Investor
Terms of Service
ANGELS DEN INVESTOR TERMS OF SERVICE
Version 1.0
Last updated: 29 March 2026 · Effective: 29 March 2026
1. Introduction and Acceptance
These Investor Terms of Service ("Terms") govern your access to and use of the Angels Den investment platform (app.angelsden.com) and related services (the "Platform") as an investor user.
By creating an account, completing the onboarding process, or using the Platform, you confirm that you have read, understood, and agree to be bound by these Terms, our Privacy Policy, and our Cookie Policy.
If you do not agree to these Terms, you must not use the Platform.
These Terms are between you and ANGELS DEN FUNDING LIMITED, trading as Angels Den ("Angels Den", "we", "us", "our").
Registered address: 17 Holywell Hill, Suite 33, St. Albans, England, AL1 1DT Company number: 08384317 Contact: info@angelsden.com
2. Definitions
In these Terms:
"Certification" means your self-certification as a High Net Worth Investor or Sophisticated Investor in accordance with the FCA certification process described in Section 5.
"Deal Content" means startup profiles, pitch decks, supporting documents, financial information, due diligence reports, and any other information about startups made available through the Platform to certified investors.
"DD Report" means a due diligence report made available for purchase through the Platform.
"Founder" means a person or entity that has submitted a startup application to the Platform.
"Introduction" means the act of connecting a certified investor with a founder or startup, facilitated by Angels Den in its capacity as an introducer.
"Platform" means the Angels Den investment platform at app.angelsden.com, including all associated services, features, and content.
"Vestd" means Vestd Ltd (or such other FCA-regulated SPV administrator as agreed in writing), through which investment transactions may be executed.
3. Eligibility and Your Account
Eligibility
To use the Platform, you must:
Be at least 18 years of age
Be a resident of the United Kingdom or a jurisdiction from which you are legally permitted to use the Platform
Be capable of forming a legally binding contract under the laws of England and Wales
Not have been previously removed from the Platform for breach of these Terms
Account creation
You must register for an account using a valid email address and password. You must provide accurate and complete information during registration and onboarding and keep your account information up to date.
Account security
You are responsible for maintaining the confidentiality of your account credentials and for all activity that occurs under your account. You must notify us immediately at info@angelsden.com if you become aware of any unauthorised use of your account. We are not liable for any loss arising from unauthorised access to your account where the unauthorised access was not caused by our negligence.
One account per person
Each investor must maintain only one account. Creating multiple accounts may result in termination of all associated accounts.
4. Angels Den's Role — Introducer, Not Adviser
This is the most important section of these Terms. Please read it carefully.
Angels Den is not authorised or regulated by the Financial Conduct Authority. We operate as an introducer outside the FCA regulatory perimeter: we introduce certified investors to startups seeking investment. We do not carry on regulated activities under the Financial Services and Markets Act 2000 ("FSMA").
Angels Den does not:
Provide investment advice or personal recommendations
Recommend, endorse, or guarantee any startup, investment opportunity, or financial product
Make suitability assessments or determine whether any investment is appropriate for you
Arrange deals in investments or bring about transactions in investments
Handle investment capital or hold client money
Using the Platform does not create an adviser-client relationship between you and Angels Den. No communication from Angels Den — whether through the Platform, email, or otherwise — should be interpreted as investment advice or a personal recommendation.
All investment decisions are yours alone. You are responsible for evaluating the merits and risks of any investment opportunity you encounter through the Platform and for seeking independent professional advice where appropriate.
5. Investor Certification
Self-certification requirement
To access Deal Content on the Platform, you must complete the FCA self-certification process during onboarding. You may certify as either:
High Net Worth Investor: You have an annual income of at least £100,000 or net assets of at least £250,000 (excluding the value of your primary residence, any pension rights, and any life insurance contracts).
Sophisticated Investor: You have relevant investment experience, hold relevant professional qualifications, or are a member of a network or syndicate of business angels.
