1.
Q2 Quarterly
Investment
Briefing
Regional Investment
Thursday 28th June
@EngineShed_BB
#QIBriefing
Wifi: EngineShed
Pw: GreaterBristol

2.
QIB Guiding Principles
Those who attend the Quarterly Investment Briefing share
three common principles:
• Whoever attends is an active or potentially active investor, or
manager of investors – or enabler of investment activity.
• Whatever is presented is informative, fact-based and regionally
relevant.
• We value the opportunity to learn equally with the
opportunity to share.

3.
Agenda
16:10 - 16:15 Welcome and introduction
16:15 – 16:55 Lightning Talks
+ Melanie Goward, Maven Capital Partners
+ Charles Grimsdale previously of Eden Ventures
+ Mike Jackson, Shaw & Co.
16:55 – 17:10 Q and A
17:10 - 17:20 What Beauhurst data tells us
17:20 - 17:50 Networking and drinks

4.
Top funders by number of raisings

5.
Top funders by value of fundraisings

6.
Melanie Goward
Maven Capital Partners
@Maven_CP

7.
Charles Grimsdale
Eden Ventures
@cgrimsdale

8.
C GRIMSDALE
Eden Ventures – Founding Partner
June 2018

9.
Mike Jackson
Shaw & Co.
@WebStartBristol

10.
Funding in Bristol

11.
Mike Jackson
Built & sold tech events business £12m turnover, £2m EBITA
Angel invested in 25 Bristol tech businesses
Joined Shaw & Co to help local scaleups raise funds

12.
Independent corporate finance advice.
We help ambitious business owners successfully
complete the most important transactions in their
business lives.

13.
Bristol – Year Zero 2014

14.
24 startups receive average £20K for 10% equity
10 week programme
9 raised approx £5m

15.
Pre-Seed £100k-£500k Friends/Family/Fools
Angels, Angel Clubs
SEIS Funds
Seed £1m-£3m Angel Syndicates/Clubs
Family offices
EIS/VCT Funds
ICOs
Early VCs
Series A £5m-£10m VCs
Mid-market Funds
Funding

16.
Gate 4
Exit Potential
Gate 2
Market Size
Gate 1
Solving a
Problem
Have they identified potential
exit routes and show
knowledge of similar exits?
Do they have a detailed
competitor analysis and clear
market differentiation?
Does the addressable
market have headroom to
allow the company to
rapidly grow?
Is the company solving a
real problem for
users/customers and is the
solution sticky?
Gate 3
Competitor
Landscape
Hard stops
Gate 8
Traction
Gate 6
Team and Board
Gate 5
Funding &
Valuation
Can they demonstrate sufficient
customers/revenue/active users to
achieve funding goal?
Is there a clear vision for the
business and practical growth
plans post-investment?
What are the strengths and
weaknesses of the current
team and Board and what
skills/roles are missing?
Do they know what
amount of funding is
required, why and at
what valuation?
Gate 7
Business Plan
Research
Advice Strategy Planning Business KPIs
Funding Readiness

17.
ClosingMarketingPreparation
2 weeks 4 weeks 6 weeks
• Analyse Term Sheets and
select shortlist
• Negotiate with potential
funders
• Select preferred funder and
set exclusive period
• Provide requested DD
materials/access
• Receive Funding
• Email no-name teaser and
follow up to gauge interest
• Email Investment Deck and
Financial Model to
interested funds
• Introduce funds to
Management and arrange
meetings via Email
• Rehearse and critique
Management Presentations
• Agree target raise,
valuation and timescale
• Prepare five year Financial
Model and stand alone
Investment Deck
• Refine Investor list
• Plan Management
Presentations
• Identify Due Diligence
requirements
Meetings
2 weeks
• First Fund and Management
meetings/calls
• Adapt Investment Deck,
Financial Model and
Management Presentations
based on feedback
• Second & Third Fund and
Management meetings/calls
• Set deadline for written offers
• Receive Term Sheets
3-5 initial Meetings 1-2 Term Sheets5-10 Investment Decks issued
Funding Process

18.
E: mikejackson@shawllp.co.uk
Contact

19.
Charles Grimsdale
@cgrimsdale
Eden Ventures
Melanie Goward @Maven_CP
Investment Director, Maven Capital Partners
Mike Jackson @WebStartBristol
Director of Scale ups, Shaw & Co.
Nick Sturge @nicksturge
Director, Engine Shed

20.
Briony Phillips
Associate Director
and Scale-up Enabler
@Brionyphi1

21.
Identifies 275 ‘scale-up businesses’
in the West of England

22.
Five ‘triggers’ for inclusion
Secured
equity
investment
1
Secured
venture debt
2
Completed
management
buyout/in
3
Participated
in selected
accelerator
programmes
4
Has been or
is a scale-up
5

23.
Stage of Evolution
• 128 Seed stage (109)
• 56 Venture (52)
• 42 Growth (41)
• 8 Zombie (7)
• 13 Exited (8)
• 28 Dead (28)

24.
Top funders by number of raisings

25.
Top funders by value of fundraisings

26.
Sectors

27.
Fundraisings

28.
YellowDog
Processing power
The Mortgage Lender
Home loan provision service
Micrima
Breast scanning technology
Living Map
Digitised maps
Rovco
Underwater surveying & inspection
Left Handed Giant
Brewery
Raised successfully in Q2 2018 (26)
Senta
Cloud-based accountancy software
Beta Boulders
Gym - climbing, yoga and fitness
Ziylo
Carbohydrate sensing technology
Lost and Gounded Brewers
Brewery
Rockit
Automatic pram rocker
Lupe Technology
Cordless vacuum cleaners
+ Gamebench
+ Good Sixty
+ FluoretiQ
+ Go Faster Group
+ StatsBomb
+ LettUs Grow
+ Evolved Intelligence
+ Love Henri
+ ITEC
+ LUX Rewards
+ Bristol Distilling Co.
+ Shift2Go
+ Perceptual Robotics
+ Sekforde

29.
Raising Q3 2018 – an open call
FORTH
£300k - biomarker profiling to test blood samples
Alexander Joseph
£220k – luxury cordless lamps
Cerberus
£500k – secure communications via microchip
GROW BRISTOL
£1.25M – nutrient dense & ultra local produce

30.
Clifton
Dragons
Equity
Seed
Growth
Corporate
Finance
West of England
Investment
Landscape
Debt, loans,
grants
Funds
Crowd
funding
Social
ImpactFacilitators
Incubators

31.
Angel in
residence – call
for volunteers
Regional
Investment
Funds - update
New angel
syndicate?
The finance ecosystem in West of England

32.
What next?
1. Tell me about investment events locally
2. Pick up one page summaries
3. Read the Quarterly Investment in Brief (newsletter)
4. Join us for the TechXpo – departing 17:40

33.
Quarterly
Investment
Briefing
For your diary:
Thursday 27 September 16:00
TLT, 1 Redcliffe Street
@EngineShed_BB
#QIBriefing
Wifi: EngineShed
Pw: GreaterBristol