Oliver Cummings

Post 16 of 100 – SEIS/EIS Forms & Why the Order Matters I’ve seen more than one fundraising round collapse over this. Founders get investors excited, raise the money, but then… trip up on the SEIS/EIS paperwork or issue shares in the wrong order. Here’s the plain-English version: Step 1: SEIS1/EIS1 After you issue the shares, the company submits a compliance statement (online form) to HMRC. 1. For SEIS: you can only do this once the company has either traded for at least 4 months or spent at least 70% of the SEIS funds on the qualifying trade. 2. For EIS: you can only do this once the company has been trading for at least 4 months. Step 2: SEIS2/EIS2 HMRC checks your submission. If they’re happy, they authorise you to issue certificates to your investors. Step 3: SEIS3/EIS3 You then send each investor a SEIS3/EIS3 certificate - this is what they use to actually claim their tax relief. No certificate = no relief. The Order of Shares Matters If you’re raising under both SEIS and EIS: 1. SEIS shares must be issued first. 2. If done on the same day, SEIS must be recorded first in the board minutes and funds kept clearly separate (best to wait at least 24hours). 3. Get this wrong and your investors lose their SEIS relief. For underserved founders, this is one of those hidden admin traps nobody explains - but it can destroy trust with your investors if you miss it. This is Post 16 of 100. I’m on a 100-day challenge to share startup knowledge most underserved founders never get access to. If you know a founder who could benefit, please share this with them. If you’re unsure how these forms or the process apply to your round, you can book some time with me here: https://lnkd.in/e-mzr-7Z Question for you: Have you ever seen a round delayed (or lost) because of admin errors like this? Ethical Equity, AI Simulator, Denis Lindsay #100DaysStartupJourney #CamelReadiness

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Only 17% of MTUK member companies are female-led. And just 2% of VC funding reaches exclusively female-founded businesses. FemTUK is tackling this head-on with a panel event that goes beyond surface-level advice and delivers actionable insights female founders can implement immediately. Wednesday, October 1 | 6:00-8:00 PM | House of Music & Entertainment (H.O.M.E), London Our expert panel brings together: 🔹 Jane Clemetson FRSA - Angel Investor 🔹 Hannah Williamson - Senior Investment Manager, Edge VC 🔹 John Acquaviva - Managing Partner, Plus8 Equity You'll discover how different investor types evaluate opportunities – and the unconscious biases that often work against female founders. This isn't just about identifying problems. It's about creating the pathways and networks that turn innovative ideas into funded, scalable businesses. Open to all women in music tech, aspiring to be in music tech, and supporters of our mission. The evening includes drinks, networking, and connections that could transform your funding journey. Led by Charlotte Caleb, FemTUK is MTUK's space for female identifying founders or future founders to share, learn and discuss issues that often slow down or prohibit female founders from getting their idea to market. The link to reserve your spot is below in the comments ⬇️ #FemTUK #MusicTech #WomenInTech #VC #AngelInvesting #Diversity #Innovation #MTUK

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🌍💍 Unsure what value your foreign prenup would have if you divorce in England? When relationships cross borders, the same agreement can be treated very differently from one country to another. In our latest episode of Divorce Talks with Irwin Mitchell, we explore why understanding how your prenuptial agreement is viewed across different legal systems can be a significant factor when deciding which jurisdiction to divorce in, if you have a choice. ⚖️✈️ A prenup that carries real weight in one country might be treated very differently in another — and that difference can shape outcomes around finances, fairness, and peace of mind. 🎧 Tune in for practical insight with Charlotte Clewes, Legal Director at Irwin Mitchell, and get clearer on how to avoid cross-border surprises before they catch you out. https://lnkd.in/egFCia4z #InternationalDivorce #PrenupAdvice #FamilyLawUK #ExpatLife #CrossBorderLaw

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New research from Barclays Private Bank reveals a dramatic shift in how wealthy individuals approach philanthropy in the UK. But here's what stands out: - 81% of HNWIs say it's important for advisers to proactively discuss philanthropy. Yet only 33% report their financial adviser has done so. Hmmm. - Among 18-34 year-olds expecting to inherit wealth, 80% plan to give part of it to charity. They're data-driven, impact-focused, and already making significant gifts. So what does this mean for charity communications strategies? - Despite increased giving, 35% lack confidence in understanding how charities operate, 28% struggle to access clear impact information, and 25% feel overwhelmed by sector complexity. Another hmmm.... The opportunity is clear: donors want to give more strategically, but need better information, trusted guidance, and holistic wealth planning that integrates their philanthropic goals. For advisers, charities, and the philanthropy sector—the question isn't whether HNWIs want to give. It's how we can better support them to give with confidence and impact. #Philanthropy #WealthManagement #ImpactInvesting #Giving Aaron McNeilly Ryan Ginard, CFRE Heather Little MA FFIA Philanthropy Australia Maree Sidey Kim Harland Leigh Cleave FFIA CFRE Nigel Harris AM

