Image via WikipediaEalry this year, IQ Capital Partners “completed an MBO of NW Brown Group’s early stage investing activities, including the GEIF, one of the UK’s premier business angel networks. The new company will be distinguished by its unique relationships with “IQ Angels”, private investors with strong industry expertise, who can dedicate significant time, investment and expertise in support investments alongside IQCP.”
I have/had shares in GEIF but with the change in ownership from NW Brown Group to IQ Capital Fund I am not sure if my shares entitle me to a share of the carry percent in the funds. As I remember, the IQ Capital Fund was raised on the back of three groups of angels: GEIF (Cambridge angels), ONION (Oxford angels) and SWAIN (South West angels). Angels in each group were invited to make substantial investments in IQ Capital which was matched by a cap-funding from the tax payer.
Anyone know who is entitled to the carry percent on the IQ Capital Fund? Is it just the management company controlled by Nigel Brown or do all the angels who did the hard work over many years push forward their shares in GEIF to stake a claim? NB – we should be told!