During certification, you will be presented with the full FCA-prescribed certification statement. You must read and confirm the entire statement. We store a complete, timestamped, versioned record of the statement you confirmed, along with the date of certification and your browser information at the time of certification.
Your certification responsibilities
By completing certification, you confirm that:
The information you have provided is truthful and accurate
You meet the criteria for the certification type you have selected
You understand the risks associated with investing in startups and private companies, including the risk of losing your entire investment
You understand that investments made through introductions facilitated by Angels Den are not covered by the Financial Services Compensation Scheme merely because a startup fails
Providing false or misleading certification information is a serious matter and constitutes grounds for immediate account termination.
Certification validity and renewal
Your certification is valid for 12 months from the date of certification. When your certification approaches expiry, we will notify you.
After expiry, there is a 30-day grace period during which your access to Deal Content is suspended but your account remains active. During this period, you may re-certify to restore access. After the grace period, your access to all Deal Content is blocked until you complete re-certification.
Each re-certification creates a new, separate certification record. Previous certification records are retained permanently for regulatory compliance (see Section 14 and our Privacy Policy).
Certification records are permanent
FCA financial promotion rules require us to maintain evidence that investors were appropriately certified at the time they accessed investment content. Certification records are stored on an immutable, append-only basis and cannot be edited or deleted, even at your request. This falls within the exemption under UK GDPR Article 17(3)(b) (compliance with a legal obligation). See our Privacy Policy for full details.
6. Platform Services
What the Platform provides
The Platform enables certified investors to:
Browse profiles of startups that have been accepted onto the Platform
View pitch decks, supporting documents, and financial information provided by founders
Express interest in startups and indicate non-binding pledge amounts
Add startups to a watchlist
Purchase due diligence reports where available
Receive introductions to founders facilitated by Angels Den
What the Platform does not provide
The Platform does not provide:
Investment advice, personal recommendations, or suitability assessments
Investment execution, share issuance, or transaction completion services (these may be provided by Vestd or another FCA-regulated SPV administrator — see Section 12)
Guarantees of investment returns or capital preservation
Verification of founder claims, financial projections, or business metrics
Custody of investment funds or client money
7. Deal Content and Disclaimers
Founder-provided information
All startup information displayed on the Platform — including company descriptions, financial data, traction metrics, team details, and forecasts — is provided by the founders themselves via the application process. Angels Den does not independently verify founder claims.
Acceptance of a startup onto the Platform is an editorial decision about suitability for the Angels Den network. It is not a validation, endorsement, or recommendation of the startup's business, its claims, its financial projections, or its suitability as an investment.
You should conduct your own due diligence and seek independent professional advice before making any investment decision.
Risk warnings
Investing in startups and early-stage companies involves significant risks, including:
You may lose all of the money you invest
Most startups fail
Startup shares are illiquid and difficult to sell
Dividends are rare — returns typically depend on a future sale or listing event
Your shareholding may be diluted by future funding rounds
Past performance is not a reliable indicator of future results
Forecasts are not a reliable indicator of future performance
Tax reliefs (including EIS and SEIS) are not guaranteed and may be withdrawn
The full investment risk disclosure is set out in our Investment Disclaimer, which you should read before using the Platform.
Expressions of interest and pledges
Viewing a deal listing, expressing interest, or indicating a pledge amount through the Platform does not constitute an offer, commitment, or obligation to invest. Pledge amounts are indicative and non-binding.
Angels Den may add, remove, or modify deal listings at any time. A startup's presence on the Platform may change without notice (for example, if a funding round closes or a startup withdraws).
Deal views
Your views of deal listings and detail pages are recorded as part of our regulatory audit trail. These records are retained for compliance purposes as described in our Privacy Policy.
8. Due Diligence Reports
Nature of DD Reports
Due diligence reports available for purchase on the Platform are informational documents only. They are not investment advice, personal recommendations, or suitability assessments. They do not constitute a recommendation to invest or not invest in any startup.
