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Venture capital and business angels

Learn about financing your business through venture capital and business angels with our selection of guides, links, books and articles.
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Latest on venture capital and business angels

Read our latest features and articles on venture capital and business angels.
The secret to accessing early-stage investment
  • Article
  • 22 May 2024
With a lending market changed by high interest rates and a proliferation of technology, we look at what start-ups can do to increase their chances of attracting venture capital investment.
Take your first step in finance with ICAEW CFAB
  • Article
  • 06 Mar 2024
Looking to secure a job in the financial sector? Two professionals working in Belfast explain how completing the ICAEW Certificate of Finance and Business helped them build fulfilling careers.
UK government responds to Treasury Committee venture capital reliefs report
  • Article
  • 25 Oct 2023
The response suggests that the current sunset clauses for the enterprise investment scheme (EIS) and venture capital trusts (VCTs) will be extended beyond 2025. However, the response also pushes back on some of the committee’s other recommendations, including extending the company age and funding limits for these schemes.
Commons Treasury Committee calls for greater diversity of venture capital investment
  • Article
  • 09 Aug 2023
The House of Commons Treasury Committee’s report into venture capital investment schemes recommends better support for female-led businesses and those outside the South East of England.
Access to funding: are angels still out there?
  • Article
  • 25 Aug 2021
Angel investors withdrew from any new funding in 2020, but things are looking up in 2021.
How the pandemic created the perfect ‘seed stage’ environment
  • Article
  • 23 Aug 2021
COVID-19 has encouraged more global investment, with European venture capital investments at a record high.
Venture capitalists ready to support high-growth businesses
  • Article
  • 13 Aug 2021
Dr Keith Arundale, Senior Visiting Fellow at the International Capital Market Association Centre and Non-Executive Director of Henley Business Angels, considers the prospects for venture capital firms
Exclusive The evolving role of the CFO
  • Article
  • 17 Mar 2021
Why FP&A is vital to the progressive CFO
Read more

ICAEW guides

The Business Finance Guide
  • Helpsheets and support
  • 2016
This independent guide draws on the expertise of partners from across the finance industry and business community to provide information on the financing options that may be available to entrepreneurs, startups and businesses at every stage of development.
Equity crowdfunding
  • Helpsheets and support
  • 2016
Equity crowdfunding provides companies looking for finance with a way to connect with vast numbers of potential investors, some of whom may also be customers.
Seed finance
  • Helpsheets and support
  • 2016
The initial capital used to start a business is seed finance. It often comes from the company founders’ personal assets or borrowings, but there are new entrants and approaches to seed-stage funding that can supplement this.
Venture capital
  • Helpsheets and support
  • 2016
Venture capital firms invest in businesses with the potential for high returns, such as those with innovative new technologies. They look for companies with a proven track record and the size of the investment will relate to the business stage.
Corporate venture capital
  • Helpsheets and support
  • 2016
Corporate venture capital describes a wide variety of equity investment from a corporation, or its investment entity, into a high-growth and high-potential, privately-held business.
Angel finance
  • Helpsheets and support
  • 2016
Business angels are individuals who make equity investments in businesses with growth potential, businesses in the early stages of development, or in established businesses looking for expansion capital. Angels back high-risk opportunities, with the potential for high returns.
Equity finance: Key considerations
  • Helpsheets and support
  • 2016
Support from the Business Finance Guide on what businesses need to consider when taking on equity finance.
What is equity finance?
  • Helpsheets and support
  • 2016
Clear, independent guidance on what equity finance for business is.

eBooks

The ICAEW Library & Information Service provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

Exclusive Private equity and venture capital
  • eBook
  • 2022
  • Serena Gallo, Vincenzo Verdoliva
  • Springer
This book summarises the theoretical background of private equity and venture capital industry; provides and updated overview in terms of volume and trends of private equity and venture capital; and includes practical examples of valuation in the private equity and venture capital industry.
Exclusive Valuation: measuring and managing the value of companies
  • eBook
  • 2020
  • McKinsey & Company Inc, Tim Koller, Marc Goedhart, David Wessels
  • Wiley
This latest edition has been revised and updated throughout, and includes new insights on topics such as digital, ESG (environmental, social and governance), and long-term investing, as well as fresh case studies. Clear, accessible chapters cover the fundamental principles of value creation, analyzing and forecasting performance, capital structure and dividends, valuing high-growth companies, and much more.
Exclusive Early stage valuation: a fair value perspective
  • eBook
  • 2020
  • Antonella Puca
  • Wiley
Addresses significant developments in the valuation of early stage enterprises at fair value with emphasis on practical applications--features a broad selection of case studies of early stage valuation.
Exclusive Mergers and acquisitions: a practical guide for private companies
  • eBook
  • 2007
  • Jonathan Reuvid
  • Kogan Page
Introduction to M&A for companies contemplating a merger or acquisition.
Exclusive Raising venture capital
  • eBook
  • 2006
  • Rupert Pearce, Adrian Wells
  • John Wiley and Sons
Guide to the fundamentals of the venture capital industry.
Exclusive Venture capital funding: a practical guide to raising finance
  • eBook
  • 2005
  • Stephen Bloomfield
  • Kogan Page
Deals with the process and consequences of raising venture capital for a business.
Terms of use

