Lunch with Peter Cowley
Sometimes, the only thing you get to know about angels and investors behind the deals is just the deals themselves. Maybe if they happen to be a bit naughty you get to hear about other bits… This is not that kind of interview.
A while back I had the distinct pleasure of sitting within close proximity of Peter Cowley; not only is he one of the investors that call Warner Yard home, but he has also managed to fit in some other cool stuff. Here is a brief synopsis that has been completely lifted from his LinkedIn profile…
Peter Cowley has a Cambridge University degree in Engineering and Computing Science, lived in Bavaria for five years and owns technology and construction businesses. He returned to Cambridge ten years ago. In total he has founded twelve businesses, since the first in 1981 in Bavaria.
Peter has personally been investing in high growth start-ups for many years and is a board member of the Cambridge Angels. He is the Investment Director at Martlet - the Corporate Angel division of Marshall of Cambridge (a £1.2bn sales, 4000+ person engineering company). He has run the Computing Laboratory Ring mentoring scheme for 10 years and is chair of the ideaSpace supporter group. Peter has over 30 angel investments in the biotech, medtech, ICT, web, fire safety, electronics, mobile data, aerospace, printing and instrumentation sectors. He is a non-exec director or board observer of eight of these. Over the last 14 years, he is and has been treasurer and chair of several charities in the advice, healthcare and education sectors. He has also undertaken several property development and construction projects. Peter was considered one of the 10 Business Angels all entrepreneurs should know by AngelNews as well as one of the 21 Business Angels you need to know about by iBusinessAngel. He is one of the top 100 Global Corporate Venturers. Further information and full portfolio plus investment criteria at www.petercowley.org
Pretty darn impressive, also has impeccable manners. Here are 11 things you may not have read about the man:
1. Did you think you would get to where you are?
My life has changed in so many ways over the years, I can’t answer that question. I haven’t been asked that one before. I haven’t got a straight answer for you. I think I disappointed my parents, but impress my kids.
2. When you made your first million, did you want to slow down?
Not at all, it’s too much fun. It’s not for the monies’ sake. I just love what I am doing; the people, the innovation, the challenges…
3. What do you think is the best preparation for business?
Not necessarily an MBA (even though I am a fellow of the Judge Business School), work experience can be more relevant. Get a good degree, spend two to three years in a corporate and then start a business after that, as it happens that is exactly what I did. I definitely think that experience of corporate life adds some structure, it's also helpful to have great people around you, and learn from your mistakes. In business you are always going to make mistakes, you just have to try and limit the number and learn from them quickly.
4. Do you have time for financial planning?
Yes, because I am getting to that sort of age where it’s important. I don’t spend much time on it, but I do spend some time on it. Probably less than half an hour a week.
5. Do you want to carry on untill you drop?
Hopefully I won’t drop too soon, I am in my late fifties now and I certainly hope to be doing this in my seventies - not in the same intensity, but the same sort of thing.
7. Have you made a pension provision?
That’s a really strange question! Why do I need a pension if I intend to do what I am doing till I drop?
A pension is income from the point where one stops generating cash and changes into money spending mode and if I was going to drop on the job then I wouldn’t need that.
When you have made your first million and you don’t use private jets too often, a million quid in the bank once you get to seventy-ish should last you forever.
8. What is your commitment to charity?
Quite a lot, I mean for the last 14 years I have been involved on the trustee boards of charities in three sectors: Citizens Advice Bureau; Focus12, a drug and alcohol rehab charity, which has Russell Brand as a patron and recently an education charity in Cambridge. I have given a huge amount of time. Saying no to an interesting opportunity is a huge issue for me!
9. Do you allow yourself the odd indulgence?
Yes, I have already been skiing twice this year. Last year I spent 3 months out of the country and this year I intend to spend four. Some of it is business but mostly its pleasure, I have a nice car, I have a motor bike, I have a nice house, are those indulgent? I enjoy good food when possible so yes, I would be wrong not to indulge sometimes
10. Do you believe in leaving everything to your children?
Between Alison and I, we have five children. It’s a difficult question, the answer in principle is no, but it depends on the point of death really. At the moment planning the date of one’s funeral is classed as suicide, and no one can estimate the cost of care of the 2 to 20 years of ill health we are all expected to have at the end. No the money will not just go to my children
11. What is the most you have ever paid for a meal?
I haven’t quite spent £200 a head, but it’s heading that way.
Penned by @VictoriaDomalik without the consent of @NathanBenaich with glaring typos subsequently fixed by detail-obssessed @NathanBenaich