranging discussion we talk about: starting…
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106 Founder finance fails and how to fix them with James Segal of Fin-house
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58:08James Segal cofounded finance-as-a-service house Fin--house and has seen the inside of many startups. His post on 24 founder fails caught my eye, so we asked him onto the podcast to discuss them in more detail. In a wide ranging discussion we talk about: scaling too quickly forgetting about accounts receivable the importance of modelling and stress…
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105 Finding the venture opportunity in the energy transition with Reuben Wilcock of Blackfinch Ventures
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57:40When an fund manager jumps into a new area, its always tempting to ask why. Blackfinch Ventures has launched a fund focussing on the energy transition, we asked Head of Ventures Reuben Wilcock back on the podcast to discuss it. In a wide ranging discussion we talk about: what the energy transition is and why he thinks its attractive how he chose th…
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James Milner, CEO of Wild Hydrogen, on Angel Insights
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39:29Join us as we speak all things Hydrogen fuel and climate-tech related with James Milner, CEO of Access portfolio company Wild Hydrogen. Learn how the hydrogen fuels industry has evolved, where it's headed, and why it's such an exciting time to be in the space.Find out more about what we do at www.syndicateroom.com Find out more about Wild Hydrogen.…
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104 How to make genuine impact venture capital investments with Gabby Morgan of Conduit Connect
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1:01:03We all have idea of what impact investing means, but how do you measure and systematise it? Conduit Connect is an impact venture capital investor and we have asked Senior Investment Manager Gabby Morgan onto to discuss this. She was hands on in developing their own impact framework and reporting so understands the issues and can talk about how Cond…
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103 What Seedrs data tells us about crowdfunding and venture investing with Jeff Lynn of Republic Europe
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1:00:55The Seedrs Portfolio Report gives an insight into how equity crowdfunding in the UK has progressed over the past decade from an idea to a firm part of the venture capital market. Jeff Lynn was a co-founder of Seedrs and has been President since its purchase by Republic. He's ideally placed to give a myriad of insights into what lies behind the data…
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102 EIS is 30! The past, present and future of the scheme with Christiana Stewart-Lockhart of the EIS Association
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54:55The Enterprise Investment Scheme (EIS) is now 30 years old! To celebrate, we asked Christiana Stewart-Lockhart, Director General of the EIS Association, onto the podcast to discuss the past, present and future of the scheme. In a wide ranging discussion we talk about: the founding of EIS the progress it has made what has made it so successful renew…
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David Hickson of Founders Factory on Angel Insights
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28:44David Hickson, part of the founding team at Founders Factory, joins us to give a bit of background on Founders Factory and why they are starting a new Pre-seed B2B SaaS programme and fund when so many others thought B2B SaaS was saturated. To find out more about the fund SyndicateRoom and Founders Factory are building please visit www.syndicateroom…
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101 Why fintech is still important in UK venture capital with Marcus Love and Adrian Love of Love Ventures
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57:37While fintech has perhaps fallen out of the spotlight in venture capital, it remains a significant part of the UK venture capital scene. It is one of Love Ventures three specialist areas, and in this episode co-founders Marcus Love and Adrian Love give their views on how the sector has developed and what matters now. In a great discussion, Marcus a…
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100 Building a venture firm, assessing founders and science-based investing with Mark Beaumont of Eos Advisory
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1:04:45Eos Advisory are rapidly building a solid reputation in science-based venture capital investing. In this episode, Partner Mark Beaumont discusses their roots, philosophy and how that translates into practice, with lots of real-life examples. In an in-depth discussion, Mark talks about: how the Eos investment philosophy developed the strengths of th…
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99 Building a medical company without a specialist background with Clare Brenner of Myogenes
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51:47In this episode of the EIS Navigator we get a great founder story. Despite not having a medical background, Clare Brenner founded Myogenes which specialises in pharmocogenetic testing. She has a very personal story about her motivation for initially focusing on mental health to begin with, as well as her experiences in starting in a new area. In th…
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98 Building environmental companies and making green investing more popular with Nick Dimmock of 350PPM
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59:52Nick Dimmock founded 350PPM as an incubator for various environmental businesses, but has followed a different path from many incubators. In this episode, he discusses how he developed the 350PPM business model, developing companies more generally and the state of environmental investing. Amongst other items, Nick discusses: how he developed 350PPM…
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97 How to master the financials to create success in SaaS with Anthony Nitsos of SaaS Gurus
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1:03:52Software-as-a-Service (SaaS) founders rightly focus on their product and market, but sound finances underpin any success. Anthony Nitsos founded fractional CFO business SaaS Gurus after working in a couple of successful exits. He has seen the inside of many SaaS businesses so has lots of experience in developing good practice and seeing the mistake…
