We work on the basis of a trust arrangement between members. One nominated member will act as the share trustee for the group of angels who will invest in the company. This means one individual holding shares in trust for a few others (this is fairly common in the uk).

The single entity on the cap table would be the single nominated member.

This is slightly different from other “syndicates” of angels who might be operating under, for example, an SPV. The advantage to the VT model is that each individual angel is the beneficial owner of their own shares. This generally leads to each angel feeling more connected to the company and to your journey as founders than via a typical angel syndicate.

We often hear that the VT angels are the most value-add on the cap table, and this is supported in part by our structure.

Behind the scenes we have legal agreements in place with the VT members that support the trust arrangements and nominee structure.