Modwenna Rees-Mogg has been involved in the world of angel investing for a couple of decades. As the founder of AngelNews, a news service focus on this area, she had a wide perspective on the market and the trends within in.
We spend the first half of our discussion talking about the angel market and its structure. She discusses the rise in "tourists", how experience investors have recently been cautious and what effect will have. We touch on syndicate structures and whether investors are getting value for money.
In the second half we discuss the prospects for the market, and valuations in particular. Modwenna is quite bearish on the near future: we discuss why this might be and what is likely to happen.