FAQs
Answers TO questions about Cornwall angel network
Below is a selection of frequently asked questions about the Cornwall Angel Network and answers. If your question is not on the list, please contact us.
For investors
Who runs the Cornwall Angel Network?
Falmouth University runs the Cornwall Angel Network in collaboration with the British Business Bank, Cornwall Chamber of Commerce and the UKBAA.
Is the Cornwall Angel Network affiliated with other networks or groups in the South West?
The Cornwall Angel Network is impartial and operates independently to other existing angel networks or groups.
Is the Cornwall Angel Network affiliated with an existing investment fund?
The Cornwall Angel Network is impartial and operates independently to existing investment funds. Cornwall Angel Network members make their own investment decisions.
Does the network make investment recommendations?
No, we are presenting investment opportunities but not making financial recommendations. Each angel investor decides whether an investment is right for them. If you would like to find out more, please read the legal disclaimers accompanying each pitch deck.
What is the self-declaration process and forms?
The Cornwall Angel Network abides by the latest FCA guidelines and requires angel investor members to self declare that they are either a high net worth individual or sophisticated investor every 12 months using the forms provided by the network. This is a standard process followed in the industry that allows the network to present and share what the FCA describes as “unapproved financial promotions” (pitch decks and investment opportunities).
What are the minimum requirements to register as a high net worth investor?
The minimum requirements are set by the FCA and they currently are:
“HIGH NET WORTH INVESTOR STATEMENT
If you meet condition A or B below, you may choose to be classified as a high net worth investor for the purposes of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005.
In the last financial year, did you have:
A) An annual income of £100,000 or more? Income does NOT include any one-off pension withdrawals.
*If yes, please specify your income (as defined above) to the nearest £10,000 in the last financial year [£_______________]
B) Net assets of £250,000 or more? Net assets do NOT include: your home (primary residence), any loan secured on it or any equity released from it; your pension (or any pension withdrawals) or any rights under insurance contracts. Net assets are total assets minus any debts you owe.
*If yes, please specify your net assets (as defined above) to the nearest £100,000 in the last financial year [£_______________]”
What are the minimum requirements to register as a sophisticated investor?
The minimum requirements are set by the FCA and they currently are:
“SELF-CERTIFIED SOPHISTICATED INVESTOR STATEMENT
If you meet condition A, B, C or D below, you may choose to be classified as a self-certified sophisticated investor for the purposes of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005.
Have you:
A) Worked in a professional capacity in the private equity sector, or in the provision of finance for small and medium enterprises, in the last two years?
*If yes, what is/was the name of the business/organisation? [_____________________]
B) Been the director of a company with an annual turnover of at least £1 million, in the last two years?
*If yes, what is/was the name of the company, and its Companies House number (or international equivalent)? [_____________________]
C) Made two or more investments in an unlisted company, in the last two years?
*If yes, how many investments in unlisted companies have you made in the last two years? [_____________________]
D) Been a member of a network or syndicate of business angels for more than six months, and are still a member?
*If yes, what is the name of the network or syndicate? [_____________________]”
What is the best way to contact the network?
If you are interested in joining the Cornwall Angel Network, please register through the website.
If you have any other questions, please contact us via the form on the contact us page.
What happens after I create an account on the website?
The Cornwall Angel Network team will be in touch to arrange a follow up meeting to meet you and discuss your interests and motivations for wanting to join the network. This gives us a chance to understand more about your angel investment experience to date, the industries and the type of companies you are interested in.
I created an account but I can't see pitch decks or other new content?
The team will enable the full website content for angel investors (including pitch decks, recordings and other materials) after the initial meeting and upon receiving your signed self-declaration form.
I am a member, can I see who else is part of the network?
Data protection and confidentiality are paramount for the success of the Cornwall Angel Network. Angel investors do not have access to an online repository of network members but will get to meet them in person at private meetings.
Who attends private investor showcase meetings?
The Investor showcase meetings are fully private and take place in different locations in Cornwall throughout the year. Cornwall Angel Network members receive individual, non-transferable invitations for each showcase. The companies pitching on the day join within their allocated slots and leave after the Q&A session, allowing investors to discuss and collate feedback.
