Wider Oxford Technology Angel Network
New rules have been introduced governing who in the UK is allowed to make business angel type of investments. The new rules generally make it more difficult for people to qualify. For example, one way to qualify to be allowed to make angel investments is to self-declare as a ‘High Net Worth’ individual. But the definition of this has now become more difficult. One needs to have an income of £170,000 pa or surplus resources (not including house and pension) of at least £430,000.
Another means of qualifying is to have been a member of a business angel network for at least six months. For the last 30 years (or even 45 years if one includes Venture Capital Report, which started in 1978), Oxford Technology has operated a business angel network in that we have enabled the founders of businesses seeking capital, either to start or to expand, to present their investment cases to individual investors.
With the new legislation in place and the criteria required to be considered a high net-worth individual now having become more onerous, we have decided to formalise our network into WOTAN - the Wider Oxford Technology Angel Network.
There will be no fee or annual subscription. Six months after joining WOTAN, you will have been a member of a business angel network for six months and will be permitted to make business angel investments.