The Interview
Clarke l Group
Cofund. This mutually beneficial relationship gives the LBA EIS roundtable Fund an investment partner for future investment opportunities and gives the Angel Cofund access to a consistent stream of pre qualified deal flow.
LBA is launching its own Seed (SEIS) Fund for LBA investors which will allow its members to acquire a portfolio of seed stage high growth potential investments whilst taking advantage of the 50% income tax relief and other tax advantages offered by the Seed Enterprise Investment Scheme.
Q
Crowd Vision have recently closed a funding round, with investors
including Angel CoFund. Can you discuss the funding?
Crowd Vision presented to the LBA network on 17 May 2012. Prior to presenting, the company had received pledges for 50% of the round and an independent value added lead angel investor had been identified. LBA angel investors were able to Fund the balance with Angel CoFund. This is a very good example of how a company with a clear and well organised funding strategy can effectively close a round. This is also the third time this year that the AngelCofund has committed to invest alongside London Business Angel Investors.
LBA investors were able to support the lead and expressed such interest in the round that their syndicate had to be scaled back.
Q
What are the main areas of Crowd Vision’s expertise?
Overcrowding is a global challenge as the world’s population is forecast to more than double in the period 1970-2030 and the level of urbanisation will increase from 35% to 60%. Crowd Vision has developed innovative software, which extracts crowd insights from video feeds in busy locations, enabling customers to understand and intervene in their crowds. Different companies derive different benefits; reducing public safety,
increasing flows and throughput, optimising business throughput or maximising profit.
The company‘s CEO is Fiona Strens, a computer science from Cambridge University and an experienced leader in the security sector.
The company’s product is currently being deployed to high acclaim at Mecca, Saudi Arabia, where there is a history of crowd disaster during the Haji when 3 million pilgrims need to be kept safe.
Crowd Vision has developed innovative software, which extracts crowd insights from video feeds in busy locations, enabling customers to understand and intervene in their crowds.
your 2012 strategy? Q
As a result of continued stimulus via the £50m Angel Cofund, the enhanced EIS tax benefits and the Seed Enterprise Investment scheme activity at LBA continues to grow given the low returns offered by alternative investments in the marketplace. Investors seeking asset diversification are being tempted to also hold a portfolio of high growth potential angel
2011 saw global economic turmoil; do you think this has impacted on
investments. LBA’s investment activity in 2011 was comparable to pre-crisis levels and activity levels continue to grow in 2012.
Many large corporates are now cash rich as they reduced investment and other capital intensive activities during the recent crisis period. These corporates have the firepower to make acquisitions. For example, a £500k London Business Angels syndicate recently achieved a significant exit in Sirigen Group, a high sensitivity fluorescence business, which was acquired by Becton, Dickinson and Company, a leading US global medical technology company. Seven LBA investors achieved returns in the range of 2.5x – 4.0x on their original investment with many benefiting from the EIS scheme.
Q
Is there anything else you would like to mention?
LBA, alongside the City of London Corporation, is delivering the Angels in the City programme which aims to increase the awareness of individuals to become investors and to bring their financial capacity and business experience to invest in innovative entrepreneurs with high growth potential in the city fringes, including the exiting Tech City cluster. To date 80 individuals from a range of backgrounds, including blue chip investment banks to niche insurance brokers have participated with a series of capacity building workshops and investment pitch events with more set to take place throughout the fall of 2012 and into 2013.
Contact:
Anthony Clarke CEO
Angel Capital Group Tel: 020 7321 5670
Email:
anthony.c@angelcapital.co.uk Website:
www.angelcapital.co.uk
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