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96 How EIS and VCTs fit in a financial plan and how to pick the right products for your clients with Rob Bell of Finova Money
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56:28How we fit EIS funds and VCTs in an advice process is something that the tax advantaged industry has got many different answers for. Rob Bell of Finova Money has been using these for clients for many years. In this episode we discuss their place in a financial plan, how he chooses between different products and investor perceptions of the industry.…
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95 How to build successful startups in manufacturing and operations with Renan Devillieres of OSS Ventures
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1:05:22Manufacturing and operations is an area that has been much neglected by venture capital, but has plenty of issues that can be address. Renan Devillieres of venture builder OSS Ventures focuses on this space, with distinct methods and successful results. In this episode we discuss how he goes about creating successful new businesses, with very good …
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94 How governance enables startup growth and how to start it well with Dermot Campbell of SEEIO
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49:40Governance is all too often seen in startup companies as a chore, or necessary evil when it can be a positive and enable success. Dermot Campbell, founder of CEEIO, is trying bring more of the latter to the venture world. In this episode, he discusses how startups can enable good governance without spending too much time on it and make it a means t…
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93 How to be a contrarian venture capital investor and making taboo investments with Will Gibbs of Octopus Ventures
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1:01:44Getting big returns in venture capital can involve stepping away from the mainstream and investing in opportunities that others won't. Will Gibbs of Octopus Ventures has a reputation for investing in areas others see as taboo. We ask him about being a contrarian investor, how to do it well and what needs to change to create a successful investment.…
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92 The state of valuations in the current market and what they mean for investors with John Glencross of Calculus
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1:00:38Valuations are always a popular topic. With much discussion about whether we are at the bottom of the current cycle, it seems a good time to revisit and we invited back someone who has experienced several market cycles: John Glencross, co-founder of Calculus Capital. We had a great discussion on how the current market, how this compares with recent…
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91 Why investing in profitable companies matters more than ever with Harry Heartfield of Edition
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1:06:41When we last spoke with Harry Heartfield of Edition, the leisure sector was all about recovering the pandemic. Fortunately, we have moved on so we thought it was time to get him back to discuss where we are now, how his investment philosophy has evolved and what the prospects for exits are now. We covered a lot areas in our discussion, including: t…
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Bonus: Venture capital indexation and how to grow the industry without increasing valuations with Richard Blakesley of Venture Cubed
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56:51Assessing companies for venture capital investment is often more of an art than a science. Richard Blakesley is trying to change that with Venture Cubed. Its rating system aims to objectively assess how investible new companies are. We asked him to talk about how they built their rating system, what it tells us about the venture industry and how it…
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90 What matters most when rating companies for venture capital investment with Richard Blakesley of Venture Cubed
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49:03Assessing companies for venture capital investment is often more of an art than a science. Richard Blakesley is trying to change that with Venture Cubed. Its rating system aims to objectively assess how investible new companies are. We asked him to talk about how they built their rating system, what it tells us about the venture industry and how it…
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89 Assessing start-up science companies and creating the right experiments with Andrea Mica of Oxford Technology
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1:12:19Investing in companies that are starting out presents different challenges from when they are more established. Oxford Technology has probably been investing in new science and technology companies for longer than than anyone else in the (S)EIS/UK VC world. We get Director Andrea Mica to discuss how to go about it. In a discussion that is full of e…
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88 An all-star panel looks back on UK VC, (S)EIS and VCTs in 2023 and forward to 2024
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1:09:32Yet again, the EIS navigator team has got its all-star panel to discuss what happened in 2023 and how 2024 is shaping up. Christiana Stewart-Lockhart, Director General of EIS Association, Neil Cole, Head of Private Markets Distribution, UBS Wealth Management, and Kealan Doyle, Director, Symvan Capital join Brian to pick through the events of the pa…
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87 How marketing data can be used when lending to growth companies with Katherine Chan of Juice
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1:00:08In this episode we take another look at debt funding for high growth companies. Juice has a novel approach using marketing data and its CEO, Katherine Chan, comes on to discuss their approach and the wider funding market. We cover a lot topics., including: why alternative funders have arisen in the market the pros and cons of using revenue based fu…
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86 Investing in consumer companies and finding out what consumers really want with Phoebe Scriven of VGC Partners