You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

More eBooks

Business press

The ICAEW Library & Information Service provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.
Exclusive The Silicon Valley Bank Hangover
  • Article
  • 03 Apr 2023
  • Lizette Chapman
The failure of venture capital’s favourite financial institution, the Silicon Valley Bank (SVB), is a sign of more trouble to come for the technology sector. SVB's failure can be seen as a symptom of problems in a venture capital industry hit by interest-rate hikes, says Joshua Brustein. As a consequence, startup companies are likely to have to start taking money on less attractive terms.
Exclusive Show us the money: A guide to raising capital
  • Article
  • 01 Feb 2022
  • Glenn Baker
Securing investor funding is the key to accelerating business growth, particularly for fledging ventures. NZ Business magazine shares advice from three of New Zealand's leading funding platforms, including tips on preparing for an equity crowdfunding campaign. As well as venture capital, an emerging alternative is 'venture-debt'.
Exclusive Costs and benefits of start-up funding
  • Article
  • 01 Nov 2021
  • Miguel Fernandez
A look at the financing options available (and pitfalls to avoid) for start-ups and midsize companies, including venture equity, corporate venture capital, venture debt and angel investors. A list of questions to ask when vetting potential investors is given.
Exclusive Venture capitalist decision making
  • Article
  • 01 Mar 2021
  • Pablo Boneu, Paul Gompers, Will Gornall, Steven N.Kaplan, Ilya A.Strebulaey
Following perhaps the most comprehensive survey of venture capital (VC) firms to date, the authors share their findings, offering details of how VCs hunt for deals, assess opportunities and structure agreements with founders.
Exclusive Diversity data on venture capital
  • Article
  • 23 May 2018
  • Diane Mulcahy
Ten British venture capital firms are to begin sharing gender diversity data on startups. The article includes the views of Alice Hu-Wagner of the British Business Bank on improving the investment process with data collection.
Exclusive Playing in the big leagues
  • Article
  • 01 Nov 2015
  • Michelle Goodman
Corporate venture capital funds are looking to invest in innovative startups. Here's how to attract capital investments from major companies.

Articles and books in the ICAEW Library collection

The collection of the ICAEW Library & Information Service includes a range of articles, books and reports on venture capital and business angels. Use the links below to see what we have available to request in our Library catalogue (Libcat).
Taxation of partnerships and private capital structures, 2nd ed.
  • Library book
  • 2024
  • D. Crossley, M. Baldwin
  • Sweet & Maxwell
An in-depth guide to the technical and practical UK tax issues around trading and professional partnerships and LLPs, as well as investment fund partnerships and related structures. Also covered are the associated special regimes, such as those for disguised investment management fees, carried interest and income-based carried interest.
Enterprise investment scheme: and other venture capital reliefs, 3rd ed.
  • Library book
  • 2024
  • A. Rainford
  • Claritax
A guide to the Enterprise Investment Scheme (EIS), Seed Enterprise Investment Scheme (SEIS), Venture Capital Trusts (VCTs), Investors' Relief, and Community Investment Tax Relief. In each case, the author looks at the range of tax incentives offered by the legislation, the conditions for relief, and any complicating factors.
Venture capital tax reliefs: the VCT, EIS and SEIS schemes
  • Library book
  • 2023
  • D.Brookes
  • Bloomsbury Professional
A detailed guide to the venture capital trust (VCT) scheme, the enterprise investment scheme (EIS) and the seed enterprise investment scheme (SEIS).
Selling your trading company
  • Library book
  • 2020
  • A.Lane
  • LexisNexis
A concise Tax Digest covering: the process and planning that may be required to prepare a business undertaken by a company for sale; the tax implications that may arise when preparing a company for sale; and the tax implications of selling a business.
Financial management for technology start-ups: a handbook for growth
  • Library book
  • 2017
  • A.Bhimani
  • Kogan Page
A book to help you with the specific know-how required to successfully manage costs, track profit opportunities and monetize your tech start-up.
Private equity: law and practice
  • Library book
  • 2015
  • D.J. Cooke
  • Sweet & Maxwell
This book covers the major legal and business aspects of funding via private equity.

To find out how you can borrow books from the Library please see our guide to borrowing books.

You can obtain copies of articles or extracts of books and reports through our document supply service.

