Glenn Smith

#Manchester based past SkilledUp Life tech startup customer Cytix raises £1.6 million Seed investment from Manchester based Praetura Ventures founded by David Foreman. Michael Rees well done. Limited Partner (LP) in this case is Northern Powerhouse Fund II operated by British Business Bank British Business Bank North of England Delyth Lloyd Edwards. Simon Cunnington SkilledUp Life helped Thomas Ballin and the team during the earliest stages of the tech startup when they were self-funded and bootstrapping. I also had the pleasure to mingle with Ben Armstrong at Techcelerate when they were just starting up and trying to build the first version of the product. Both Ben and Thomas stood up as a strong pair of co-founders. They came from the same industry, worked for the same boss and knew the market inside out. They knew how to innovate the market and slice a portion of the market for themselves. They also had a superb unfair advantage in addition to above. The pair was perfect to start a tech product company. Let me explain why. When you talk about building tech startups, especially at the very earliest stages, you need to two people: - Some one who can code and build - Thomas Ballin - Some one who can sell - Ben Armstrong Having been in the tech startup world for 20 years, I rarely see this ideal combination. I knew they would go places. And they had. A massive congratulations from me to Thomas, Ben and the team. My only regret was I could not convince them to join Techcelerate. 😁 Here's the story https://lnkd.in/ec7VzXp2 covered by Deal Lite. Here's the story about Pre-Seed round https://lnkd.in/eR4UQ9fi I look forward to reading the story about Series A investment not too long in the near future. Congrats all. A good day for #Manchester! 🥂 Oh, by the way, we have a ton of #cybersecurity volunteers on https://skilledup.life Here is a bunch of Manchester tech startups who are leveraging SkilledUp Life as they self-fund and bootstrap their businesses in the early stage. These companies are cash-efficient and understand how hard the journey is: - Dustid run by Michael Livingstone - Orakly run by Craig A. Taylor - also a Techcelerate member - mutuals run by eddy D. SkilledUp Life de-risked Cytix over 20 months period. SkilledUp Life is here to give a leg up to tech startups in early years. #Cytix #Cybersecurity #Manchester #TechManchester #SkilledUpLife

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🎉 Exciting News! ThirdRetail has secured SEIS advance assurance within 24 hours of self-application! 🚀 🔍 What is SEIS? The Seed Enterprise Investment Scheme (SEIS) is a UK government initiative designed to encourage investment in early-stage startups. It offers tax reliefs to investors, making it easier for young companies like ours to raise capital. 👋 Who are we? ThirdRetail is revolutionizing offline distribution for D2C brands! 🏪 We're the Airbnb of retail shelves, making it affordable and accessible for direct-to-consumer brands to scale their physical presence. Our AI-powered platform removes cross-channel blindspots, providing seamless integration between online and offline retail. 💡 Our mission: - Empower D2C brands to expand offline - Optimize retail space utilization - Bridge the gap between digital and physical retail 🤝 Calling SEIS Funds! Are you interested in being part of the third channel of retail sales? We're currently raising our pre-seed round and would love to chat with SEIS funds looking for exciting investment opportunities. Let's connect and explore how we can shape the future of retail together! 📈 Anil Junagal #RetailTech #SEIS #SEISFUNDS #Startup #D2C #Retail #Marketplace #B2B #SaaS

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Lemon Raises £500K in Pre Seed Funding Round to Enable SMBs to Save Thousands on SaaS Spending Co-Founder and CEO of Lemon Matt Bird commented: “It’s clear that we’re going through a really interesting period for SMBs at the moment,. Taking into consideration the challenging economic landscape with funding drying up everywhere you turn, SMBs now need the tools and services to help them build better businesses as cost-efficiently as possible. With software being the third largest spend for an SMB, we really think Lemon can become a core part of how an SMB uses SaaS. https://lnkd.in/eHzkqN5v Koen Christiaens Edward Stevenson #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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HUGE NEWS: British pension specialist Cartwright has guided the UK’s FIRST pension fund to allocate 3% into Bitcoin. The unnamed fund allocated 3% of its fund into bitcoin following “consultations with the scheme’s trustees, where ESG, investment case and security were all addressed at length.” Glenn Cameron, head of digital assets at Cartwright. Sam Roberts, Director of Investment Consulting commented: “Trustees are increasingly looking for innovative solutions to future-proof their schemes in the face of economic challenges. This bitcoin allocation is a strategic move that, not only offers diversification, but also taps into an asset class with a unique asymmetric risk-return profile." The cherry on the cake is that the unnamed fund invested 3% of its total assets directly into Bitcoin, as opposed to using a proxy such as a spot ETF. Samuel Roberts is joining me on The Bitcoin Collective podcast this week, what questions would you like me to ask?👇 #bitcoin #digitalassets #pension #finance #fintech

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This is another useful proof point of the need for #AI re-skilling across all companies and organisations. Siobhan's list of her own re-skilling and educational activities is a tribute to her inquisitive mind and resilience. It's clear that there's some great material out there from the big tech players and leading universities. What is less clear is what you need to do - at a personal or organisational level - to re-skill and reposition yourself. There's simply so much out there. With this in mind, my co-founder Shivika Pratap and I are completely reshaping https://HeyDeesha.ai to focus on guiding careers in the context of the AI economy. We are doing our reshaping based on a taxonomy of roles that we see emerging. Please DM me if you are interested in what the taxonomy looks like. It's not just tech roles, BTW. We want to extend the taxonomy to Marketing, Sales, Support... and, one day, really deep specialist skills such as Medicine. We are also looking at how the pace of change in the workplace is affecting maternity leavers/returners. Kate Apaflo Awuku-Darko, Emmanuel Ihenacho

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Yesterday’s report from Barclays showed that there’s a significant funding gap globally for climate tech: a massive $4.35 trillion annually if the world is to meet its climate goals by 2030. While I applaud the recommendation that the new government could look to address the financing gap, I also know that demands on the public purse are coming from every direction and Ed Miliband has a lot on his plate and finite resources. It strikes me that the report’s third recommendation – to improve organisational connection and collaboration – is where we can start to take the most immediate action. The BRC Mondra Coalition is a shining example of the private sector coming together, and working pre-competitively to fund a united solution to common problems that stop the sector as a whole from progressing. It's on us in the private sector to collaborate and fund solutions that will enable the Net Zero transition.

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After reaching a huge milestone, 200% overfunding, we will be closing our Crowdcube round early tomorrow. Thanks to all the new investors who have joined our journey - it's fantastic to have you onboard. If you had forgotten, and want to jump in before it closes, then you can still do so until 23:59 tomorrow: https://lnkd.in/ecqDfu65 Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more: https://lnkd.in/evf943Fk

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Should Canadian startups adopt this advice too?

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"Funding Collapse sends investment in start-ups to six year low" The Times today covering the shocking stats that VenturePath uncovered, with our partner Beauhurst. Great quotes from supporters Michael Moore CEO, BVCA and Julian David CEO, techUK. * UK VC funding at Series A is -44% from last year, and worsening * Q3 24 is down a staggering 57% from Q2, itself down from Q1 * 9 in 10 seed funded startups cannot access Series A VC funding, the next 'rung on the funding ladder' * Just 32 future scaleup companies across the whole of the UK were able to access their first VC funding round in Q3...a 6 year low * Half a billion less capital is going in to UK scaleups at Series A, than just 2 years ago! As the UK scaleup funding gap widens, we are losing ground against other countries, at both startup stage (a position the UK worked hard to achieve, since 2011), and for scaleup support. OECD data: 13th in the world for scaleup support, and that's before Series A funding access dried up. I get that its confusing. Another report (BBB, Nations & Regions) released this week spoke of positive trends in private investment, stating "The data for Q2 2024 shows that investment value has continued to grow". Great, I love to see optimistic data. But under analysis that bundles venture with private equity (later stage), where a few megadeals skew the numbers. Otherwise the exact opposite is true. Our independent research here, for the UK ScaleUp Investment Mission, is laser beam focussed on Series A. The funding round where companies move from the c.1m startups launched each year, through the 2,179 that access seed funding, into the rarefied category of being recognised as future scaleups, attracting Series A funding (£2-10m). The UK venture landscape is currently funding just 248 pa of these companies, and declining. We've been sharing this urgent call for support with the new Government since the day after the election. I've personally met with several Ministers, and spoke to all the relevant Government departments. I will shamelessly repeat loudly what is at stake. UK scaleup funding at Series A has nearly halved in a year, and continues to decline steeply, more than halving in the last quarter. VenturePath developed The UK ScaleUp Investment Mission to convene the scaleup support ecosystem and £7bn of funders to help address this problem, to improve nationwide access to VC investment, and create more venture-backed successes. We have clear support, clear recommendations to reverse this decline in UK scaleup investment, and have made a clear ask of Government for participation in this, to ensure immediate action is taken to create the conditions for success for UK scaleups, ensuring the focus on growth isn't undermined by lack of capital, or equitable access to it. Government decision makers, we'd love your interest, to progress to action. HM Treasury: Rt Hon Rachel Reeves Spencer Livermore James Murray & CC Poppy Gustafsson (welcome to the debate).

