How has this indicative share price been calculated?

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The current share price displayed beside a company in the portfolio is an indicative share price (except for companies with a "listed" status - see below). This is indicative because the majority of shares available through FUNDH3R are unlisted; because of this, they are unlikely to be traded on a regular basis and therefore an updated share price only occurs during a valuation event.

 

What are valuation events?

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Priced round - The most common valuation event is a new issue of shares to investors (i.e. a new priced equity funding round). In the event of a new priced round, FUNDH3R will update the share price when either i) a new filing at Companies House shows a substantive round has occurred ii) the company provides FUNDH3R with evidence of investment at that price (e.g. a subscription agreement) or iii) on completion of either a public round on the FUNDH3R website, or a pre-emption round.

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Convertible round - The nature of a convertible loan agreement (or advanced subscription agreement) is that the round is unpriced; the share price is set at the point of conversion. As a result, FUNDH3R will update the share price when the convertible converts at either i) the undiscounted valuation or ii) where applicable, the long stop valuation. (For more information about convertibles please see here).

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Insolvency - Unfortunately, not all companies that raise through FUNDH3R succeed. Where a company enters into any insolvency process, FDUNH3R will review the documentation provided to see if there is an indicative return. If this is the case, the share price will be updated to the expected return; if no indicative return is included, FUNDH3R will update the share price to zero.

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Exit - In the event that a company exits (whether at an increased or decreased valuation), FUNDH3R will be involved in the administration of the exit and any subsequent payment distribution. As part of this process, at the point the binding transaction documents are signed by FUNDH3R as nominee, we will update the share price to the price to be paid on exit.

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Company provided information - The above valuation events cover the vast majority of situations where a share price will change for an unlisted company. However, in the event that another valuation event arises and the company makes FUNDH3R aware, we will review the situation, request any evidence required, and update the share price accordingly.

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How accurate is this share price?

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FUNDH3R makes every effort to keep the share price data accurate and up to date. However, different companies at different stages may not have a valuation event for a significant period of time and as a result, the indicative share price may not change.

 

Exceptions

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Listed companies

The exception to this process is if the company status is "listed". In this case, the shares are listed on a recognised stock exchange and the price is determined on secondary trading. The share price displayed will be the price notified to FUNDH3R from our partner Seccl in the previous 24 hour period.

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Direct companies

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Certain investments may be “direct” with investors holding shares directly (and not through the FUNDH3R nominee). If the FUNDH3R Nominee is not a shareholder in the company, the amount of information available is greatly reduced and so no indicative share price is available. The price shown will instead be the amount you originally invested in that pitch.

 

Risk warning

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Investing in start-ups and early-stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution, and it should be done only as part of a diversified portfolio. FUNDH3R is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. You will only be able to invest via FUNDH3R once you are registered as sufficiently sophisticated. Please click here to read the full Risk Warning.

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The Female Network TFN Ltd is an authorised represented of a Principal authorised and regulated by the Financial Conduct Authority (FCA) . This page has been approved by FUNDH3R. Pitches for investment are not offers to the public and investments can only be made by members of FUNDH3R.com. If this page contains details of historical performance, investors should be aware that past performance is not a reliable indicator of future results. Further restrictions and FUNDH3R's limitation of liability are set out in the Investor Terms and Conditions.

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Please seek independent advice as required as FUNDH3R does not give investment or tax advice.