DreamStake

HackFwd The UK Angel Scene: An active angel speaks up Permjot Valia (@permjotvalia) is a prolific angel investor and in 2008 co-founded Flight & Partners. Here he talks about his frustrations with the UK Angel investor scene, especially the anti-entrepreneur ‘pay-to-pitch’ culture. In 2008/09, £44.9m was invested by UK Business Angels registered to Angel Networks in UK based companies. I have invested in 20 companies in the UK over the last six years, and three companies in Canada as a Business Angel. In North America, most Angel groups are run by Angels (whom for the most part have been successful entrepreneurs) for Angels. For example, when looking to raise money through a recognized angel network, an entrepreneur will have to part with a sum of money ranging from £500 to £5,000 and in many cases 5% of funds raised and some will ask for amongst other things options in the business and ‘compliance fees’. This can work out as a very expensive proposition. My experience at Seedcamp, altered this view somewhat.

The Resource for Entrepreneurs.