How can I co-invest with other angel investors?
The angel investors interested in the same investment opportunity will be introduced between themselves to plan the due diligence process and co-invest. The Cornwall Angel Network facilitates the introductions between the investors and the company but does not lead on due diligence.
I couldn't attend the investor showcase meeting, where can I find the pitch decks?
The pitch decks and video recordings will become available in the members area a few days after the meeting. After you login, you will be able to browse through pitch decks going back 6 months. If you would like an introduction to any of the companies, please follow the instructions on the company page.
For Companies
What is the best way to contact the network?
If you are interested in presenting your company at one of the upcoming investor showcase meetings, please register and submit your pitch deck online.
If you would like to learn more about angel investing, pitching and the Cornwall Angel Network, please book a ticket for one of the upcoming workshops.
If you have any other questions non-pitching related, please contact us via the form on the contact us page.
What happens after I create an account on the website?
The Cornwall Angel Network team will review your account information before enabling the full content for companies.
What happens after I submit my pitch deck?
The outcome of your application will appear in your company’s area on the website after you login, alongside other network feedback. Additionally, the team may contact you to find out more about your business and investment needs part of the selection process for the showcase meeting.
How does the selection process work for private investment meetings?
The Cornwall Angel Network holds monthly meeting to review the pitch decks received. The meetings include mixed gender representatives from Falmouth University, the British Business Bank and the Cornwall Chamber of Commerce.
This is a competitive process and we seek to achieve parity among the companies pitching in terms of development levels. Each pitch deck is assessed on merit and readiness to raise private capital.
It is important to remember that we do not make investment recommendations or decisions. Each angel investor decides for themselves if a company is a right investment.
I haven't been selected to pitch, what now?
The pitch selection process is based on merit and can be highly competitive. As a Network, we aim to give each company the best chance of raising angel investment. Sometimes, even if your company is investment ready, you may not be selected because the other companies are a few steps ahead in their development. We do not want your company to appear at a disadvantage on the day.
Although you may have not been selected on this occasion, the answer is not “no” indefinitely. We are constantly evaluating and re-evaluating the pitch decks received when planning future showcases. You may hear from us again in the future when the line up of companies matches your development level.
We are also going to introduce SEIS only private investment showcases that will enable more early stage companies to pitch. Please make sure you include the right information when you apply in terms of SEIS / EIS eligibility.
Can I update my pitch deck between submission and showcase meeting?
Yes, the pitch deck submitted on the website is part of the selection process only. Once you are invited to present at an upcoming showcase meeting, the team will be in touch with feedback on your deck and more information about the meeting.
Do I receive support from the network before pitching at an investor showcase meeting?
Yes, all companies selected to pitch at an investor showcase meeting will meet with the Cornwall Angel Network team for a final review of your deck and to receive more information about the schedule on the day. You can also practice your pitch in the Launchpad building and get feedback from the team.
Where and when do investor showcase meetings take place?
The exact location and date of investor showcase meetings is private. The date will be disclosed to the companies invited to pitch in the confirmation email and the location will be shared a few days in advance of the meeting. You can find on our website an indicative timeline of investor showcase meetings and the dates up until when pitches are considered for each of the meetings.
What format are the investor showcase meetings?
The investor showcase meetings operate on a closed-door policy. Each investor showcase meeting has up to 4 slots for companies to pitch to investors. Each slot is 25 minutes long. We recommend a total pitch time of 6 to 8 minutes to allow enough time for Q&A. At the end of Q&A, the company leaves the meeting room allowing the investors to discuss. Introductions with interested investors will be facilitated by the Cornwall Angel Network in the days following the meeting.
Is there a networking session with investors at showcase meetings?
The meetings operate a closed-door policy and do not include networking with companies. Introductions with interested investors will be facilitated by the Cornwall Angel Network in the days following the meeting.
What happens after I pitch at an investor showcase meeting?
The Cornwall Angel Network team will get in touch to setup a catch up meeting. At this meeting you will:
- Receive feedback on your pitch and find out about investor interest ahead of upcoming introductions.
- Answer questions the investors raised in your absence during debrief.
- Identify areas in need of further support.
Still have questions?
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