The recent announcement that Fanduel has raised over $275m in investment brings new hope to technology startups in Scotland.
The great thing about this is that this tech revolution will inspire others to take the leap to startup themselves.
I was lucky enough to be the first angel investor in Fanduel way back in early 2008 when it was called Hubdub (they then changed the focus to daily fantasy sports). What always impressed me was the team of Nigel, Lesley, Tom, Rob and Chris. They had a very good shared vision and a great working relationship with clear leadership from Nigel.
One of the first things that I love to invest in is good teams, and it was clear from every conversation in a coffee shop on Marchmont Road (which unfortunately isn’t there anymore!) that this was a great team.
Late 2007 and early 2008 was not a great time for tech investing. Most of the angels had l”left the building after nursing losses during the dotcom bust. Luckily I had a few great contacts to share the first angel round with in Ian Ritchie and Andy Allan who both were impressed by the team as much as me.
It is still early days for Fanduel and there is much to do in a much more competitive landscape than a few years ago (Yahoo and Pokerstars both are entering the space).Tweet