var question = new Array();
var answer = new Array();

question[1] = "What is Seraphim?";
answer[1] = "Seraphim is an unregulated UK-based £30 million early stage venture fund. It is a 10 year closed end fund.";

question[2] = "What is different about Seraphim?";
answer[2] = "The definition of Seraphim is the \"higher order of angels\". This name is respresentative of the international consortium of business angel groups that the fund brings together. Traditionally business angel networks operate on a localised geographic basis. They are a service for business angels seeking to recycle their wealth by funding and assisting local businesses.<br /><br />The Seraphim fund is a unique mechanism for groups of high net worth and sophisticated private investors to formalise their existing loose networks. Through the consortium approach Seraphim leverages members of each network cross border. This enables a more accurate matching for the needs of investee companies simply by having access to a broader pool of business angels.";

question[3] = "What type of fund is Seraphim?";
answer[3] = "Seraphim is an Enterprise Capital Fund (ECF). The UK government has identified an equity gap specifically in the £0.5m to £1.5m deal size range and is seeking to address this by the introduction of Enterprise Capital Funds (ECFs).<br /><br />The ECF programme is a variation of the US Small Business Investment Company (SBIC) model, which has backed the growth of successful companies such as Apple, Intel, FedEx and AOL.<br /><br />Seraphim is a privately manage fund that leverage private investment with public funds. The Government has provided low cost loans leveraged as £2 for every £1 of private investment. The Government money is lent to the fund at rates of interest similar to those applicable to other government bonds. Once a fund has a suitable cash flow, the Government interest and loan is repaid.<br /><br />By leveraging up returns on those investments that are more successful, the structure of ECFs will enable a realignment of risk and reward for investors. We believe this will make it far more attractive to invest in early stage companies.<br /><br />For more information <a href='http://www.berr.gov.uk/whatwedo/enterprise/enterprisesmes/info-business-owners/access-to-finance/enterprise-capital-funds/page37661.html'>click here</a>";

question[4] = "Where does Seraphim's funding come from?";
answer[4] = "£10 million has come from a consortium of business angel networks and corporate venturers. The remaining £20 million comes from low cost government loans. To find out more about Seraphim's partner organisations, please <a href='partner_orgs.php'>click here</a>";

question[5] = "Where does Seraphim have offices?";
answer[5] = "Seraphim is head quartered in London. It also has satellite offices in the Midlands, the North East, Scotland and in the US (Washington). Please <a href='contact.php'>click here</a> for contact details and directions";

question[6] = "What type of companies does Seraphim invest in?";
answer[6] = "Seraphim typically invests in early stage companies with highly scaleable, disruptive technology that are addressing large global markets. The fund is seeking companies with a fully developed product (or service) that has already been validated through sales to a number of blue chip customers. Please <a href='approach.php'>click here</a> for more information about the types of businesses the fund invests in.";

question[7] = "What types of companies can't Seraphim invest in?";
answer[7] = "Seraphim can only invest in companies operating as a qualifying trade under EIS rules. This means that the Fund can not invest in businesses operating in the following sectors:<ul><li>Companies dealing in land, commodities, futures, shares or other financial instruments</li><li>Financial, banking or insurance companies</li><li>Companies receiving royalties or license fees other than in certain cases, such as in connection with film production or research and development</li><li>Professional organizations providing legal or accountancy services</li><li>Property asset-backed companies, such as hotels, property development or farming</li><li>Companies dealing in goods, other than in the course of an ordinary trade of retail or wholesale distribution</li><li>Providing services to another company, in certain circumstances, where the other companies trade consists to a substantial extent in excluded activities</li></ul>";

question[8] = "What sectors does Seraphim invest in?";
answer[8] = "Seraphim is a generalist fund the invests across most sectors. Below is a breakdown of all the companies Seraphim has engaged with by sector:<table><tr><td><li>Telecoms:</li></td><td>17%</td></tr><tr><td><li>Software:</li></td><td>14%</td></tr><tr><td><li>Security:</li></td><td>14%</td></tr><tr><td><li>Media / Internet:</li></td><td>10%</td></tr><tr><td><li>Life Science / Biotech:</li></td><td>10%</td></tr><tr><td><li>Business Services:</li></td><td>10%</td></tr><tr><td><li>Medical:</li></td><td>7%</td></tr><tr><td><li>Robotics:</li></td><td>3%</td></tr><tr><td><li>Gaming:</li></td><td>3%</td></tr><tr><td><li>Other:</li></td><td>10%</td></tr><table>";

question[9] = "Where can Seraphim invest?";
answer[9] = "Seraphim invests in companies across the UK. The Fund can only invest in companies that are head quartered in the UK";

question[10] = "What stage does Seraphim invest?";
answer[10] = "The Fund is non-stage specific and considers investment opportunities across early stage, development, and turnaround stages. Rather than focusing on what stage the investment opportunity is at, the Fund prefers to gauge companies against a series of criteria. To find out more about what criteria the Fund looks for, please <a href='approach.php'>click here</a>.";

