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As an angel investor you want to go along for the ride and stay around for the big sale. But so many entrepreneurs want the investor to give them a “leg-up” and then wish to drop them when business gets galloping along.
Michelle Mone (37), joint founder with her husband of MJM International started her Ultimo lingerie brand in 1996 after she was made redundant. It took three years to get going and now Ultimo is national brand and in 142 Debenhams stores.
Come 2009, she and her husband bought out the early investor who owned 25% of the business at a reported valuation of ~£50million. A good return but more information on the business plan would let us understand whether the investor wanted to leave or was gently nudged aside. I wonder which business plan resource they use to provide an option scheme for the 41 people in Glasgow and 51 in Hong Kong plus the over 1,400 people in China? Or perhaps they don’t!