External resources - Government funding

Enterprise Capital Fund Programme (ECF)
  • Website
  • British Business Bank
UK government scheme encouraging innovation in small businesses by providing funding to venture capitalists and business angels investing in high-growth SMEs.
Seed Enterprise Investment Scheme (SEIS)
  • Website
  • Seed Enterprise Investment Scheme
A form of tax relief for investors in small companies, introduced by the government in 2012. The SEIS scheme is intended to benefit early stage companies which find it difficult to raise money.
Terms of use

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided 'as is' with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

External resources - Organisations

Business Venture Capital Association (BVCA)
  • Website
Industry body and public policy advocate for the private equity and venture capital industry in the UK. The site includes information on training courses and events, useful guides to the sector and a directory of members (there is a charge for non-member access).
European Business Angels Network (EBAN)
  • Website
Non-profit association serving European business angel and seed fund networks. Resources include reports, glossary and directory searchable by location.
Invest Europe
  • Website

Organisation representing the European private equity and venture capital industry. Invest Europe promotes private equity investment to investors, policy makers, entrepreneurs and industry. Resources include statistics, surveys and a monthly publication. The following search tools are also available:

UK Business Angels Association
  • Website
The national trade association representing angel and early stage investment in the UK. Its website features fact sheets, legal guides, industry news, market research, and a directory of members and services.
Terms of use

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided 'as is' with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

External resources - Directories

Business Angels (Australia)
  • Website
  • Business Angels (Australia)
Introduction service for firms and private investors that provides a central register of angel investors and businesses.
Business Angels Netzwerk Deutschland (BAND)
  • Website
  • BAND
Directory for Germany, supported by the German government.
Eqvista's Best 100 active venture capitalist firms for start up funding
  • Website
  • Eqvista
Listing of 100 active venture capital firms start-up businesses can reach out to for funding.
Pratt's Guide to Private Equity and Venture Capital Sources
  • Website
  • Private Equity International
Hard copy directory of private equity and venture capital firms.
Terms of use

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided 'as is' with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

External resources - Databases

Capital IQ
  • Website
  • S&P
Subscription product from Standard & Poor's with data on private equity funds and other investment information.
Preqin
  • Website
  • Preqin
A subscription-based service providing data and analysis of private equity.
Terms of use

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided 'as is' with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

External resources - Publications and news

IPEV Valuation Guidelines
  • Website
  • IPEV
The International Private Equity and Venture Capital Valuation (IPEV) Guidelines set out recommendations, intended to represent current best practice, on the valuation of Private Capital Investments. The guidelines were developed by the Association Française des Investisseurs en Capital (AFIC), the British Venture Capital Association (BVCA) and the European Private Equity and Venture Capital Association (EVCA).
Real Deals
  • Website
  • Real Deals Media Limited
Private equity and venture capital news and subscription-based data service.
Startups.
  • Website
  • Startups.
Online resource for those starting or running a small business. The website includes start-up guides for over 50 different business sectors, business start-up news, success stories and advice on finding finance and recruiting and managing staff.
The Deal report
  • Website
  • Beauhurst
Beauhurst's annual summary report analysing UK equity investment activity over the past decade, to help you spot emerging trends and patterns in the market. Requires free registration.
Venture Pulse Report - UK
  • Website
  • KPMG
KPMG insights into UK venture capital (VC) trends to look out for, reporting on the level of VC investments into UK businesses.
Terms of use

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided 'as is' with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

External resources - Atom Content Marketing guides

Business angels
  • Website
  • Atom Content Marketing
Finance of £25,000 to £750,000 can be surprisingly difficult to obtain. Banks generally require security and many venture capital firms are not interested in financing these amounts. This MoneyDonut guide covers which businesses are suitable for angel investment, finding an angel, pitching to investors, the right business angel and the investment process.
Essential guide to financing your start-up business
  • Website
  • Atom Content Marketing
The right start-up financing gives your new business a solid financial base. It makes sure you have the funding to cover your short-term needs and to make the most of opportunities to grow.
Finance your high-growth business
  • Website
  • Atom Content Marketing
Whether you need to invest in developing new products and approaching new markets, or fund increasing levels of working capital as sales increase, the right financing lets you make the most of your growth potential. This MoneyDonut guide covers your growth finance needs, investigating potential grants, bank finance, investment finance, getting your business investment ready, preparing your business plan and agreeing the financing.
Get help setting up and running a business
  • Website
  • Atom Content Marketing
There is a huge range of help available to help you deal with the challenges of starting your own business and make the most of your opportunities. This StartupDonut guide covers identifying the support you want, using business support organisations, finding financing and financial support, getting the right advisers, building your network and finding practical support.
Venture capital
  • Website
  • Atom Content Marketing
Venture capital (also known as private equity) may be the answer if you need additional finance but are unable or unwilling to increase your borrowings. This MoneyDonut guide covers venture capital criteria, the drawbacks, types of finance, approaching venture capital firms, the investment process and using advisers.
Terms of use

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided 'as is' with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

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