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Big news for founders: SeedLegals has acquired The Pitch, the UK’s largest pitching competition for early-stage entrepreneurs. Since 2008, The Pitch has been connecting startup founders with active investors through its flagship programme, offering participants guidance and support as they refine their pitch to a panel of experts. Now with SeedLegals – the UK’s #1 closer of funding rounds – at the helm, startups can expect greater exposure, boosting both their brand reach and their chances of securing investment. And of course it will always be free to pitch. https://lnkd.in/d_MBgk8n

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Clean Growth Fund Secures £49 Million First Close of £150 Million Fund II to Accelerate UK Climate Tech. Clean Growth Fund, an early stage climate venture capital fund, led by Beverley Gower-Jones OBE FEI(Managing Partner), Jonathan Tudor(Investment Partner), Alasdair Greig(Investment Partner), Susannah McClintock (Investment Partner), Stephen Price(Investment Director), Gemma Fong(Chief Financial Officer), Maria Khan(Head of Compliance, ESG & Ops), Connor Duffy(Investment Manager), and Maya M.(Marketing Manager), secured £49 Million First Close of £150 Million Fund II to Accelerate UK Climate Tech. Two of CGF’s Fund I investors, including Strathclyde Pension Fund, have recommitted to Fund II and are joined by new investors Islington and East Riding LGPS, a powerful endorsement of the firm's disciplined, impact-led investment approach. Among the standout portfolio companies are Sunswap, Rendesco, and Above. Read More At: https://lnkd.in/gVFe7rMj Source: https://lnkd.in/gMs2i7wN

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Fundraising shouldn't require a survival strategy. At Daring Capital, we’ve always known that the power balance in fundraising is skewed. But our latest research with InChorus reveals a deeper, systemic "open secret" in the UK tech ecosystem. The numbers are a wake-up call:  🚨 75% of founders have experienced uncomfortable or inappropriate behaviour while raising capital. 🚨 Angel investors are cited nearly 2x as often as VCs for concerning conduct. 🚨 Over half of founders are now changing their behaviour: choosing safety over strategic fit. When founders have to self-censor or avoid specific investors just to stay safe, capital is no longer being allocated based on merit. This isn't just a "people problem", it's a market failure. "You don't report it. You just adjust." This quote from our survey should haunt the industry. We are calling for a collective reset. It’s time for clearer professional norms, shared codes of conduct, and real accountability, especially at informal Read the full report on the state of founder safety in the comments

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Stop moving "ask "client" for testimonial" onto next week's to-do list with an embarassed sigh! Check out my conversation on Ruth Tsui's Beyond the Launch panel with Laurie Kozan, Alan Brown, and Rachel Dunford - The Impact Specialist on how to gather effective social proof, why it's so crucial to growing your business, and when in a project to ask.

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Looking for clarity on your funding journey? 💫 Pathways to Funding is designed to guide ambitious founders through the complexities of raising capital. The programme offers: 👉Investor Intelligence – specialist advisors who understand early-stage and growth capital. 👉Funding Readiness Workshops – refine your pitch and narrative with confidence. 👉Northern Investor Hub – connect with a network of active investors committed to innovation in the North East. 👉Tailored Events & Clinics – practical sessions shaped around the challenges founders face. Together, these elements create a framework for founders to build confidence, sharpen strategy and strengthen investor connections. Find out more 🔗 https://ow.ly/7MJG50WUnnf Karl Murray Gary Lynch The North East Combined Authority

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A headline stat from the latest research from Philip Salter, Eamonn Ives and the team at The Entrepreneurs Network: of the United Kingdom’s 100 fastest-growing companies, 54 have a foreign-born founder or co-founder. We need to be open to immigration, but also ensure that we have a tax system which incentives wealth creators (read: job creators) to stay. Link to full report in comments 👇

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Only 1% of UK VC funding goes to all-ethnic minority founding teams. Just 0.2% reaches Black-led businesses. And Black women are still fighting for crumbs (0.02%). The Venture Forward Accelerator isn’t your typical tick-box programme. It’s investor-led. It’s Northern. And it’s built for the overlooked and sidelined. Whether you’re a founder from a low-income background, a woman, LGBTQ+, disabled, or from an ethnically underrepresented group — this is designed for you. ✅ 8 weeks of expert-led support, 1:1 coaching, and meaningful investor engagement ✅ Hosted in Manchester, with access to £50k–£150k in equity investment from GC Angels ✅ Focused on building long-term success, not just short-term headlines We need more diverse, regional founders to be seen, backed, and funded. Apply here: https://lnkd.in/eqCBFeM4 Open to UK Limited Companies registered in the North of England Please share with someone who needs to see this.

