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In October 2014, fraud prevention software company Semafone received a £4m investment from BGF.
Semafone provides the fraud prevention software necessary for companies to securely take customer payments over the phone. Its technology masks the tones from a cardholder’s telephone and replaces them with an unrecognisable flat tone.
Semafone’s CEO Tim Critchley realised that after winning a major deal with BT, a big investment of outside capital would really help the company deliver, and so approached BGF.
BGF’s investment excited Tim, as well as the firm’s network of business contacts.
David Sear was already the chairman of Semafone, three years before BGF’s investment, and he continued in the role following the funding, as his relationship with Tim has been key.
Here, in The Telegraph’s Two’s Company series, David and Tim discuss how they valued BGF’s relationship with Semafone’s senior management team and how BGF supported David remaining as the company’s chairman following the investment: