STACK THE ODDS OF SEED INVESTMENT

The following pages describe the businesses and rationale for the investments to be made shortly from the (‘the Fund’).

The Fund is a discretionary fund - the decisions on where to invest are made on behalf of investors. Therefore the information given on each business is deliberately summarised. Please ask if you would like more background on the business and rationale.

Background in a 10 page summary

As with the previously closed investments from the Fund, the businesses are deliberately in different sectors and at different maturity to together make up a ‘mini-portfolio’ to diversify risk and increase the possibility of healthy returns.

The investments in this mini-portfolio are planned to be made during January 2018, and are all SEIS qualified. So SEIS tax reliefs can be claimed against 2017/18 tax (or carried back and claimed against 2016/17 if an investor’s SEIS allowance has not been used up). Worth Capital will ensure that investee businesses make prompt SEIS3 applications (the certificates from HMRC that are needed to claim the tax reliefs) post the investment, with a view to distributing them to investors by April / May 2018, however the lead time is dependent on HMRC. The businesses have been chosen from entrants to the Start-Up Series, have been recommended for investment by the marketing, brand, retail and innovation experts fromWorth Capital and are going through additional due diligence from the Fund Manager, Amersham Investment Management.

Comprehensive details of the Fund & an application form, in the Information Memorandum

An independent review of the Fund by Hardman & Co.

Please note, your capital is at risk and tax treatment depends on individual circumstances & may be subject to change.

For more about the Fund, please contact:

Paul Soanes | 07768 571271 | pauls@worthcapital.uk

Matthew is a successful multi-site hairdresser with 3 salons in the home counties and experience as a brand ambassador for L’Oreal. Having established the concept of a monthly subscription to blow dries in his salons as a promotional mechanic he quickly received hugely positive feedback and realised the potential to scale it into a national and potentially international brand. Simon is the other co-founder – an accountant with relevant and deep experience of subscription services from working with The Economist and Discovery Channel. The timings for the offer is ideal as most retailers are desperate for experiences to add theatre to their stores and for services to sweat the returns from their existing space (becoming underutilised due to the shift to online shopping). This is particularly true of department stores but also for fashion retailers, homewares retailers and others. Conversations so far, including with House of Fraser, have been very positive about the availability of space at a sensible revenue share. The ‘bars’ will be strikingly designed – a critical part of building the brand and experience – but will be largely funded by product placement fees, some of which have already been agreed. The commercial model is compelling – ongoing monthly subscriptions and a competitively priced walk- in service drive revenue, with innovative recruitment, scheduling and attractive deals with retailers giving a healthy gross margin. So far, there is agreement in principle from House of Fraser to have Blow Dry Pass in 5 stores and the first phase of the app has been built. Marketing is about to start in anticipation of a March launch.

A £99 monthly subscription to unlimited good hair days at the tap of a button, wherever and whenever women (& men) need and want. A mobile app using GPS to find branded blow dry counters in department stores, gyms, stations and other convenient & high footfall locations.

£150,000 SEIS investment Pre-money valuation £650,000 18.75% equity

www.theblowdrypass.com

A revolutionary method to create custom motorcycle helmets - making them better quality, more customisable and much cheaper than existing options.

www.mototattoo.com

The founders have over 20 years of experience in the motorcycle accessories industry. Most recently with a California design agency that created designs for annual range refreshes for many of the world’s helmet manufacturers. They have taken techniques from many different industries to create a new process that will make custom helmets available to the masses. Compared to the current way of custom designing a helmet, theirs will be better quality, safer, quicker (2 days vs. 4 weeks) and cheaper (£99- £149 versus £600 to £1000) – all at a 85% margin and using unskilled labour. The market is highly attractive – 500,000 bikers in the UK, each with 2.2 helmets on average. They passion makes them efficient to target. The founders know the US bike market and would find it relatively easy to establish the business there. Beyond motorcycle helmets there is potential to expand into sports helmets, potentially ski, boarding and BMX, but the most volume potential would be kids sport in America – ‘little league’ baseball & American football. So far, a patent has been applied for in the UK and USA and production will commence as soon as funding has been received and a production line set-up. A licensing deal has been struck with the English Premier League – for designs to be offered for soccer supporters.

