×

Register now -

Upcoming event | Hardman Talks: Everything you wanted to know about private equity but were afraid to ask!

The EIS Navigator Podcast

Our fortnightly podcast following the UK venture capital industry. Dr Brian Moretta explores small growth companies, as well as the funds and people who invest in them.

The EIS Navigator podcast is for those interested in the UK venture capital industry, particularly the areas that are supported by government schemes. These include the Enterprise Investment Scheme, EIS, Seed Enterprise Investment Scheme, or SEIS, and Venture Capital Trusts. This means we are looking at small, growth companies – often at the startup stage.

We interview 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 will focus on topics that are relevant at any time.

Subscribe and listen now

Quickly and easily listen to The EIS Navigator in your podcast app of choice, including Spotify and Apple Podcasts.

Subscribe and listen now

The EIS Navigator Episodes

New episodes are released every second Tuesday at 7:00am.

Subscribe Now
Podcast Tax Enhanced

39: Moving the EIS and VCT industry from tax efficiency to venture capital with benefits | Brian Moretta of Hardman & Co

Andrew Aldridge steps into the host seat to discuss Brian Moretta’s recently published White Paper on how venture capital fits into retail investor portfolios, with some surprising results.

Podcast Tax Enhanced

38: Why ESG isn’t making the right difference and what will fix it | Matt Jellicoe of OnePlanetCapital

We discuss the difference between ESG and genuine impact investments and how this is leaving advisers and investors somewhat confused.

Podcast Tax Enhanced

37: State of seed investing | Stephen Page of SFC Capital

Stephen Page discusses the rather worrying trends in the SFC Capital and Beauhurst report about the seed investing market.

Podcast Tax Enhanced

36: Buying Mobeus and the state of the VCT market | Bevan Duncan, Managing Director, Strategic Equity at Gresham House (Baronsmead)

Bevan Duncan returns to the podcast to discuss the deal and its rationale. We also discuss how the new company will operate, what opportunities it may bring and chat about investor demand.

Podcast Tax Enhanced

35: Why fintech is still fun for investors | James Pringle of Pringle Capital/Goldsmith Ventures

Fintech has been a hot VC area for some time and for this episode we turn to James Pringle, a former entrepreneur-turned-fund manager, who specialises in fintech investing.

Podcast Tax Enhanced

34: Investing in early-stage science companies | Lucius Cary of Oxford Technology

Lucius Cary first raised money for a small restaurant chain in the late 1970s. The difficulties of doing that inspired him to start a newsletter connecting start-ups and investors. Four decades later, he is on the seventh iteration of his fund.

Podcast Tax Enhanced

33: A long-term perspective on EIS and VCT investing | John Glencross of Calculus Capital

A long-term perspective on how the market and the Calculus investment process has changed over time.

Podcast Tax Enhanced

32: Building a second multi-million-pound exit and lessons learnt | Scott Weavers-Wright of Haatch Ventures

Scott Weavers-Wright is a serial entrepreneur. When we had him on last year, we only managed to discuss one of his first exits so we had to get him back for more.

Podcast Tax Enhanced

31: How legals can solve investor and founder problems | Anthony Rose of SeedLegals

Investors and founders all too often see legals as a necessary evil. SeedLegals is changing that, thinking about how to get better solutions for all parties.

Podcast Tax Enhanced

30: What to look for when video game investing | Steve Iles of Origin Venture Partners

Video gaming is a huge market, but relatively niche within EIS. Steve Iles has spent his whole career working in and helping the video games industry and his current focus is at the intersection with funding.

Podcast Tax Enhanced

Bonus episode: EIS and VCT fees & reporting | Stephen Jones of Clear Solutions Wealth & Tax Management

This is the second part of a really good discussion split over two episodes, where Stephen goes into detail about EIS and VCT product selection.

Podcast Tax Enhanced

29: An advisor’s perspective on making EIS and VCT investments | Stephen Jones of Clear Solutions Wealth & Tax Management

EIS and VCTs have been described by several guests as one of finance’s best kept secrets, which makes the job of advisers challenging when they recommend them.

Podcast Tax Enhanced

28: When and how startups should expand overseas | Tofiq Qureshi of Innvotec

International expansion is key to success for many startups, but also fraught with difficulties. We discuss timing, local partners, and overcoming language barriers.

