I received an email from my current investors this morning asking if we are interested in pursuing T1 Visa investment. Here's the relevant part of the text.
"As some of you may already, we are now working to bring you opportunities for investment from overseas investors (T1 Entrepreneur). These investors bring a minimum of £200,000 into the company, along with the relevant skills, qualifications, experience, and network to your specific industry. For the investor, they receive equity into an exciting new business, and a visa to work in your startup for the next 3-5 years."
I did a bit of research into the T1 programme this morning and it seems that, if we decide to go down that route, a few things would happen:
- £200k+ equity investment (good)
- Investor would have an executive seat on the board (could be good or bad)
- Investor would be required to work as an employee of the company and cannot work anywhere else (both positive and negative but seems risky)
I'm definitely going to investigate it further and explore it as a valid option for funding, but I'd like to get some feedback from the group on what things I should consider.
Has anyone else done this before? What advice does the group have for me?