You should not rely solely on a DD Report when making an investment decision. You should conduct your own independent due diligence and seek independent professional advice.
Purchasing DD Reports
DD Reports are available for purchase on a per-report basis. Prices are set by Angels Den and displayed in pounds sterling (GBP) on the Platform.
Payments are processed by Stripe (PCI DSS Level 1 compliant). Your payment card details are entered directly into Stripe's payment form and are never transmitted to or stored by Angels Den. On successful payment, you receive download access to the DD Report via the Platform.
Refund policy
DD Reports are non-refundable once purchased. DD Reports are digital content that is made available to you immediately upon purchase. By completing a purchase, you acknowledge that the digital content is made available to you immediately and that you therefore waive any right to a cooling-off period or refund under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013.
If you experience a technical issue that prevents you from accessing a DD Report you have purchased, contact us at info@angelsden.com and we will resolve the access issue.
Transaction records
Records of DD Report purchases (including the transaction reference, amount, and associated report) are retained for a minimum of 7 years to comply with UK tax and accounting regulations.
9. Intellectual Property
Angels Den's intellectual property
The Platform, including its design, user interface, source code, architecture, branding (including the Angels Den name and logo), and any DD Reports produced or commissioned by Angels Den, is the intellectual property of Angels Den or its licensors. You may not copy, modify, distribute, sell, or create derivative works based on any part of the Platform without our prior written consent.
Founder content
Startup information, pitch decks, supporting documents, company logos, and other materials uploaded by founders remain the intellectual property of the respective founders. Founders grant Angels Den a licence to display and share this content with certified investors through the Platform for the purpose of facilitating introductions. Angels Den does not claim ownership of founder-uploaded content.
Your content
By providing profile information (name, contact details, investment preferences, bio, and similar information) to the Platform, you grant Angels Den a non-exclusive, worldwide, royalty-free licence to use this information for the purposes of operating the Platform, facilitating introductions, and internal administration. This licence continues for the duration of your account and for a reasonable period thereafter to fulfil our regulatory obligations.
10. Confidentiality
Your confidentiality obligations
Deal Content accessed through the Platform — including startup profiles, pitch decks, supporting documents, financial information, and DD Reports — is confidential information shared with you for the sole purpose of evaluating potential investment opportunities.
You agree that you will:
Not share, forward, publish, or otherwise make Deal Content available to any person who is not a certified investor with access to the Platform
Not use Deal Content for any purpose other than evaluating the relevant investment opportunity
Not copy or reproduce Deal Content except for your own personal evaluation purposes
Take reasonable steps to prevent unauthorised access to any Deal Content you have downloaded
How we protect confidentiality technically
Pitch decks and supporting documents are stored in private, access-controlled storage. Downloads are served via time-limited signed URLs that expire after a short period. Access requires both valid authentication and a current FCA certification. These technical measures supplement, but do not replace, your contractual confidentiality obligations.
11. Your Obligations
By using the Platform, you agree to:
Certify accurately — your self-certification as a High Net Worth or Sophisticated Investor is truthful and you will promptly notify us if your circumstances change such that you no longer meet the certification criteria
Re-certify when required — you will complete re-certification when your certification expires
Maintain account security — you will keep your login credentials secure and not share your account with others
Keep your information current — you will update your profile information if it changes
Respect confidentiality — you will treat Deal Content as confidential in accordance with Section 10
Make your own decisions — you are responsible for your own investment decisions and for seeking independent professional advice
Conduct your own due diligence — you will not rely solely on information provided through the Platform when making investment decisions
Comply with applicable laws — including anti-money laundering regulations, tax obligations, and securities regulations relevant to your investments
Not misuse information — you will not use information obtained through the Platform for market manipulation, insider trading, or any other unlawful purpose
Not interfere with the Platform — you will not attempt to access areas of the Platform you are not authorised to access, reverse-engineer the Platform, or introduce malicious code
12. Investment Execution
The SPV administrator relationship
Where an investment proceeds beyond the introduction stage, the actual investment transaction may be executed through Vestd Ltd (or such other FCA-regulated SPV administrator as agreed in writing), which handles investment execution, share issuance, legal completion, and related regulated activities. Any SPV administrator maintains its own terms of service and privacy policy, which you should read and accept independently before completing any investment.