Podcast Tax Enhanced

27: Angel investing | Kirsten Connell, angel investor

We’ve touched on angel investing several times on the podcast, so it was time we got a business angel on.

Podcast Tax Enhanced

26: Developing sales and processes in B2B SaaS | Mads Jensen of Superseed

Generating sales is critical for any business, so it’s good to get someone on who has a playbook that works.

Podcast Tax Enhanced

25: Multi-stage investing and a regional focus | Paul Mattick of Mercia Asset Management

While multi-stage venture capital management is common in the US, few firms have, so far, managed to develop it successfully here.

Podcast Tax Enhanced

24: Making big ideas investible and measuring impact | Dan Somers of Boundary Capital

We all can see big ideas, but it’s often not clear how to translate them into investible ideas.

Podcast Tax Enhanced

23: The corporate finance approach to venture capital investing | Steve Harris of Committed Capital

Do corporate financiers or former entrepreneurs make better venture capital investors?

Podcast Tax Enhanced

22: Investing in consumer businesses | Will Goodwin & Fred Ursell of Pembroke VCT

Although consumer markets are a big part of quoted markets, they are something of a niche in EIS & VCTs. We hear from a specialist.

Podcast Tax Enhanced

21: Product market fit – what it is, how you get it and how you know you have it | Matthew Cushen of Worth Capital

Product market fit is a much discussed, and much misunderstood, topic in venture capital.

Podcast Tax Enhanced

20: Transitioning from serial entrepreneur to venture capital investor | Jasper Smith of Vala Capital

We love a good entrepreneurial story and Jasper Smith has a great one.

Podcast Tax Enhanced

19: Investing in therapeutic development | Sunil Shah of o2h Ventures

Although investing in drug development seems ideal for EIS investment, it has been somewhat niche. We talk about how investing in the industry has evolved over the last couple of decades.

Podcast Tax Enhanced

18: Systematic venture capital investing and radical diversification | Tom Britton of SyndicateRoom

Venture capital has long been dominated by idiosyncratic decision making, so SyndicateRoom’s systematic data-driven approach is genuinely unique.

Podcast Tax Enhanced

17: Private equity approach to quoted investments | Bevan Duncan and Ken Wotton of Gresham House

Most VCT and EIS investors have knowledge of quoted equity markets, but listed investments using these schemes differ from the mainstream.

Podcast Tax Enhanced

16: Marketing for startups | Rajeev Saxena of Velocity Capital Advisors

Marketing is a make or break area for almost all startups. Having started his career in advertising, Rajeev is an expert, and we probe his knowledge to get insight for both investors and startups.

Podcast Tax Enhanced

15: An all-star panel look back on 2020 and look forward to 2021

2020 has been a challenging year for many and the EIS industry is no exception. The EIS Navigator team have got together an all-star panel to discuss what happened.

Podcast Tax Enhanced

14: Measuring sustainability and ESG | Max Middleton & Jake Wombwell-Povey of Vala Capital

Measuring sustainability is not a trivial challenge. Max and Jake talk us through the options for startups and small companies.

Podcast Tax Enhanced

13: Transforming companies and lessons for EIS investing | Ian Warwick of Deepbridge

Ian Warwick worked in various executive roles in the US before founding Deepbridge. We focus on Aftersoft, a software company that Ian turned round and put on course for a successful exit.

Podcast Tax Enhanced

12: Building a family company into a £70m exit | Scott Weavers-Wright of Haatch

Scott Weavers-Wright achieved two very successful exits before he founded Haatch, first taking Kiddicare from high street to online, then selling to Morrisons.

Podcast Tax Enhanced

11: How much to invest in venture capital | Sanjeev Gordhan of Newable

Brian and Sanjeev discuss how investors should decide how much money to put into venture capital and unquoted investments.

Podcast Tax Enhanced

Bonus episode: Reform, reform, reform | Andy Davidson of Nova

As a relative newcomer to the EIS industry, Andy Davidson of We Are Nova sees it a little differently to many of us.

Podcast Tax Enhanced

10: The 5 reasons startups fail | Andy Davidson of Nova

Brian and Andy focus on the five reasons that startups fail, discussing what these are, why they are a problem and how Nova works to avoid them.

Podcast Tax Enhanced

9: Hardware investing | Ilian Iliev of EMV Capital

Hardware investing is a relatively niche area within EIS investing, but still has many attractions. Dr Ilian Iliev of EMV Capital talks about how the capital intensity has improved and why the ecosystem is attractive.

