Wednesday, 7 September 2016
Shadow Foundr's clarity is a little hindered by the poor light
There's a new kid on the block - Shadow Foundr.
This platform claims to be highly transparent and uses a network of HNW and Angels to back companies (to a min of 30%) before offering the deal to the crowd. Joining is even easier than Crowdcube.
It maybe. However a brief excursion on to their platform quickly produces some oddities. They have a pitch by Cityzenith which has already raised £1.1m from 21 investors. The platform states that the top three investment amounts are £69k, £34k and £24k, leaving the remaining total at £972k from 18 investors, all of whom must have invested less than £24k. You can see where this going.............................. that does not compute.
Mind you the company's press release did state -
"There will always be failures and people will always lose money, but through our model we are hoping to turn the statistics on their head."
Well they have certainly done that.
It's not encouraging. Why is this sector attracting such dross??