Bambino Capital, Westminster, London (2026)

02/11/2020

🥡 Cook + Thief is raising £450k with a convertible note with 25% discount at a £20m cap on Seedrs and we are not investing because...⁣⁣ ❌⁣
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Cool + Thief is a ghost kitchen company targeting high end food delivery. The company partners with Michelin star chefs to create high quality meals that can be delivered to your home. Cool + Thief has a direct to consumer strategy targeting customers directly and operating its own fleet of delivery drivers. This allows the company to better control the customer experience and offer a superior service than other food delivery companies (non plastic packaging, trained riders-waiters, etc.)⁣
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While we like the concept, we are not too excited about the metrics (£44 costumer acquisition cost, 53% repeat rate) and the fact that we think they will struggle to scale given they use their own fleet of drivers. All in all, we wish them good luck but we won’t be investing.⁣
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+thief ⁣
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Overall 💎5/10💎⁣
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Investment Criteria:⁣
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Company⁣
* Problem 🤔: 💎⁣
* Product / Solution 💡: 💎 ⁣
* Team 👨🏻‍💻: 💎 💎⁣
* Other (IP/Tech/Exit): 💎⁣
Market⁣
* Market Potential 🚀: 💎 💎⁣
* Positioning vs. Comp.🥊: 💎💎⁣
* Growth Strategy 📈: 💎💎⁣
* Barriers to Entry⛔️: 💎⁣
Deal Specific⁣
* Valuation Multiples / debt 🔢: 💎💎

28/10/2020

🍹The Cualdron is raising £325k at a £20m valuation on Seedrs and we are not investing because...⁣⁣ ❌⁣
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The Cualdron is a magic themed experience pub with locations in London, NY, Dublin and Edinburgh. The company offers unique experiences to its customers with self developed gadgets and cocktails themed around the magical world.⁣
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While we believe there is gap in the market for these type of experiences and we really like the concept the team has come up to, we find the valuation to be too steep. Further, given the outlook for retail and the impact of COVID-19, we find difficult to get comfortable with the investment. ⁣
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Overall 💎4/10💎⁣
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Investment Criteria:⁣
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Company⁣
* Problem 🤔: 💎⁣
* Product / Solution 💡: 💎 ⁣
* Team 👨🏻‍💻: 💎💎⁣
* Other (IP/Tech/Exit): 💎💎⁣
Market⁣
* Market Potential 🚀: 💎💎⁣
* Positioning vs. Comp.🥊: 💎💎⁣
* Growth Strategy 📈: 💎💎⁣
* Barriers to Entry⛔️: 💎💎⁣
Deal Specific⁣
* Valuation Multiples / debt 🔢: -

27/10/2020

🌍 Feastr is raising £250k at a £4m valuation on Seedrs and we are investing because...⁣⁣ ✅⁣
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Feastr is a cloud kitchen company delivering restaurant quality food to your home via food delivery platforms (Deliveroo / Uber eats)⁣.
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Feastr business model is relatively simple; it set ups multi brand, delivery only kitchens in non prime areas of London. By specialising in delivery only; it is able to operate with significantly lower costs than traditional restaurants and focus on online positioning. There has been an exponential growth in cloud kitchens as result of the increase popularity of delivery platform and we see this trend accelerating. Overall, we really like the business model and the concept and we find this a unique opportunity to get exposure to an exciting market.⁣
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Overall 💎6/10💎⁣
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Investment Criteria:⁣
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Company⁣
* Problem 🤔: 💎💎⁣
* Product / Solution 💡: 💎 💎⁣
* Team 👨🏻‍💻: 💎 💎⁣
* Other (IP/Tech/Exit): 💎⁣
Market⁣
* Market Potential 🚀: 💎 💎⁣
* Positioning vs. Comp.🥊: 💎⁣
* Growth Strategy 📈: 💎💎⁣
* Barriers to Entry⛔️: 💎⁣
Deal Specific⁣
* Valuation Multiples / debt 🔢: 💎

08/10/2020

🍺BrewDog is raising £7.5m at a £1.1bn valuation on their own website and we are investing because...⁣⁣ ✅⁣
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BrewDog is a Scottish multinational brewery and pub chain specialised in craft beer. The company was founded in 2007 and is now Europe’s largest distributor of craft beer exporting to over 60 countries and with a chain of over 100 pubs.
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This investment wouldn’t typically fit in with our investment criteria as the stage and technological approach is not what we tend to look at. However we wanted to highlight it to our community as BrewDog has a very powerful corporate social responsibility imbedded in their DNA with a number of environmental, social and charitable initiatives. This is also going to be the last chance to buy shares in the company before it goes public and the company is offering very generous rewards in the form of lifetime discount and merchandising to its investors.
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Overall 💎NA💎