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59:04Amongst EIS funds and VCTs, consumer companies is less popular than B2B investments but still have their attractions. VGC Partners is one of the few managers that focus on this area and we get Investment Director, Phoebe Scriven to discuss it. In a fascinating discussion we cover many topics: why consumer is still attractive despite the economy how…
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85 How to invest in and grow early-stage B2B SaaS companies with Fred Soneya and Jeremy Luzinda of Haatch Ventures
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1:09:53B2B SaaS is a very popular business model amongst venture capital and (S)EIS/VCT investors. Haatch Ventures specialise in investing in this sector and we get Partner Fred Soneya and Principal Jeremy Luzinda to talk about how they work and how they help the companies scale. We look at several topics about managing these companies: what B2B SaaS is a…
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84 How the macroeconomy affects venture capital investments with Ewan MacKinnon of Maven
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1:01:56While there is much discussion in the media of the macro-economy, its effect on startups is not always a obvious as it is for quoted companies. Ewan MacKinnon, a Partner at Maven, has been investing for almost a decade and half and draws on this experience to give us some insights. In the discussion we focus on three big areas: recruitment and wage…
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83 Avoiding startup failure, getting boards working well, work/life balance, fintech and much more with Elliot Limb of Cubed
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1:02:34Elliot Limb is co-founder and CEO of Cubed and spends his days supporting fintech companies scale. Having worked with many startups, he has a broad insight into their challenges and difficulties. He also has some strong views, which makes for a very interesting discussion! We covered a huge number of areas, including: - why fintech has a long way t…
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82 British Business Bank CEO Louis Taylor on the UK funding market and addressing market failures
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57:39Since its founding eight years ago, British Business Bank has established itself as an important participant in the funding markets for UK SMEs and startups. In this episode, its CEO Louis Taylor tells us what it is doing and how it is going about it. We start by discussing how the Bank fits into the UK ecosystem. Louis discusses the bank's mandate…
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81 Why investor concerns over hardware are overblown with Damon Bonser of British Design Fund
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54:53Hardware startups have often struggled to get funding, but Damon Bonser of British Design Fund is trying to change that. In this episode, he talks about his experiences and how hardware can be more attractive than many investors think. The first half of our discussion focusses on how companies can mitigate risk. Damon discusses how he avoids invest…
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80 A VC perspective on AI's impact on startups with James Pringle of Portfolio Ventures
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1:10:23Anyone with a passing interest in technology or venture capital cannot have missed the rapid increase in interest in AI over the past few months. We are overdue talking about it on the podcast, so we got an expert in James Pringle. He used AI as a founder and it now impacts how he invests so he is the ideal guest to discuss the topic. We start off …
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79 The anatomy of busts: comparing the VC market across three cycles with Kealan Doyle of Symvan Capital
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1:10:25When planning this episode with Kealan Doyle of Symvan Capital, he told a story about a venture capital conference where the compere asked who had been through a downturn before and nobody raised their hands. So we decided to discuss the last couple of venture capital cycles and how previous downturns compare with the current one. We also talk abou…
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78B Investor confidence and ESG: how the new disclosure rules will drive responsibility with Lee Coates of ESG Accord
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44:18There have been two recent changes that will affect how ESG is applied in practice by fund managers, advisers and, most importantly, investors. Lee Coates of ESG Accord has been advising on ethical investment for three decades, runs a consultancy to help others implement ESG and and is on a relevant FCA committee. We had such a great discussion tha…
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78A How ESG rule changes will make investors happier with Lee Coates of ESG Accord
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43:06There have been two recent changes that will affect how ESG is applied in practice to fund managers, advisers and, most importantly, investors. Lee Coates of ESG Accord has been advising on ethical investment for three decades, runs a consultancy to help others implement ESG and and is on a relevant FCA committee. We had such a great discussion tha…
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77 Life sciences is not just drugs with Savvas Neophytou and Ben Carter of Deepbridge
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1:01:48Healthcare is a large industry and is a lot more than just drugs. We have two experts, Savvas Neophytou and Ben Carter of Deepbridge, to discuss the industry and how there is a lot of other life science areas that are attractive to venture capital investors. We talk a lot about devices. We discuss the challenges and benefits of investing in hardwar…
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76 How venture debt works with David Hayers of Hambro Perks
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1:02:27Venture debt is a niche within the venture capital market that has been growing in importance. In this episode we get David Hayers, who is Head of Venture Debt at Hambro Perks, to explain what venture debt is and how it works. We start off by going through the basics. David talks about what types of companies venture debt is suitable for, what they…
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