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.
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.
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 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. This podcast is an attempt to get beyond the superficial and shine a bit more light on what is going on.
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As a relative newcomer to the EIS industry, Andy Davidson of We Are Nova sees it a little differently to many of us.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.