Nicola Horlick “City Superwoman” Shares Insight into Peer Lending & Crowdfunding

Nicola Horlick Crowdfunding is the Future

Nicola Horlick is a well known name in the halls of finance in the United Kingdom.  Nicola captured the title of City “Superwoman” as she balanced on the high wire act of an elite career in finance while simultaneously raising six children.

After starting at SG Warburg & Co. in the 80s,  she moved to Morgan Grenfell where she became Managing Director of the UK investment business – holding that position from 1992 to 1997.  During her tenure at Morgan Grenfall, assets under management rose from £4 billion to £22.5 billion – a sizeable achievement.  Since departing Morgan Grenfell, Nicola has gone on to set up multiple investment funds and various companies.  Most recently she has embraced the disruptive innovation of investment crowdfunding. Her involvement in crowdfunding has included having run several campaigns on the Seedrs platform.Nicola Horlick Quote

Almost a year ago Nicola announced an equity crowdfunding campaign to raise £150,000 for 10% equity in a new venture titled Glentham Capital Fund Management.  The startup was originally launched to create investment funds to finance Hollywood films. The Guernsey listed Glentham fund was seeking to raise $100 million from UK and overseas investors. Nicola stated at the time:

”I’m a great fan of crowdfunding and I think it’s going to become a bigger and bigger thing in the equity space and indeed in the debt space… I think for pure startups it’s an excellent way for raising money because each person is putting in a relatively small amount, hopefully no more than they can afford to lose. And from the point of view of the company raising the money [Seedrs] is incredibly efficient because instead of dealing with lots and lots of small investors they’re dealing with just Seedrs – so one nominee, which makes life an awful lot easier for the company.”

“I’m very keen on this way of raising money for companies, generally, and it seemed to me when I needed to take the next step with my film business that this was a logical way of doing it.”

Money&CoSince that initial round of crowdfunding for Glentham, she has crowdfunded a London restaurant “Times Place Brasserie” – raising another £150,000 closing this past January.  She also announced her involvement in Money&Co – shifting some of her firepower to the booming peer to peer (P2P) lending space.  Money&Co launched this past April.

Finally Nicola revealed that Glentham was going to expand its charter by creating funds to invest in other industries.  Crowdfunding now for the second time on Seedrs, Glentham is seeking £450,000 in equity as she hopes to grow the fund from $100 million to $250 million.  The expanded operation will set up targeted funds with at least one focusing on the P2P space – an Glentham Capitalinteresting combination in light of her involvement with Money&Co.

As with many a project there have been some stumbles, recently CityAM reported that investors in the new Glentham funding round had been confused about the progress of the venture – to the point where Seedrs management needed to step in.  Nicola took the polemic in stride and stated:

“One of the reasons I have stopped investing in publicly listed companies is that shareholders are often not engaged. With private companies, you can see the figures on a regular basis and talk through things with management.”

“I have no problem with the questions from potential investors on the Seedrs site and it certainly hasn’t put me off equity crowdfunding.”

Nicola has been a very busy businesswoman. Recently Crowdfund Insider was able to catch up to the financial whirlwind to gain some insight into her many projects.

________________

Crowdfund Insider:  Please share how you decided to launch your first equity crowdfunding round for Glentham Capital?  Why did you not go the traditional Jeff Lynn on Bloombergroute?

Nicola Horlick:  I am also the Chairman of Rockpool Investments LLP.  I hosted a lunch for Rockpool and Jeff Lynn from Seedrs was the guest of honor. He described how Seedrs worked and after the lunch, I mentioned Glentham Capital.  We decided to put Glentham on Seedrs and 10 days later the campaign was launched.  £150,000 was raised in 22 hours.  I did not even consider the “traditional” route.  I wanted to see at first hand if crowdfunding worked and it clearly did in this case.

Crowdfund Insider:  The share price for the 2nd round has increased from £10 to £12.  Please share the progress made at Glentham that justifies the higher valuation.

Nicola Horlick: We are a long way down the road in terms of launching the first fund, Glentham Film.  We have an anchor investor who wishes to invest $20 million when the documentation is ready.  There is no absolute guarantee that they will invest as nothing is signed, but they remain very enthusiastic.  We feel this is sufficient progress to justify increasing the share price  

Crowdfund Insider:  You have launched a Peer to Peer lending platform – Money & Co.  What do you see as the future of P2P?

Nicola Horlick:  Crowdfunding is the future in my view.  Money&Co. is a person-to-business lending platform.  The lack of finance available to SMEs from the banks has been well documented.  This situation is unlikely to change for many years due to the regulatory constraints being placed on banks domestically and by the European Union (EU).