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We've raised $1.3B Balderton Capital in new funds across early and growth to continue supporting UK & European technology founders. This is the 8th(!) fundraise I've been part of and have shared some thoughts on why venture matters, how fundraising in Europe has changed and how we differentiate ourselves through conviction here: https://lnkd.in/e2XRcagq

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7 of the most active seed stage funds in the UK. 💸💸💸 These are the funds that have been the most recommended to me for the B2B software space. SFC Capital - An SEIS fund that typically invests at Pre-Seed, Seed and Series A. From what I could see funding is usually between £100k and £300k at pre-seed. Octopus Ventures - Typically invests up to £1m for Seed funding rounds. Ascension - Typically invests between £500K and £5m. Fuel Ventures 🚀 - Check size of £1-3M at Seed stage LocalGlobe - Seed and Series A fund. Mercia Asset Management PLC - Mercia manages a number of different funds and can invest from Pre-Seed through to Series A with ticket sizes of up to £10m. Haatch - Invests between £300 - 800K at Seed stage. If there's any other seed stage funds you'd recommend please let me know in the comments 

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As the Chief Technology Officer at a Health startup using AI, I see the introduction of the "Artificial Intelligence (Regulation) Bill" as a critical juncture for the technology sector. This proposed legislation offers a chance to establish a regulatory framework that not only protects the public and maintains ethical standards but also encourages innovation. The creation of an AI Authority could serve as a centralised body to ensure consistency and coherence across various sectors, effectively addressing the current regulatory fragmentation. Such regulation is crucial to balance rapid technological advancements with the need for transparency and accountability, ultimately fostering a more trustworthy AI ecosystem. This bill could set a precedent for global AI governance, positioning the UK as a leader in this vital area. Lord Holmes #aibill #ArtificialIntelligence #startups #ai #ukai #aijobs

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Today we have a superb episode with an absolute legend, Alan Patricof, Co-Founder of Primetime Partners, Greycroft, and Apax Partners. It’s hard to explain just how important Alan has been for tech and VC. He’s one of the true pioneers in venture capital worldwide, having started his first VC firm in the 1970s, Alan Patricof and Associates, which later became Apax Partners and currently has over ~$80Bn AUM. Alan is an inspiring figure, not only because of his success in the business world but also because of his vitality and contagious optimism. He joined us a day after his 90th birthday and candidly, he had more energy than most people I know. We recorded live on stage at Rise, created by Barclays in NYC for the 2024 Gilgamesh Ventures Summit, an annual meeting where we gather over 150 limited partners, founders, investors, and friends for a series of events and discussions about the future of tech and financial services. In this episode, we discuss: - The early days of Venture Capital and Tech in the 1970s and beyond - Alan grew up in NYC and built his career in NY – how was the city back then? - Building primetime partners to invest in the fastest growing market, people over 60 - Staying healthy. How Alan keeps fit, focused and is closing deals at 90 Years Old - Why your reputation is all that matters in this business… and a lot more! Special thanks to Morgan Borer, Jessica Schaefer, Carlee Snyder, Courtney Dawson, and Carina Oriel! https://bit.ly/4g1HNMU

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Top 10 Most Active UK Angel Networks The UK’s startup ecosystem is flourishing, thanks to the tireless efforts of angel networks who back the next generation of innovators. Beauhurst recently highlighted the top players in this space, and I’m thrilled to share some of the standout names driving change and growth. 1. Susie Fisher - Kelvin Capital 2. Lynne Cadenhead - TRICAPITAL Angels Limited 3. Alex Davies - Wealth Club 4. Paul Tselentis - 24Haymarket 5. Oliver Woolley - Envestors 6. Jock Millican - Equity Gap 7. Niki McKenzie - Archangel Investors Limited 8. Alexis Toft - Minerva Business Angels 9. Emmi Nicholl - Cambridge Angels 10. Eileen Modral FRSA - Oxford Innovation Finance These networks have consistently provided invaluable support to early-stage ventures, catalysing the growth of some of the most promising startups in the country. 🎯 What angel network are you part of?