Separation of responsibility
Angels Den and any SPV administrator (including Vestd) are separate legal entities with separate regulatory responsibilities.
Angels Den is not responsible for:
Any SPV administrator's services, actions, omissions, or terms
The execution, completion, or failure of any investment transaction
Any loss, delay, or dispute arising from your dealings with an SPV administrator
Any advice, information, or recommendations provided by an SPV administrator
Your relationship with any SPV administrator is governed by that administrator's own terms, not these Terms.
13. Limitation of Liability
Scope of our liability
To the maximum extent permitted by law:
Our total aggregate liability to you for any and all claims arising out of or in connection with these Terms or your use of the Platform is limited to the total fees you have actually paid to Angels Den in the 12-month period immediately preceding the event giving rise to the claim. If you have not paid any fees to Angels Den, our total aggregate liability is zero.
We are not liable for:
Any loss arising from an investment decision you make, whether or not the investment opportunity was encountered through the Platform
The accuracy, completeness, reliability, or timeliness of any information provided by founders on the Platform, including financial data, projections, traction metrics, and business claims
Any loss arising from your reliance on Deal Content, DD Reports, or any other information available through the Platform
The performance, failure, or conduct of any startup listed on the Platform
The actions, omissions, services, or terms of Vestd or any other third party
Any indirect, consequential, incidental, special, or punitive damages, including loss of profits, loss of revenue, loss of data, loss of opportunity, or loss of goodwill, even if we have been advised of the possibility of such damages
Exclusions
Nothing in these Terms excludes or limits our liability for:
Death or personal injury caused by our negligence
Fraud or fraudulent misrepresentation
Any liability that cannot be excluded or limited under applicable law
Acknowledgement
You acknowledge that Angels Den operates as an introducer and does not provide investment advice. You accept that investment in startups carries significant risk, including the risk of total loss of capital, and that you are solely responsible for your investment decisions.
14. Indemnification
You agree to indemnify and hold harmless Angels Den, its directors, officers, employees, and agents from and against any claims, liabilities, damages, losses, costs, and expenses (including reasonable legal fees) arising out of or in connection with:
Your breach of these Terms
False or misleading information in your self-certification
Your breach of the confidentiality obligations in Section 10
Your violation of any applicable law or regulation in connection with your use of the Platform
Any claim by a third party arising from your misuse of Deal Content or information obtained through the Platform
15. Disclaimers
Platform provided "as is"
The Platform is provided on an "as is" and "as available" basis. To the maximum extent permitted by law, we disclaim all warranties, whether express, implied, or statutory, including but not limited to implied warranties of merchantability, fitness for a particular purpose, and non-infringement.
No guarantee of availability
We do not guarantee that the Platform will be available at all times, uninterrupted, secure, or error-free. We may modify, suspend, or discontinue any part of the Platform at any time, with or without notice.
No guarantee of accuracy
We do not guarantee the accuracy, completeness, or currency of any information on the Platform. Startup information, financial data, and market figures are provided by founders and may be outdated, incomplete, or inaccurate. We are not obliged to update any information on the Platform.
16. Account Suspension and Termination
Termination by you
You may close your account at any time by contacting us at info@angelsden.com. Account closure does not affect any obligations that have already arisen under these Terms or any rights we have accrued.