£150,000 SEIS investment | Pre-money valuation £650,000 | 18.75% equity

It has become accepted practice for experienced travellers to check for indirect flights with a stopover or a change on the way as a way to save money on air tickets. But when booking hotels – say with Booking.com or others – the selection offered is only those that have full availability for the dates selected. This leaves a huge volume of inventory that hotel owners would like to sell and that could be good value for the traveller. Nightly scours all that inventory and returns choices for the traveller for combinations of hotels that involve one switch during a stay. This could be great savings on the regular rate or might be a higher class of hotel available at a lower cost (an ‘upgrade’). Santiago is an experienced entrepreneur, his co-founder David is a travel industry professional, recently with Expedia. They are experimenting with ways to spread the word about this new form of money saving/experience hunting. For example – by targeting events such as London Fashion Week or the Singapore Grand Prix – when hotel prices increase despite high pockets of unused inventory. The big risk is their ability to change consumer behaviours. But it would only take a small percentage of travellers to create significant volume, given the size of market and the global scope of the product. The commercial model is highly efficient – with a standard commission payable for the online aggregator through whom hotel bookings are made. There is also B2B white label potential for the business – licencing the technology to hotel groups like IHG, Starwood or Marriott for us on their sites – thus giving them precious reasons for a guest to book via their site rather than through the volume aggregators. So far, a beta version of the site is in use. With learnings and improvements being made day by day.

A new way to book hotels – giving travellers the option to switch hotels once during their trip to get the best value, a different experience and save as much as 70%.

www.nightly.travel

£150,000 SEIS investment | Pre-money valuation £640,000 | 18.99% equity

INVESTMENT IN THE START-UP SERIES FUND CARRIES SUBSTANTIAL RISK. ANY INVESTMENT IN THIS FUND SHOULD BE REGARDED AS BEING MEDIUM TO LONG TERM IN NATURE.

This document constitutes a financial promotion pursuant to section 21 of the Financial Services and Markets Act (FSMA), and its contents have been approved by Amersham Investment Management Ltd (Manager)which is authorised and regulated by the Financial Conduct Authority in the United Kingdom with FRN number 507460 and whose registered office is 25 Lexington Street (1st Floor) London W1F 9AH. Telephone: +44 (0)20 7734 7524. Email: info@amershaminvestment.co.uk. Worth Capital Limited is not an FCA authorised firm and will not be providing any investment services or undertaking any regulated activities in connection with the Fund. The tax treatment referred to in this document depends on the individual circumstances of each investor and may be subject to change in the future. In addition, the availability of any tax reliefs depends on the companies in which the Fund invests maintaining their qualifying status. Past performance is not a guide to future performance and may not be repeated. The value of an Investment may go down as well as up and an Investor may not get back the full amount invested. Investors’ money subscribed to the Fund will be committed to investments which may be of a long term and illiquid nature. The companies in which the Fund invests will not be quoted on any regulated market and, accordingly, there will not be an established or ready market for any such shares. It may be difficult to obtain information regarding how much an investment is worth or how risky it is at any given time and the Manager may experience difficulty in realising the investments (for value or at all). An investment in the Fund may only be made on the basis of the Fund’s Information Memorandum and the Investment Management Agreement which are available to eligible investors upon request. Prospective Investors should not regard the contents of this document as constituting a recommendation or

advice relating to any legal, taxation, regulatory or investment matters and are advised to consult their own professional advisers before contemplating any investment. The Manager, its directors, officers, employees and agents do not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on any information or opinions contained herein or in any other communication in connection with an investment in the Fund except where such liability arises under FSMA, regulations made under FSMA or the FCA’s Handbook of Rules and Guidance and may not be excluded. The Manager has taken all reasonable care to ensure that the factual content hereof is accurate and that statements of opinion herein are reasonably held. This document is only intended for release in the United Kingdom and does not constitute an offer, or the solicitation of an offer, in any jurisdiction in which such offer or solicitation is unlawful. It is the responsibility of any person outside the United Kingdom wishing to make an application to invest in the Fund to satisfy himself as to full observance of the laws of any relevant territory in connection therewith. Prospective Investors should be aware that the arrangements described in this document represent a discretionary management service subject to the terms of the Investment Management Agreement. Investors appoint the Manager to invest their subscription monies on a discretionary basis into the Portfolio Companies. All investments made will be held in the name of the Nominee in a way that enables each Investor’s entitlement to be separately identified. The Fund is not treated as an unregulated collective investment scheme (as defined in section 235 of FSMA) but is an alternative investment fund as defined in the Alternative Investment Managers Directive 2011. The Fund has not been approved by HMRC under section 251 of the Income Tax Act 2007. The Manager reserves the right to update this document from time to time.

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