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A collaboration between the UK-based Impact Investing Institute and children’s charity Save the Children UK is seeking to amplify the growing interest among impact investors in child-lens investing. Hughie Stanley, programme manager at the Impact Investing Institute, talks to Impact Investor about the goals of this initiative. https://lnkd.in/eUFdA5eC

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What happens when funders pitch to founders for a change? At our latest Funding Focus Hour, we flipped the script - inviting three brilliant funders to share what they’re looking for (and how to stand out). Thanks to ✨ Aimée Bryan, UnLtd & The Growth Impact Fund ✨ Joanne Anderson, People's Postcode Lottery ✨ ...and the 122 community guests that joined us to listen to the pitches! They shared: ☀️ How each fund came to life 🗝️ What gets applicants through the door ⛔ Why most people get rejected (and how to avoid it) Here’s Esme talking through why we did it, plus 30-second a sneak peek into a couple of the pitches - from blended finance to global grant programmes to support founders with lived experience. Want to know when the next Funding Focus Hour is happening? Comment 'Keep me in the loop' and we'll send you the link to our free newsletter (where we announce all our events first). 💌 #ReverseFunderPitch #FundingFocusHour #AlternativeFunding #ImpactFounders #ConsideredCapital

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We often think of funding as a binary choice (VC or nothing). The smart companies use a mix of grants,debt and equity to retain ownership. 🔑 The Non-Dilutive options Grants (EIC, Innovate UK): Funds high-risk R&D and scientific validation without taking equity. Venture Debt: Extends runway and funds growth without giving up 20% of your company. Used best after a successful equity round. CVC/Corporates: Provides strategic capital that comes with other benefits: first customers and direct market access. PocketVC's Opinion: Never use equity capital to fund work that non-dilutive capital can cover. Use grants for science risk, debt for operational scale, and reserve equity only for market domination. Full guide on leveraging these non-dilutive options to preserve your ownership on the PocketVC blog. 👇 https://lnkd.in/eBeKrieH #AlternativeFinance #VentureDebt #FounderStrategy #PocketVC

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Well done to Charities Aid Foundation (CAF) for this timely addition to the conversation about philanthropy as part of a genuinely client-centred wealth stewardship offer. One stat really stood out to me: 60% of HNW individuals say it’s important that their adviser understands their philanthropy — yet up to two-thirds of HNW giving is still happening without any financial advice. That’s not a philanthropy problem, it’s a SERVICE GAP. Clients are already giving. They already care about impact, values and legacy. But many aren’t being supported to do it well, strategically or in a way that integrates with the rest of their financial lives, or their own requirements for impact. In conversations with professional advisers who are not yet on board with philanthropy as a service, I keep returning to the same point: philanthropy advice isn’t about pushing generosity. It isn’t “fluffy” or “nice to do” (genuine quotes). It’s about listening better, understanding what matters to clients, and stewarding wealth in a way that reflects the whole person not just the portfolio…something that in customer service terms will bring loyalty through generations. According to the report: advice firms provided comprehensive philanthropic advice, they could increase their client lifetime value by nearly 25% Bespoke advice is then the next step - Philanthropy and Impact Advisers are part of the advice chain. To me, expert values led Philanthropy advice isn’t about pushing ‘good’. It comes from deep-diving into how wealth was generated, understanding the impact it has, and where it may also cause harm. And, then stewarding it more responsibly across the philanthropy spectrum. That level of reflection is still relatively advanced in the world of wealth stewardship, and feels like a next step in this debate. But CAF’s research helps move the conversation from “should we talk about philanthropy?” to “how do we serve clients more fully?” Thanks to Mark Greer and Public First for their work. #philanthropy #socialimpact #privatewealth #wealthstewardship #socialinvestment

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Loved hosting our inaugural Soapbox Sessions drinks and fireside chat with K&L Gates last week at Dawn Capital's office. Michael Hutson gave us a superb download and Q&A on raising US venture capital for UK startups. Here are some of my highlights from the conversation: 🇺🇸 Lots of US VCs are looking beyond the AI hype cycle - e.g. still hunting for industry vertical plays 🇺🇸 Initiating the Delaware flip is not always essential to raise US dollars - investors can often back UK top cos or this can be completed in DD 🇺🇸 The largest VCs have a Euro presence or are sourcing in the geo - you don't necessarily need feet on the ground state-side to attract $$ 🇺🇸 Option pools and incentive plans are often where the biggest structural differences show up vs. across the pond As ever thanks to Tom Wallace for pulling things together on the KL side

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