We see peer-to-peer (P2P) as a phrase applicable to genuine peer crowdfunding – individuals seeking support for a charitable purpose, etc. Money&Co. is all about bringing individuals together with businesses. As such, it it is person-to-business (P2B) crowdfunding.​

This means that good companies do not have access to debt through traditional means and P2B lending is the only answer for many.  In the US last year, $5 billion of P2B loans were financed through internet based platforms.

Crowdfund Insider:  Will Money&Co. expand beyond the shores of the United Kingdom?

Nicola Horlick:  Yes, it is our intention to go to the United States initially and then to other territories. Our platform was built to be global and multi-currency. 

Nicola Horlick Glentham CapitalCrowdfund Insider:  You state that Glentham is broadening the type of funds they manage.  Will you be launching an equity crowdfunding fund (investing in equity crowdfunding offers)?

Nicola Horlick:  We have not considered that. There are many opportunities for Glentham Capital and we will be examining these when we have finished raising the initial fund. 

Crowdfund Insider:  Glentham will be investing in Money&Co. loans.  Will you be investing in other P2P platforms?  Outside of the UK?

Nicola Horlick: Glentham Capital is examining the possibility of launching a fund investing in person to business loans, which could be sourced from Money&Co. and/or other platforms.  Initially the loans will be UK only.

Crowdfund Insider:  How do you feel about the regulatory approach by the Financial Conduct Authority (FCA) with P2P?  What about towards equity crowdfunding?

Nicola Horlick: The  FCA has taken a pragmatic approach, which I welcome.  Some regulation is necessary, but if it had been too heavy handed, it could have killed the nascent industry which this country desperately needs. There should be tougher regulation for equity investment. 

Crowdfund Insider:  You did an equity crowdfunding round for a restaurant in London.  How is that project going?

Nicola Horlick:  We are still looking for a site. The amount of “key money” that has to be paid has shot up as a result of the economic recovery, so we have been careful not to overpay.  We are looking at a potential site at the moment and will know shortly if we have been successful.  If not, I will consider returning the money to the investors.  I would rather do that than overpay.

nicola horlickCrowdfund Insider:  Where do you see this new world of finance going?  Are traditional banks done for?

Nicola Horlick:  We need alternative sources of finance and traditional banks.  At the moment, 92% of lending to SMEs comes from the banks.  I expect  more lending to come from alternative sources such as person to business lending platforms in the coming years.

Crowdfund Insider:  You have been very busy with Money&Co., Glentham Capital, etc.  Do you have any other projects in the pipeline?

Nicola Horlick:  No! I have more than enough to be getting on with.

 


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  • jack loach

    Sods —–
    Law.

    April.—-
    2015.

    For almost two
    decades we have strived to get justice for the injustice we have
    suffered at the hands of a world renowned bank— PICTET & CIE.
    BANK.

    Two yorkshiremen
    both running their own small family businesses trying to resolve the
    problem by taking all the correct legal procedures to recover their
    monies.

    The matter was
    raised in Parliament – twice– the FSA investigated the matter
    concluding that PICTET had rogues operating in their London Bank —
    but the rogues had left —saying no one left to prosecute.??? —–
    so there.

    We then
    approached the Financial Ombudsman Service. (FOS) — our case was
    dealt with by seven different people —- then our numerous E-Mails
    were ignored — nobody would speak to us ——-so there.

    We then asked the
    SFO ( Serious Fraud Office.) to investigate our case —- the
    criteria of our case ticked all their boxes. — we were instructed
    not to send them

    any
    documents/evidence.—— in fact they wrote to us advising us to go
    to the Citizen’s Advice Bureau.(CAB.)

    Richard Alderman
    the SFO boss —- who responded to our letter was the same man who
    would not investigate the “ Madoff” scandal or the “Libor”
    fiasco.

    The MP’s
    committee —- said he was sloppy— and the SFO was run like “
    Fred Karno’s Circus” —– it was an office of fraud.—– so
    there.

    Our M.P.
    approached our local Chief Constable to investigate—– he was
    called—- Sir Norman Bettison— Chief Constable of West Yorkshire
    Police —- a force that made “ Dad’s Army” look like the S.A.S.
    They were inept – corrupt —malicious — from top to bottom. We
    were criminally dealt with by the Forces Solicitor—- the Head of
    the Economic Crime Unit —-and the Chief Constable —– so there.

    We were then
    advised to pass our complaint against West Yorkshire Police to the
    I.P.C.C. – which we did — they advised us to make our complaint
    to —- the West Yorkshire Police — we did with reluctance — all
    we got was abuse and obfuscation. —– so there.

    Sir Norman
    Bettison —- The Forces solicitor— and the Head of the Economic
    Crime —- have all been removed from their posts and facing criminal
    allegations.

