AngelLoop condemns LaunchVic decision in the highest order to funding and encouraging retail investors to invest via crowd-sourced equity funding platforms and calling it “Angel Investing” This is not in anyway Angel Investing! It is encouraging working class Victorian’s to throw their hard-earned money down the drain on a political wim. This is an exteme activity that carries a greater than 65% chance of losing your money and condemning the startups involved to (a almost) 0% chance of ever receive follow-on VC funding. Stop this complete insanity and start talking to the national Angel Community on programs that have proven to work. AngelLoop in partnership with Melbourne Angels Inc is working to replicate what we have successfully done in Queensland and built a strong co-operative Angel Investing community across Victoria. The key to the program is the “Qualified Startup Investor“ course to ensure that ALL investors are sophisticated and understand and can manage the risks involved to be able to reap the lucrative benefits and get the ESIC tax concessions. Victorian course dates will be announced shortly. Interested in building your own NFP Angel (Syndicate) Group in Victoria and access the National Deal flow (+20 Angel Groups) then IM me.
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Adrian Bunter
7mo
Simon Horne I think you might find the grant is related to building an Angel Investing network as part of the ecosystem. Birchal has a substantial number of sophisticated investors on their platform. Any increase in angel investment by sophisticated investors is positive for the ecosystem. There is nothing about this that needs to be condemned!
The concerns raised about the risks of crowd-sourced equity funding are valid. Educating investors is crucial, especially in today’s climate. Simon Horne
Dennis Murphy
7mo
Interesting, I had no idea about the 0% chance of follow on VC funding!
Operational Petroleum & Reservoir Engineer | Well Surveillance and Simulation expert | Economic Modeling | Helping start-up founders become fundable | Angel Investor | Investor due diligence | CXO
7moBirchal appear to chage A 7.5% fee in addition to other fees. That is very substantial, the more money birchal raises via crowd funding the more money they make, they have no financial benefit to ensuring or helping the startups that use their platform actually succeed as a business beyoned raising capital and charging their fees.