Angel investment story 3: Planalot

Richard and I discuss the first of our Angel investment investments to fail. To protect the guilty all the names have been changed. Any resemblance to real events or people is entirely coincidental. Please don't sue us.
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[@TheStuartOwen]

You’re fortunate that the company had a winding up event. I’ve suffered from too many limping on and not crystalising my loss relief!

[@TheStuartOwen]

Given the importance of the CEO maybe that means only backing people who have done a few startups already? Likely means EIS rather than SEIS, where newbies are learning hard lessons

[@portfoliomatters2473]

I agree that would be ideal, but the size of the opportunity also matters and theoretically the increased risk of the very early startups is reflected in the higher tax breaks. That all said, I think that the reality is that EIS investments are much lower risk even after accounting for the tax breaks. I have now outsourced all my SEIS investments to QVentures. Mature, experienced entrepreneurs are always to be favoured

[@mbyrne01]

I did an investment into a serial founder once. Turned out, he was a serial founder as he kept taking money and then trashed the company. Look very carefully into their history is all I'm saying.