Podcast Tax Enhanced

8: Film investing | Andreas Roald of Sovereign Media

Film investing through EIS has changed radically since the patient capital review. Andeas Roald is CEO of Sovereign Media, whose background is in making films rather than simply financing them, talks about the return to more traditional structures.

Podcast Tax Enhanced

7: Equity crowdfunding | Rob Murray Brown of ECF.Buzz

While equity crowdfunding hasn’t taken off the way that many hoped, it is an important influence on startups and the EIS industry. Rob Murray Brown is one of the few crowdfunding experts outside the platforms, with strong opinions on what is and isn’t working for investors.

Podcast Tax Enhanced

6: Supporting companies after investment | Andy Round of Praetura Ventures

As investors, it is easy to focus on the process of making investments and forget that the real work happens afterwards. Dr Andy Round discusses supporting companies after an investment is made. We cover getting the right board in place and different sources of support, including various government schemes.

Podcast Tax Enhanced

5: Climate investing | Pippa Gawley of Zero Carbon Capital

For the fifth episode of The EIS Navigator, Brian is joined by Pippa Gawley, Founder and Director of Zero Carbon Capital. They talk about Pippa’s belief that the climate crisis is the most important issue an investor can look to help solve, and discuss the challenges of small companies making meaningful contributions on a global scale.

Podcast Tax Enhanced

4: Thematic EIS investing | Matthew O’Kane of Nexus Ventures

For the fourth episode of The EIS Navigator, Brian is joined by Matthew O’Kane, MD of NIVL at Nexus Ventures. They discuss how to find and invest in good themes, with a couple of examples.

Podcast Tax Enhanced

Bonus episode: Introducing EIS for companies looking to raise money | Simon Thorn of Acceleris

For this bonus episode of The EIS Navigator, Brian interviews Simon Thorn, Managing Partner of Acceleris. They discuss some of the options available to companies and what considerations they should think about when choosing an investor.

Podcast Tax Enhanced

3: Accelerators and social impact investing | Paul Miller of Bethnal Green Ventures

For the third episode of The EIS Navigator, Brian interviews Paul Miller, Managing Partner and CEO at Bethnal Green Ventures. They talk about running an accelerator, social impact investing and how companies can move from ideas to having a measurable impact.

Podcast Tax Enhanced

Bonus episode: Introducing EIS for investors and advisors | Mark Brownridge

For this bonus episode of The EIS Navigator, Brian interviews Mark Brownridge, Director General of the EIS Association. They talk about the Enterprise Investment Scheme, the Seed Enterprise Investment Scheme and Venture Capital Trusts from the perspective of investors and advisors.

Podcast Tax Enhanced

2: Creating an investment process | Reuben Wilcock of Blackfinch

For the second episode of The EIS Navigator, Brian interviews Dr Reuben Wilcock, Ventures Director at Blackfinch Ventures. They talk about the challenges of creating an investment process from scratch, including creating effective decision making.

Podcast Tax Enhanced

1: Investing with angels | Andrew Castell of Par Equity

For the first episode of The EIS Navigator, Brian interviews Andrew Castell from Par Equity in Edinburgh. They talk about angel investing, running an angel syndicate and the merits of being an angel versus a passive investor.

Podcast Tax Enhanced

0: Introducing The EIS Navigator Podcast | Trailer

Coming on Tuesday 16th June, The EIS Navigator Podcast focuses on the UK venture capital industry, particularly areas supported by various government schemes including the Enterprise Investment scheme (EIS), the Seed Enterprise Investment Scheme (SEIS) and Venture Capital Trusts.

Your host, Brian Moretta, is Head of Tax Enhanced Services at Hardman & Co. He is an actuary turned fund manager, who then moved into equity research, and has examined many EIS funds, VCTs and companies. He also has some academic chops, being an Honorary Fellow at Heriot-Watt University where he does some occasional teaching. He has always had a strong interest in getting underneath companies and understanding how they really work, and he finds this space fascinating. Some of this is because transparency is hard, some because the industry is not well understood. The EIS Navigator podcast is an attempt to get beyond the superficial and shine a bit more light on what is going on.

Brian Moretta received Highly Commended at the EISA awards in October 2021 for the category Best Journalist or Advocate.

To contact us or give feedback, whether about the podcast or anything else, please email enquiries@hardmananco.com.