The Carry
Notes from the UK cap table
An editorial brief on Britain's early-stage market. For the people doing the deals. Every Wednesday.
Notes from the UK cap table
An editorial brief on Britain's early-stage market. For the people doing the deals. Every Wednesday.
What you'll get
Reads
The note lands on a Tuesday and it is the good kind. Your best seed company has raised again, at a price several times the one you paid, and the founder has written with a warmth the quarterly updates never carry.
Read the issue →Every deck on your desk this month has grown a comparables slide it cannot quite back up, picked to make the ask in front of you look reasonable.
Read the issue →A founder asks you, over a coffee they insisted on paying for, what the tax relief looks like if you back them. For a long time that was a one-line answer.
Read the issue →Essentials
Plain-English explainers on how UK angel investing actually works: SEIS and EIS, term sheets, finding deals, and the rules that matter. Editorial, not advice.
Featured
Why The Carry
There's no shortage of writing about Britain's early-stage market. Most of it is recycled announcements, or write-ups kept friendly so the funds keep talking. The people writing the cheques deserve better, so we started The Carry.
We take no money from the funds we cover, and we don't run sponsored content dressed up as editorial. Every issue is written for the reader, not the room.
FAQ
Independent editorial on Britain's early-stage market: the rounds, the policy, and the thinking behind them. A six-minute read, every Wednesday. Free.
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