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Background Dragons & Angels (D&A) isa small syndicate of companies and entrepreneurs with capital and expertise, Being part of a syndicate allows in tomake larger and more fi are successful entrepreneurs themselves DBAs prepared to b: companies that are seeking to expan westment is from £50,000 to £500,00 Investors often attend face-to-face ‘speed events, where they interview entrepreneur five minutes. The the next Invest up to £ more than one vent 1. Which of the ventures sounds t 2 How mu: 3. Which bu 4 What kind of sta investor, e.g. 3 being a ‘sleeping’ part role in the business? angel investors based in Edinburgh that provides ent investments. Some start-ups or established nek Evaluating business ventures You are investors from D&A and are planning to attend d-funding event in Edinburgh. You can 100 in total and you may invest in e. Read the three profiles on the ;pbosite page and evaluate the different entrepreneurs essful and profitable you think Then discuss these questions. most interesting and promising? Do any ofthe products have a distinct advantage in the marketplace ness do you think wil give you the /ou be interested in as nt awnershi 5 What will yourrole be? Are you interested in or taking an active Angel investment is a risky business, but as one of D&A’ senior partners puts it, ‘Companies which might otherwise have financed growth plans through bank loans have had to consider equity, while Investors who might traditionally have invested in the stock market or property are looking to diversify thei portfolios to spread the risk. Research shows: to make a significant profit by investing in start-up ompanies, with an aver ent over four ye UNIT7 »> FINANCE POR ee eee ee tore Acree wei Morey ticcnmon) Gute evoteuner Yeats E-sellers and maker of an ‘cheese makers and co- McClintock, Soul-air | e-reader directors of McQueen's, on Investment ‘an Edinburgh-based family aewed required: business ee laa | £400,000 z tobus $800,000, / a solar-powered mainly product £100,000- ak velopment for esigring a investing ia Return on smaler and renewable energy, capital: mate r expanding the 40% 45% over o-red curent premises four years | Return on capital: 25°%-30% over ahd ‘Soul-air- the sky's the limit! | four nore si ‘My cream sto fy around the werd in Return on capital: 20% over four years 80 plane, | want to demonetrate the 11m the founder of E-selers, an e-book publisher and online bookstore Wi im joint drector of McQueen’. We make ‘ready have an 1 percent share of quality Sootsh goat's cheese, which Im the e-book market. ve now developed passionate about, Our customers valle my own e-reads. 'm not worried by our endrermanta standerds, qualty ans the competion from bigger companies. years of experiance. We pride oursees on Potential of renewable energy. Airplane manufacturers aro sceptical such a plane ‘can be built, but have always believed in thinking creatively and autsce the box. Curent, we have a society based ‘nal dependency. The result car | Their -feaders are overpriced or don't organic faring and using resources more maruilacturere are going bankrupt. 8 & | fteasiy ina pocket orhandbag ike ours sparing. We're tying to become a carbon: typical example of people who dd not lo. E-books and physical books wl neutral compary, That means we would mle the turnaround enty enough, Join co-exist or many years. Whenever | buy abo need to invest inattentive reas, gon this acverture of a Hetime - you abook, lusuall buy two: one tehave which woud reduoe our greenhouse ge3 won't egret onthe shelf end anather to read on my emisions even more. think that woul i | reader (ve us an edge over cur compattors | 40 c02.38-2.40 Listen to three investors atthe speed-funding event asking the entrepreneurs {questions and take notes. Which entrepreneur(s) dealt best with the questions? What other questions would you ask at this stage? Watch the Case study commentary on the DVD-ROM. Decision-making meeting Workin groups. After the speed-funding these questions Writing You are one ofthe investors at Dragons & Angels. Write an e-mailto a colleague who missed the presentations, ! proposing the business idea you would like to investi. How much money will you invest Include these points. 1 Which venture(3) will you invest in, and why? Does the product have a large and fast-growing market? collectively asa syndicate? Say why you want to invest inthis particular venture. What will be your role in the business(es); for example, a mentor, a management advisor ora partner with a stake in the firm? How much control would you tke? * Say how much money you have decided to invest and what kind of return on investment you expect (@ minimum of 20 per cent at this stage). ‘+ Mention the background and expertise of the entrepreneur or management team, What quality contacts could you pass on to the entrepreneur? Which of your family, fiends or assoclates could be interest Briefly describe D&A’s role in the venture. inthe product(s) as potential customers? Writing file page 145 3