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SEIS Season is Coming – Don’t Miss Out on the Best Tax Incentives for Investors 🚀 As we approach SEIS season, it’s time to explore how the Seed Enterprise Investment Scheme (SEIS) can unlock incredible benefits for investors in early-stage startups. 🌟 Here’s what SEIS offers: > 50% Income Tax Relief 💸 > Capital Gains Tax-Free Investment 💰 > 25% Loss Relief for added peace of mind 💵 With recent government changes increasing capital gains tax and inheritance tax, SEIS remains one of the most effective ways to support innovative startups while optimizing your financial strategy. To sweeten the deal, all investors who join Hyper will receive 5 free Apollo Pro memberships—a game-changer for your portfolio companies. Apollo Pro gives startups access to $100,000+ in credits and savings with top platforms like Amazon, Microsoft, ChatGPT, HubSpot, Typeform, and more. 👉 Ready to take advantage of SEIS and build the next generation of unicorns? Start here: https://lnkd.in/edxFkxer Let’s make this SEIS season your most impactful yet! 💼✨ Important Note: Hyper is not a financial advisor, and this does not constitute financial or tax advice. Please consult a licensed professional to explore how SEIS can work for your personal circumstances.

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Member News ⬇️ Two Serial Northern Entrepreneurs Launch £15m Fund to Back AI Innovation in the UK with thestartupfactory.tech "Co-founders Guy Remond and Gary Fletcher, seasoned entrepreneurs with a track record of success, lead this ambitious fund, which targets pre-seed, seed, and Series A stages over the next three years." https://buff.ly/3YZ6ylY

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We have just posted a blog about 'SDR fund labels – what are we hearing?' It is too long to reproduce in full here, so I am sharing the first few paragraphs. (The full text is freely available via https://lnkd.in/erxVuefP ) === The adoption of #sustainable fund labels is big news at the moment, particularly as we approach the 2 December ‘Naming and Marketing’ deadline, which require additional caution when fund managers make sustainability related comments and claims. (See full #SDR rules) Much is changing, but a key driver of current activity is that unlabelled funds will no longer be able to use the words ‘sustainable, sustainability or impact’ (or similar) in their names – although the FCA announced temporary ‘flexibility‘ in September (essentially a four month extension) for relevant funds that had submitted an application to them amending disclosures in line with ESG 5.3.2R by 1 October 2024. Evidence that we have gathered from fund mangers suggests however that we are now in a period of immense activity and change. We have sought to capture this via a range of ‘SDR labelling’ filter options on our (open and free to access) Fund EcoMarket database. Some of the current key numbers (to date) are as follows: - 103 fund managers have told us they are working towards adopting labels for named funds (we view this as a likely underestimate). - 176 funds have told us they are ‘not eligible’. (It is important for financial advisers and others to understand that many funds are not yet able to use the new labels, for example because they are offshore). - The managers of 13 funds have told us they are ‘intentionally unlabelled’ – in other words, their funds are probably ‘in scope’ – and may well be appropriate for those seeking funds that take sustainability seriously – but the manager has decided not to pursuing a label at present. (This may relate to approval process concerns.) - Fund EcoMarket shows 2 labelled funds (we expect this to increase soon). (The funds are searchable on our database here https://lnkd.in/eEn9q5pA) What else are we hearing? We understand that around 11 funds have achieved labels. 2 of these are labelled as such on our database. Some funds have asked us to hold back their labelling status until they ‘go live’ (eg aligned literature / ready to press ‘go’.) Many strong funds are in the labelling process (which starts, in many cases, with the need to amend the fund prospectus) but are struggling to gain labels because of what we view as (sometimes rather extreme) teething issues. ‘Broad based’ (comprehensive, complex) sustainable funds appear to be the most affected. The FCA has listened to feedback and sought to ease these with a recent notice giving disclosure examples, however we believe there is more to be done in this regard if we are to maximize the potential benefits of SDR.

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