30/09/2020

🌍 Wirex is raising £1m at a £125m valuation on Crowdcube and we are investing because...⁣⁣ ✅⁣⁣
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Wirex is a UK fintech company that aims to make all currencies equal. The company offers cards that alllow its users to pay using any currency (including crypto)⁣⁣.
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The company has a similar value proposition to other neobanks like Revolut but with a stronger focus in crypto currencies. It was the first company to offer crypto-enabled Visa and has now developed other partnerships with MasterCard. What really attracts us about Wirex is the incredible traction it has achieved (3.1m users, $3bn transaction value, £315m revenue). At a £125m valuation we find it very conservative vs. its peers.⁣ While the fees it charges may not be sustainable long term, we think it’s reward and loyalty program are enough to continue to fuel growth.⁣ Overall, we think it’s a great opportunity to get exposure to one of the most promising crypto fintechs in Europe.
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Overall 💎8/10💎⁣⁣
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Investment Criteria:⁣⁣
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Company⁣⁣
* Problem 🤔: 💎💎⁣⁣
* Product / Solution 💡: 💎 💎⁣⁣
* Team 👨🏻‍💻: 💎 💎⁣⁣
* Other (IP/Tech/Exit): 💎💎⁣⁣
Market⁣⁣
* Market Potential 🚀: 💎 💎💎⁣⁣
* Positioning vs. Comp.🥊: 💎💎⁣⁣
* Growth Strategy 📈: 💎💎⁣⁣
* Barriers to Entry⛔️: 💎💎⁣⁣
Deal Specific⁣⁣
* Valuation Multiples / debt 🔢: 💎💎💎

23/09/2020

💰 Chip is raising £2m with a convertible note (20% discount capped at £80m) on Crowdcube and we are not investing because...⁣⁣ ❌⁣
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Chip is an award money saving and investing app that allows users to access different saving products directly from their mobile.⁣
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Chip’s app connects to the users existing bank accounts and helps them save by creating goals, and offering them tailored saving products. The company has achieved an incredible traction growing its user base from 40k to 250k in only 2 years. While we believe the company has proven there is product-market fit, we struggle to see how it can monetise effectively. Despite the launch of their premium account services, we find the market to be very competitive and struggle to see how they can effectively increase the LTV of their customer base to an attractive level.⁣
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Overall 💎4/10💎⁣
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Investment Criteria:⁣
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Company⁣
* Problem 🤔: 💎💎⁣
* Product / Solution 💡: 💎 💎⁣
* Team 👨🏻‍💻: 💎 💎⁣
* Other (IP/Tech/Exit): 💎💎⁣
Market⁣
* Market Potential 🚀: 💎⁣
* Positioning vs. Comp.🥊: -⁣
* Growth Strategy 📈: 💎⁣
* Barriers to Entry⛔️: 💎⁣
Deal Specific⁣
* Valuation Multiples / debt 🔢: 💎

02/05/2020

☕️Zapaygo is raising £250k at a £20m valuation on Crowdcube and we are not investing because...❌⁣⁣⁣
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Zapaygo is an app that allows consumers to pre-order & pre-pay at restaurants and cafes venues, improving customer experience whilst increasing venue revenues. Zapaygo has also developed a reward based system built on blockchain technology and is also developing a home delivery service.The company has already raised £3m in previous funding rounds. ⁣
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While we like the idea, we believe they are late to the game, and with £0 in revenue and a more complex value proposition than other apps like Ritual; we struggle to see a strong adoption.⁣
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Overall 💎3/10💎⁣
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Investment Criteria:⁣
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Company⁣
* Problem 🤔: 💎💎⁣
* Product / Solution 💡: 💎 ⁣
* Team 👨🏻‍💻: 💎 💎⁣
* Other (IP/Tech/Exit): 💎⁣
Market⁣
* Market Potential 🚀: 💎💎⁣
* Positioning vs. Comp.🥊: -⁣
* Growth Strategy 📈: 💎⁣
* Barriers to Entry⛔️: 💎⁣
Deal Specific⁣
* Valuation Multiples / debt 🔢: -

