Nice one Gordon

Posted by Chris Padfield on April 21, 2009 under Miscellaneous | Be the First to Comment

>>> The only way it would work would be as a
blind investor letting a VC or business angel association take the lead,
evaluate the business case and value the opportunity. But would that not just
crowd out funds that would have invested anyway.

 

Most public sector support for Venture Capital comes in the way
of co-investment funds, e.g. the Early Growth Funds which required at minimum a
1:1 match. London Technology Fund and Creative Capital work on a similar basis.
The Enterprise Capital Funds work on a slightly different basis, requiring 1/3
of the fund size to be put up front by private individuals. As you say, one of
the main reasons for this is to ensure the public sector is not just supporting
companies that the market rejects.

 

RBS was at one point matching private angel investment through
at least one angel network; unsurprisingly they are not doing this anymore.

 

_________________

 

Chris
Padfield | Investment Manager | London Business Angels & London Seed
Capital

style='font-size:8.0pt;font-family:"Verdana","sans-serif"'>[address removed] style='font-size:8.0pt;font-family:"Verdana","sans-serif"'> | 020 7089 2309
GLE Growth Capital, New City Court, 20 St Thomas Street. London SE1 9RS

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From: style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>
[address removed] [mailto:[address removed]] On Behalf
Of Peter Cunningham
Sent: 20 April 2009 20:52
To: [address removed]
Subject: Re: [entrepreneur-1056] Nice one Gordon

 

Personally I think the government is the worst allocator
of resources. Decisions will be afflicted by politics (MPs defending marginal
seats will want pork for their constituency), bureaucracy, political
correctness and regional policy – never a recipe for optimal allocation of
resources. And there will be pressure to keep funding ‘lame ducks’ that
private investors would just leave to die.

 

A radio 4 interview I heard asked how the US was able to
find so many projects so quickly for ‘public funding’ as part of Obama’s
economic stimulus – the answer was easy these were all the projects that had
already been rejected as hairbrained or non-viable that were just being
re-presented!

 

The only way it would work would be as a blind investor
letting a VC or business angel association take the lead, evaluate the
business case and value the opportunity. But would that not just crowd out
funds that would have invested anyway.

 

Maybe tax breaks for investment or reviving the small
business loan schemes would work – or how about creating a fund that would
allow entrepreneurs to claim a minimum and decent revenue when they work on
first few months of a start up (having worked and lived in France for several
years, many of the entreprenuers I met ‘arranged’ to be made
redundant to be able claim two years salary from the ASSEDIC – 60%
of the old salary paid by the government – while they worked on a start up.
It was possible as long as you only took dividends and no salary! Makes you
wonder why there are not more French entreprenuers? That is because they try
and kill entrepreneurs with taxes and redtape as soon as they are successful,
but thats another story). I always wondered why we spend so much money for
the unemployed to sit on their backsides but never help those that try to
help themselves.

 

Thats my rant over!

— On Mon, 20/4/09, Antony Penn <[address removed]>
wrote:

From: Antony Penn
<[address removed]>
Subject: Re: [entrepreneur-1056] Nice one Gordon
To: [address removed]
Date: Monday, 20 April, 2009, 2:00 PM

Given that:
1) banks are risk-averse
2) the banking ecenomy is shot; and
3) the UK government have a poor record of encouraging small businesses

You can guarantee that:
a) it will be many many years, if ever; and
b) you will find it near impossible to qualify

On 20/04/2009, Hamlesh Motah
<[address removed]>
wrote:

I’d be very surprised if the "Sheriff of
Nottingham" manages to make this happen!

On 20/4/09 12:29, Jon Vollemaere wrote:

How long do you think it will take to go live ?

http://news.bbc.co.uk/2/hi/business/8007467.stm

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