Termination by us
We may suspend or terminate your account, with or without notice, if:
You provide false or misleading self-certification information
You breach the confidentiality obligations in Section 10
You share Deal Content with non-certified individuals
You breach any material term of these Terms
You engage in abusive, threatening, or inappropriate behaviour toward founders, other users, or Angels Den staff
You use the Platform in a manner that we reasonably believe is unlawful or could damage the reputation or operation of Angels Den
We are required to do so by law, regulation, or a court order
We may also terminate your account for any reason with 30 days' written notice.
Effect of termination
On termination, your right to access the Platform ceases immediately (or at the end of the notice period, as applicable). Termination does not affect our right to retain data as described in our Privacy Policy, including certification records (retained permanently), audit logs, and financial transaction records.
17. Electronic Communications
By creating an account, you consent to receive electronic communications from Angels Den, including:
Account-related emails (registration confirmation, password resets, authentication)
Certification-related notifications (certification confirmation, expiry warnings, re-certification reminders)
Platform notifications related to your account or activity
These are transactional communications necessary for the operation of your account, not marketing. Newsletter and marketing communications are managed separately and require your explicit opt-in (see our Privacy Policy).
18. Changes to These Terms
We may update these Terms from time to time. If we make material changes, we will provide at least 30 days' notice by email to the address associated with your account and by displaying a prominent notice on the Platform.
Your continued use of the Platform after the effective date of updated Terms constitutes your acceptance of the changes. If you do not agree to the updated Terms, you should stop using the Platform and close your account before the changes take effect.
We will maintain an archive of previous versions of these Terms. You may request a copy of any previous version by contacting info@angelsden.com.
19. Dispute Resolution
Informal resolution
If you have a complaint or dispute regarding the Platform or these Terms, please contact us first at info@angelsden.com. We will acknowledge your complaint within 14 days and work to resolve it in good faith.
Formal proceedings
If the dispute is not resolved through informal communication within 30 days of your initial contact, either party may pursue formal proceedings in the courts of England and Wales.
Complaints regarding regulated activities
If you believe your complaint relates to a regulated activity carried out by another party (such as an SPV administrator), you may contact the Financial Conduct Authority. Details of how to complain to the FCA are available at fca.org.uk.
20. General Provisions
Governing law
These Terms are governed by and construed in accordance with the laws of England and Wales. The courts of England and Wales have exclusive jurisdiction over any dispute arising out of or in connection with these Terms.
Force majeure
We are not liable for any failure or delay in performing our obligations under these Terms where such failure or delay results from circumstances beyond our reasonable control, including but not limited to acts of God, natural disasters, pandemics, government actions, power failures, internet failures, or third-party service outages.
Severability
If any provision of these Terms is found to be invalid, illegal, or unenforceable by a court of competent jurisdiction, that provision will be severed from these Terms and the remaining provisions will continue in full force and effect.
Entire agreement
These Terms, together with our Privacy Policy, Cookie Policy, and Investment Disclaimer, constitute the entire agreement between you and Angels Den regarding your use of the Platform as an investor. They supersede any prior agreements, understandings, or representations, whether written or oral.
No waiver
Our failure to enforce any right or provision of these Terms does not constitute a waiver of that right or provision. Any waiver must be in writing and signed by us.
Assignment
You may not assign or transfer your rights or obligations under these Terms without our prior written consent. We may assign or transfer these Terms (in whole or in part) to a successor entity, including in connection with a merger, acquisition, reorganisation, or sale of substantially all of our assets, without your consent, provided that the assignee assumes our obligations under these Terms.
Third-party rights
These Terms do not confer any rights on any person or party other than you and Angels Den. Nothing in these Terms is intended to create any rights enforceable by a third party under the Contracts (Rights of Third Parties) Act 1999.
21. Contact Us
If you have any questions about these Terms, contact us at:
Email: info@angelsden.com Address: 17 Holywell Hill, Suite 33, St. Albans, England, AL1 1DT
END OF INVESTOR TERMS OF SERVICE