    —— so there.

    We even sought
    justice through the Courts — culminating in a visit to the Court of
    Appeal-London.— On leaving the Courts of Appeal that day our
    barrister a “rising star” informed us — that if that was
    British Justice then you can keep it. He quit the law and moved to
    Canada —– so there.

    A few years later
    we learned that one of the judges ( Lord Justice.) in our case at the
    Court of Appeal was related to a senior executive of the Pictet Bank
    —–so there.

    The Ministry of
    Justice passed our case to Lord Myners to investigate — we would
    rather have had Mickey Mouse or Donald Duck do it. — to this day we
    don’t know

    —whether he did
    anything or not —- probably not — seeing that his wife was on the
    Pictet Prix Board.

    Pictet & Cie
    .Bank — voted private bank of the year 2013.

    Ivan Pictet —-
    Voted banker of the year 2012. —- the senior partner — lied on
    numerous occasions and had documents destroyed — also said genuine
    documents were forgeries. —– so there.

    Ivan Pictet in
    Oct. 2013 —- Given the Legion of Honour — but saying that —-
    honours were given to Hitler — Eichmann — Mussolini —Franco
    — he’s in fitting company. —-so there.

    MONTY
    RAPHAEL.Q.C. — Peters & Peters.London. They were the banks
    lawyers.

    Monty
    Raphael.Q.C. along with Ivan Pictet withheld crucial documents
    requested by the High Court —- the FSA —- and the police Fraud
    Squad. —-so there.

    Monty
    Raphael.Q.C. became an Honorary Queens Counsellor in March. 2012.

    Monty
    Raphael.Q.C. became a Master of the Bench in Nov.2012.

    An expert in
    Fraud —the Doyen of Fraud Lawyers. —– so there.

    This says a lot
    about Banks — and their lawyers –the consensus of opinion is that
    they are highly paid “crooks” —- no wonder they voted Ivan
    Pictet banker of the year. — and Monty Raphael a Queens Counsellor
    – “crime does pay”?

    It appears that
    crimes in the “establishment.” are honoured by their peers.

    “HONOURS
    AMONG THIEVES.”

    Full Story.—-
    “google ”

    Insert.—– The
    Crimes of —– Pictet & Cie Bank.

    or
    insert

    Ivan Pictet/
    Monty Raphael Q.C.

  • jack loach

    Swiss Bank
    Accounts. April. 2015.

    Is your monies safe
    in these accounts —- definitely NOT.

    Would you get your
    money back if every body decided to withdraw all their accounts –
    NO WAY.

    Economic Experts
    say that there would only enough money to repay 50% of their clients.

    Are you going to be
    in the 50% — that loose your money.– Get it out NOW.

    2012 — – June.
    — Published in Anglo INFO .Geneva.— USA Trust Fund Investors were
    sent false and fraudulent documents by Pictet Bank.Switzerland. in
    order to collect large fees. ( Like MADOFF) —Even after the SEC in
    the USA uncovered the fraud Pictet continued to charge fees and drain
    whatever was left in these accounts. Estimated that $90,000,000
    million lost in this Pictet Ponzi scheme.

    2012 – – – July.
    — De – Spiegel. — states – Pictet Bank uses a letterbox
    company in

    Panama
    and a tax loophole involving investments in London to gain

    German
    millionaires as clients.

    2012
    – – – August —- German Opposition Leader accuses Swiss Banks of
    “organised crime.”

    All
    the fines that crooked Swiss banks have incurred in the last few
    years exceeds £75.Billion.

    It
    is also calculated that the secrecy ” agreements” with
    regards to tax evation by their clients will cost the banks another
    £450 Billion.( paid out of your monies.).

    The
    banks are panicking — the are quickly restructuring their banks
    —- from partnerships —

    to
    ” LIMITED COMPANIES.” —– this will probably mean that
    in the future — they could

    pay
    you only 10% of your monies ” if you are one of the lucky ones”
    —- and it be legal.

    Google
    —- The Crimes of —- Pictet & Cie Bank.

  • IAN YOUNGMAN

    You forgot to ask the tougher questions as Horlick has a track record that is up and down.Disaster tends to follow her.

    1997 sacked by Morgan Grenfell

    2014 closed her London bistro after 18 months

    eg, Why was she reportedly trying to sell her share in Money for an inflated price befofe it had done a single loan?

    eg She blamed minions for investors in her company lost $12 million in fraud to Bernie Madofff- they got nothing back from the jailed Madoff, or from Horlick

    If you are going to pretend to be a journalist rather than an advertising site you need to do your research in advance and ask questions which are relevant to all potential users of her businesses.

    Some City specialists think she is a goddess, others think she is toxic.

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