August 2017

  • Is DCF worth anything at all?

    Posted in August 2017 on Aug 18, 2017

    The good news, when investing in an unlisted company is that you should be furnished with significantly more information than a listed company can provide to investors. The bad news is that the justification of the valuation of the company for your investment is more often than not based on a Discounted Cash Flow analysis, or “DCF” provided by the company.

    The DCF is the cornerstone of most valuations of emerging growth companies and yet it is often nothing more than a little guesswork disguised by a huge amount of numbers across a vast spreadsheet. It is all too easy, therefore, to dismiss a ...

  • Risk and Reward in Emerging Growth Companies

    Posted in August 2017 on Aug 17, 2017

    Many people tell me that angel investment, or investing through a crowd-funding platform is more for a bit of fun than a serious investment exercise. They cite the very poor returns that they have experienced and, like the inveterate gambler in self-denial, almost always claim to be “broadly even”, which I translate to be “lost more than I care to admit to myself”.

    I have had my fair share of duff investments over the years but when I look back at those that have failed, and as my knowledge of investing in emerging growth companies has grown, I can see that a common theme running through much ...

  • Is Afaafa a regulated or non-regulated business?

    Posted in August 2017 on Aug 14, 2017

    Afaafa has recently received its registration from the Guernsey Financial Services Commission (GFSC) as a “Non-Regulated Financial Services Business”, which will allow us to work with a wider range of emerging growth companies in a broader fashion than we have done previously.

    It is an exciting milestone in the development of the business. Now that we have our registration from the GFSC, Afaafa can, and will, act in a purely advisory capacity to emerging growth businesses. Previously we have only dealt with companies in which we had a stake but for firms that did not need capital we were unabl...

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