question[11] = "How much does Seraphim invest?";
answer[11] = "Seraphim invests between £0.5 million and £2 million in the first round of investment, and up to £3 million pounds into any one company over the life time of its investment. The Fund typically looks to invest c.£1 million in the first round, and then seeks to follow this investment in any subsequent rounds of investment. Seraphim can only participate in first rounds of up to £2 million - ie the company can only be seeking to raise £2 million of equity in its current round of financing.";

question[12] = "How much equity does the Fund look to take?";
answer[12] = "The amount of equity the Fund looks to take in return for its investment varies from company to company. The Fund would typically look to achieve a significant minority stake, but will in certain circumstances take a majority stake or even acquire companies.";

question[13] = "Do you sign Non Disclosure Agreements?";
answer[13] = "It is our policy not to sign other people's non disclosure agreements (NDAs). This is because given the volume of business plans the Fund receives, it simply isn't practical to sign NDAs. If the investment opportunity is of interest and we engage with the company, we may consider signing our own NDA, which is based on the British Venture Capital Association's (BVCA) industry standard NDA. Our advice to any company concerned about confidentiality is to not include any really sensitive information in their business plan.";

question[14] = "How long does it take to complete an investment?";
answer[14] = "Seraphim prides itself on completing investment quickly. From the point of agreeing terms and commencing due diligence, it can take as little as 6 weeks to complete an investment. To find out more about Seraphim's investment process, please <a href='process.php'>click here</a>";

question[15] = "What credentials does the Fund have?";
answer[15] = "The team behind Seraphim is drawn from some of the most experienced early stage investors from across the US and the UK. In total the Seraphim team has invested c.£1billion into c.500+ companies over the last 30 years. To find out more about the people involved in the Fund, please <a href='team.php'>click here</a>";

question[16] = "What representation does the Fund take with its portfolio companies?";
answer[16] = "Seraphim looks to appoint one of the business angels from its network as the Fund's representative non executive director (NED) to the board of each company it invests in. Seraphim refers to these individuals as 'lead angels'. To find out more about Seraphim's network of business angels and how they can help your business <a href='our_network.php'>click here</a><br /><br />Seraphim also usually looks to appoint an observer who can attend board meetings, but not vote. These observers are drawn from within the <a href='team.php'>Seraphim team</a>.";

question[17] = "What is a 'lead angel'?";
answer[17] = "A lead angel is the business angel who invests alongside Seraphim and joins the board of the portfolio company as Seraphim's representative non executive director (NED). This business angel has been drawn from, or sourced by, <a href='our_network.php'>Seraphim's network</a> which includes more than 1,000 leading business angels, consisting of some of the most successful and influential business leaders from across both the UK and America. They are typically industry heavyweights who have already successfully built and sold their own businesses and are now looking to leverage their contacts and experience to help other exciting early stage companies to access new customers and new markets.";

question[18] = "How can Seraphim help me grow my business?";
answer[18] = "Seraphim is backed by a consortium of some of the leading early stage investors, including the UK's largest early stage investor and the leading business angel networks in the UK, Silicon Valley and on the US East Coast. This consortium has many benefits that are unique to Seraphim.<br /><br />Seraphim's network of 1,000+ business angels gives companies access to some of the most successful business people in both the UK and the US. Seraphim looks to use this network to help its portfolio companies forge contacts with high level executives at blue chip potential customers, help identify high calibre staff and also assist in expansion outside of the UK.<br /><br />Through its <a href='partner_orgs.php'>partner organisations</a>, Seraphim can also help its portfolio companies access a further range of funding including asset financing, invoice financing and venture debt, as well as traditional venture funding of up to £8 million.<br /><br />Seraphim also offers all of its portfolio companies the opportunity to join a procurement scheme that provides access to substantially discounted goods and services by virtue of the scheme's aggregate buying power. Discounts are available on IT & Telecoms, Utilities, Property and Office services, Finance, Insurance, Legal and Travel, Vehicles, Sales & Marketing and Procurement, Consultants and Materials Handling. This scheme is run by <a href='http://www.pepcoservices.com'>Pepco Services</a>.";

question[19] = "What does Seraphim do for portfolio companies post investment?";
answer[19] = "Seraphim and the team continually look to leverage their networks for the benefit of the portfolio, Introductions to potential business partners are common place. Seraphim also assists with future funding requirements including the identification of suitable future equity and debt investors. The Seraphim team monitor relevant M&A activity on an ongoing basis and make management aware of potential opportunities. Seraphim is regularly approached by conference organisers seeking interesting VC backed companies for speaking slots at their industry events. Finally Seraphim holds regular events exclusively for the CEO's of portfolio companies. These are popular events for CEO's to network with others in the portfolio, discuss best practices and learn from the experience of others.";

question[20] = "Is Seraphim part of any industry bodies?";
answer[20] = "Seraphim is a member of the <a href='http://www.bvca.co.uk'>British Venture Capital Association (BVCA)</a> and the <a href='http://www.bbaa.org.uk'>British Business Angels Association (BBAA)</a>";