2. Introduction
• Trade Body launched in July 2012 , representing the angel and
early stage investment community in the UK- reflecting the range
and diversity of Angel investing
• Represent the angel community’s interests to Government-
ensure policy environment supports growth of angel investing
• Raise awareness and Promote the Asset Class - Key strategy to
Bring more women into angel investing!
• Improve data on angel investing - deals; exits; returns - new
Research Project underway for 2013 with Deloitte
• Promote standards and good practice – access to body of
experience and knowledge on angel investing ( web-site ;training)
• Creating a connected path of finance from start-up to growth
3. My Background
• Ran my own Business for 15 years helping SMEs Access Finance-
Brussels and London.
• Encountered Angel Investing in 2000 and worked with London
Business Angels
• Started working with trade body ( when British Business Angels
Association)I n 2004, managed by GLE
• Spun out a new company from GLE in 2009 - co founded Angel
Capital Group incorporating London Business Angels
• Took on role of CEO of UK Business Angels Association, new
independent company in July 2012 ( no longer Director of LBA)
• Started Investing in 2006, mainly technology, incl. health care
• Some failures! now have 6 live investments………..
4. UK Angel Market
• Angel Investing =Most significant source of finance for
growth potential early stage businesses
• Approx. £850m to £1bn invested each year by
Business Angels
• Only £300m in VC each to small businesses at early
stage ( only £40m to start-ups (BVCA 2011)
• Angel Investing = 3x VC funding for early stage
• BUT, only 5% of “known” angel investors are women!
• HOW DO WE BEAT THIS 1:20 RATIO?
5. Angel Finance Trends
• Average Angel Deal : £10k to £500k first round- but recent
deals of £1.5m +
• Most deals are now syndicated – lead angel with a group of
angels pooling skills and finance
• Angels prepared to do follow-on funding
• Angels invest along side VCs and Banks - and Crowdfunders
• Angels are prepared to wait- Patient Capital
• 5 to 8 years to Exit- and longer
• Nesta – BBAA research showed potential for IRR of 22% , but
58% of Angel deals fail! (Siding with the Angels May 2009)
6. How to Attract More Women Investors?
• Awareness and education on how to do find good deals and structure
deals -understanding the investment process
• “Golden Seeds”- The US Movement increased women investing up to
16% through a concerted programme
• Golden Seeds identified that Women need more structured
knowledge and learning than their male counterparts
• Working in Groups and syndicates- sharing deals, sharing knowledge
and due diligence; pooling skills and finance
• Opportunities to convene and share experience- peer to peer
learning
• Inspirational women investors as leaders and ambassadors
• Experienced women as Mentors
• Encouraging Women to be Lead Angels
7. Promoting Awareness of Tax Breaks
Too Risky?
•Promote awareness among women of the fantastic tax breaks
available to mitigate risks investing in early stage businesses :
• EIS (30%) investing up to £1m and CGT relief
•SEIS (50%) investing up to £100k- invest your capital gain from
2012-13=100% write off or 50% gain for 20013-14
• Loss relief if all goes wrong (20-50%)!
• New £100m Angel Co-fund, offering £100k to £1m alongside
angel syndicateswww.angelcofund.co.uk
8. Where do Women Invest?
• Tendency to assume women invest in softer/fluffy stuff!
• But many women with experience and back ground interested in
technology, including health care, clean tech, digital technologies
• eg Sherry Coutu - one of the most prolific Technology investors in the UK –
was a successful technology entrepreneur and invests in big data!:
“I became an angel shortly after floating a company I founded and having
children. As an angel investor and mom, I love working with great
entrepreneurs to solve problems that matter. I also love making the sort of
returns you will have read about in the ‘siding with angels’ report by the
BBAA. My angel portfolio has outperformed the stockmarket by a mile! “–
Sherry Coutu, CBE.
9. Attracting more Women investors
• Do Women need to invest in other women?- can provide insight
into challenge for women entrepreneurs
• Is there a case for all women network and groups?
• Golden Seeds movement uses women as leaders, but women
investing alongside male angels
• Most important is to bring women together to share common
interests- share intelligence and knowledge
• Potential for a number of women syndicates to develop with
common sectoral interests to share deals – “Women in
cleantech”; “Women in bio tech” etc.
• Angel Academe = Opportunity to bring Technology deals to
women interested in Tech and Digital media
10. What the Trade Body is doing
• UK Business Angels Association – mobilising activities to
promote women investing in 2013-14
• Identifying Women Investors to be Ambassadors
• Promoting activities and initiatives being taken to support
women investors eg Angel Academe; Astia
• Working with US “Golden Seeds” to learn from their experience
• Setting up new part of the UKBAA web-site for specific advice to
women investors (meanwhile see “Be an Angel” site with
downloadable fact sheets, and tools.
• www.ukbusinessangelsassociation.org.uk
• Help the UKBAA Research on Angel deals in 2012-13: Investor
Survey: http://bit.ly/ukangelsurvey
11. Be nominated for a UKBAA Award:
Best Female Investment of the Year!
For female-led businesses that have received angel
backing and/or backing by women investors
National Awards Event,
London Film Museum 2nd
July
www.ukbusinessangelsassociation.org.uk/awards2013
and
3rd
July, National Investment Summit, at Deloitte
