Sign In

Richard Hoskins

Co-Principal at Kin Group

Richard Hoskins is a Co-Principal at Kin Group, specializing in fund management, administration, regulatory compliance, and fundraising services for Venture Capital Funds and Alternative Investments. He holds a Bachelor of Science in Zoology from Bristol University and has pursued further education at Stowe School, Oxford Said Business School (Fintech Programme), and CFA Institute (CFA Level 1 & Level 2). Richard has a diverse professional background, having held roles such as Co Principal at Kin Fund Services, Partner at RAM Capital Partners LLP, Head of Intermediary Sales at Oxford Capital, Sales Manager at Noble Group, and Captain in the British Army.

Highlights

Aug 19 · linkedin

🚨 If you a #VC, #Angel investor or a Funds Lawyer whose clients use SPVs / Syndicates to facilitate #venturecapital single deal investments…then you probably want to take note of this… 👇

A well known deal Syndicate / SPV platform is in hot water with the UK’s Financial Conduct Authority. This was announced on the weekend (like bad news tends to be). The Substack announcement has since been deleted and there is now (as at Monday 14:30 UK time) nothing on the firm’s website…

❓ Why was the platform suspended ❓

They said; “The FCA has come to the view that deal syndication on a software platform requires a specific regulatory permission (arranging deals with retail investors) that we do not have. Neither, to our knowledge, do any of our primary competitors in the UK.”

🔎 My view – the firm’s website says; they are “not regulated by the UK Financial Conduct Authority.” In short, not only does the firm lack the specific regulatory permission…it would appear it lacks ANY regulatory permission. Whilst the majority of their competitors DON'T have the right permissions 😞 , some DO... 😀 .

❓ What does this mean for the platform’s customers ❓

They said; “Until they hear from us, they cannot launch any new deals on XXXXXX. For anyone with a deal live that’s partially funded, we’re closing it out free of charge and offering a free rolling close once we are back online. Alternatively we are refunding them.”

🔎 My view - I suspect this is the tip of the iceberg, both for the firm involved and for other Syndicate / SPV providers. This is going to impact other Syndicate / SPV businesses....and could hit your next deal by deal fundraising.

❓ Are people’s investments safe ❓

They said; “Note: Any capital we hold in our designated accounts on behalf of investors / investee companies is segregated and not affected - this is not our money.”

🔎 My view – This is one of several elephants in the room. Looks like the firm has been holding client money when it doesn’t have any permissions to do so. Even most regulated firms don’t have the necessary permissions to hold client money. Investors cash wasn’t sufficiently safe BEFORE this happened - unless it was held by a regulated custodian (it wasn't apparently in this case 😱 ). It’s not going to be any safer now. To be fair most of the assets will be unquoted shares, rather than cash, but I wouldn't want cash sitting outside of proper regulatory protections...

Kin Group has a digital SPV / Syndicate launch platform and has the permissions that most SPV / Syndicate platforms don’t. Ping me a message for more info. https://www.kin-group.com/

Apr 10 · linkedin

Great to be in #NewYork again flying the flag for Kin Group, this time on a UK Department for Business and Trade mission and #FinTech week. Lots of opportunity here for UK businesses...3 top tips for UK #startups entering the US... 👇

🗽"Segment your market. Segment it. Then segment it AGAIN!" As ever with most things in business, focus is 'obviously' the way forward...but as a hungry entrepreneur it's a little too tempting to boil the ocean. Don't.

🗽"Founder time". If you are not prepared to commit to spending serious time over here...then you are v unlikely to succeed.

🗽"Don't undersell yourself / Don't be modest." Understand the cultural differences between the UK and the US. We are similar, but very different too!

Finally, thank you to some great FinTech Entrepreneurs / businesses I have learned a lot from this week (both on the UK side but also the wider FinTech community. BIG thanks to Mariana Cubillos, Caitlin Davis, Clare Carswell and Ian Hunter for hosting us! 👏 Empire Startups - Everything FinTech deserve a special mention too!

Related Questions

What is Richard Hoskins' role at Founders Pledge?
How did Richard Hoskins transition from law to his current position?
What are some notable projects Richard Hoskins has worked on at Founders Pledge?
What is the focus of Richard Hoskins' teaching at Northwestern University?
How has Richard Hoskins' experience as a trial lawyer influenced his work at Founders Pledge?
Richard Hoskins
Richard Hoskins, photo 1
Richard Hoskins, photo 2
Add to my network

Experience

Pledger at Founders Pledge (March 2023 - Present)
Co Principal at Kin Fund Services and Kin Capital (September 2014 - Present)

Education

Bristol University, Bachelor of Science in Zoology (1995 - 1998)

Location

United Kingdom