What we’re about
The goal of the Angel Investor Meetup group is to educate and inspire more people to become Angel Investors in order to support the Scottish startup community
If you are an Angel Investor already or are interested in becoming one, please come along to one of our events run by The Startup Race team in Edinburgh.
• Follow us on Eventbrite to get notifications of our events here
• Subscribe to our YouTube Channel to watch our Fireside chats here
• Subscribe to our Weekly Edinburgh Startup Newsletter here
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RECENT VIDEO
You can get an idea of what our events are like by watching a video of a recent event with Michiel Smith of Apollo Informal Investments - https://youtu.be/b1ytXYPctY4
NOTE: As the Angel Investor Meetup group is fulfilling it's purpose of inspiring more and more people to become Angel Investors, one of the things we will be doing to improve this group further is removing members who do not attend at least three meetups in six months.
RECOMMENDED READING
Have you read 'Angel: How to Invest in Technology Startups' by Jason Calcanis? It makes an inspiring case for Angel Investing.
"One of Silicon Valley’s most successful angel investors shares his rules for investing in startups. There are two ways to make money in startups: create something valuable—or invest in the people that are creating valuable things."
Angel Investing can be very rewarding, exciting and great fun but you should be aware of the risks and challenges. Here is a thought provoking article for you to read. http://observer.com/2015/08/why-i-stopped-angel-investing-and-you-should-never-start/
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LEGAL NOTES
Please be aware that any investment opportunity that may become available through the Angel Investor Meetup group or The Startup Race ltd is only suitable for accredited investors who are familiar with and willing to accept the high risk associated with private investments. Any investor who intends to take up any investment opportunity must be an accredited, qualified or sophisticated investor according to local or national regulations that apply.
There will be no investigation to the accuracy of any information or terms provided by any companies seeking investment. and there may well be errors in the information provided so we strongly suggest that you seek legal advice prior to commencement of any potential transaction. All information provided by the Angel Investor Meetup group or The Startup Race Ltd is strictly for informational purposed only and does not constitute business, financial, investment, hedging, trading, legal, regulatory, tax or accounting advice or services. The Angel Investor Meetup group or The Startup Race Ltd are not a registered brokers or dealers or any other regulated entity. The Angel Investor Meetup group or The Startup Race Ltd do not sell or offer to sell any securities and no information provided by the Angel Investor Meetup group or The Startup Race Ltd is intended to constitute or to be interpreted as any such offer. Any investor requesting to contact a company through the Angel Investor Meetup group or The Startup Race Ltd does so at his/her own risk and is solely responsible for conducting any legal, accounting or due diligence review.
The Angel Investor Meetup and The Startup Race Ltd is not regulated by the FCA, does not give financial advice and does not propose financial investments. Our mission is to run events and services to inform, inspire and provide opportunities for appropriate partners to meet.
Warning - Financial Services and Markets Act 2000
The information is directed only at persons who have valid certification that they are 'High Net Worth Individuals', or 'Sophisticated Investors' as defined by the Financial Services & Markets Act 2000, or are non-UK residents (in which case they must act in conformity with any relevant laws in their country of residence).
Investment in new business carries high risks as well as the possibility of high rewards. Its highly speculative & potential investors should be aware that no established market exists for the trading of shares in private companies. Before investing in a project about which information is given, potential investors are strongly advised to take advice from a person authorised under the Financial Services and Markets Act 2000 (FSMA) who specialises in advising on investments of this kind. Angel Investment Network Ltd cannot advise on the merits or risks of investment and is not authorised to arrange transactions or circulate offer documents under the Financial Services & Markets Act 2000.
The information has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000. Reliance on such promotion for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the property or other assets invested.
Self-Certification as a High Net Worth or Sophisticated Investor: Financial Services and Markets Act 2000 (Financial Promotion and Promotion of Collective Investment Schemes) (Miscellaneous Amendments) Order 2005
In terms of the Financial Services and Markets Act 2000 (“FSMA”) and the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (“FSMAO”), individuals seeking to make angel investments in SMEs are required to provide evidence that they are either a “certified high net worth individual”, “self-certified sophisticated investor” or a “certified sophisticated investor”. If you are in either of these categories then you are exempt from the provisions of the FSMA.
To satisfy the requirements of the FSMA you must satisfy one of the following three options:
1. Certified High Net Worth Individual
I confirm that I am a certified high net worth individual for the purposes of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005.
I understand that this means:- (a) I can receive financial promotions that may not have been approved by a person authorised by the Financial Services Authority; (b) the content of such financial promotions may not conform to rules issued by the Financial Services Authority; (c) by signing this statement I may lose significant rights; (d) I may have no right to complain to either of the following: (i) the Financial Services Authority; or (ii) the Financial Ombudsman Scheme; and (e) I may have no right to seek compensation from the Financial Services Compensation Scheme.
I am a certified high net worth individual because at least one of the following applies:-
(a) I had, during the financial year immediately preceding the date below, an annual income to the value of : £100,000 or more; or (b) I held, throughout the financial year immediately preceding the date below, net assets to the value of : £250,000 or more.
“net assets” for these purposes do not include:- (i) the property which is my primary residence or any loan secured on that residence; (ii) any rights of mine under a qualifying contract of insurance within the meaning of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001; or (iii) any benefits (in the form of pensions or otherwise) which are payable on the termination of my service or on my death or retirement and to which I am (or my dependents are), or may be, entitled.
I accept that I can lose my property and other assets from making investment decisions based on financial promotions.
I am aware that it is open to me to seek advice from someone who specialises in advising on investments.
Or:
2. Statement for Self-Certified Sophisticated Investor
I confirm that I am a self-certified sophisticated investor for the purposes of the Financial Services and Markets Act (Financial Promotion) Order 2005.
I understand that this means: (a) I can receive financial promotions that may not have been approved by a person authorised by the Financial Services Authority; (b) the content of such financial promotions may not conform to rules issued by the Financial Services Authority; (c) by signing this statement I may lose significant rights; (d) I may have no right to complain to either of the following:- (i) the Financial Services Authority; or (ii) the Financial Ombudsman Scheme; and (e) I may have no right to seek compensation from the Financial Services Compensation Scheme.
I am a self-certified sophisticated investor because at least one of the following applies:-
(a) I am a member of a network or syndicate of business angels and have been so for at least the last six months prior to the date below; (b) I have made more than one investment in an unlisted company in the two years prior to the date below; (c) I am working, or have worked in the two years prior to the date below, in a professional capacity in the private equity sector, or in the provision of finance for small and medium enterprises; (d) I am currently, or have been in the two years prior to the date below, a director of a company with an annual turnover of at least : £1 million.
I accept that I can lose my property and other assets from making investment decisions based on financial promotions.
I am aware that it is open to me to seek advice from someone who specialises in advising on investments.
Or:
3. Statements for Certified Sophisticated Investor
Part 1 – Statement by the investor:
I confirm that I am able to receive promotions which are exempt from the restrictions on financial promotion in the Financial Services and Markets Act 2000. The exemption relates to certified sophisticated investors and I declare that I qualify as such in relation to investments of the following kind: investments in unquoted private companies and unquoted public companies. I accept that the contents of promotions and other material that I receive may not have been approved by an authorised person and that their content may not therefore be subject to controls which would apply if the promotion were made or approved by an authorised person. I am aware that it is open to me to seek advice from someone who specialises in advising on this kind of investment.
Part 2 – Certification by an Authorised Person advising the investor:
An “authorised person” in terms of the Financial Services and Markets Act 2000 must certify that the person who has signed the above statement (in Part 1) is a “sophisticated investor” in terms of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005.