16/04/2020

🏡 Lupe Technology is raising £650k at a £5m valuation on Seedrs and we are not investing because...❌⁣⁣⁣
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Lupe is a high-end cordless vacuum cleaner developed in the UK. The company launched after a successful Kickstarter campaign and was developed by 2 ex-Dyson employees. The company has raised £1.8m and has patented its technology.⁣
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This one is a difficult one as we really like the team and the product but we struggle with the valuation. We struggle to see such a strong adoption for a premium product and believe it will take the company significantly longer to execute their business plan. Nevertheless, best of luck with your campaign and hope you prove us wrong.⁣
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https://www.seedrs.com/lupe-technology/⁣
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Overall 💎5/10💎⁣
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Investment Criteria:⁣
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Company⁣
* Problem 🤔: 💎⁣
* Product / Solution 💡: 💎 💎💎⁣
* Team 👨🏻‍💻: 💎 💎💎⁣
* Other (IP/Tech/Exit): 💎💎⁣
Market⁣
* Market Potential 🚀: 💎💎⁣
* Positioning vs. Comp.🥊: 💎💎⁣
* Growth Strategy 📈: 💎💎⁣
* Barriers to Entry⛔️: 💎💎⁣
Deal Specific⁣
* Valuation Multiples / debt 🔢: -⁣

22/01/2020

💵 B-North is raising £1.75m at a £14.2m valuation on Crowdcube and we are not investing because... ❌⁣⁣⁣
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B-North is a UK fintech specialised in SME lending. The company has a very similar business model to Oak North Bank focusing on loan sizes between £500k to £5m. By leveraging technology, the company is able to create a new market for SMEs looking to raise debt significantly faster and more efficiently than traditional banks.⁣
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While we like the business model, we struggle to justify the valuation for a company that still doesn’t have banking license or a business model that has been fully proven. A
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https://www.crowdcube.com/companies/b-north/pitches/qnvdgq/d…⁣
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Overall 💎5/10💎⁣
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Investment Criteria:⁣
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Company⁣
Problem 🤔: 💎 💎⁣
Product / Solution 💡: 💎 💎⁣
Team 👨🏻‍💻: 💎 💎 💎⁣
Other (IP/Tech/Exit): 💎⁣
Market⁣
Market Potential 🚀: 💎 💎⁣
Positioning vs. Comp.🥊: -⁣
Growth Strategy 📈: -⁣
Barriers to Entry⛔️: 💎⁣
Deal Specific⁣
Valuation Multiples 🔢: -⁣
Debt⚖️: n/a

18/01/2020

🏢 AndCo is raising £250k at a £5m valuation on Seedrs and we are investing because... ⁣⁣⁣
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AndCo delivers bookable hot-desks & meeting rooms in hotels & restaurants in London. What differentiates it from the likes of WeWork is that it doesn’t own real estate as such, it seeks to utilise the empty space in cafes, restaurants and hotels. It operates as a subscription based model allowing users to find co-working spaces in over 90 venues in London. The main benefit we see to users is that it removes that feeling of “being in a café for too long” while working. With the rise of flexible work, more and more users are looking for alternatives to escape the home for work. Furthermore, the company has already achieved impressive numbers in terms of LTV, conversion and growth. The only doubt we have with the business model is that while it operates with relatively low costs, we are not sure as to how big the market can actually get. All in all, we are happy to invest.⁣
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https://www.seedrs.com/jafa/⁣
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Overall 💎6/10💎⁣
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Investment Criteria:⁣
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Company⁣
Problem 🤔: 💎 💎⁣
Product / Solution 💡: 💎 💎⁣
Team 👨🏻‍💻: 💎 💎⁣
Other (IP/Tech/Exit): - 💎⁣
Market⁣
Market Potential 🚀: 💎⁣
Positioning vs. Comp.🥊: 💎 💎⁣
Growth Strategy 📈: 💎 💎⁣
Barriers to Entry⛔️: 💎 💎⁣
Deal Specific⁣
Valuation Multiples 🔢: 💎⁣
Debt⚖️: 💎⁣

12/01/2020

⚽️ JAFA is raising £230k at a £2m valuation on Seedrs and we are not investing because... ❌⁣⁣⁣
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JAFA is an app that allows sport fans to access sport news and interact with each other. The objective of the company is to become the go to place for fans to debate, discuss and analyse all aspects around their favourite sport. Simultaneously it also seeks to offer businesses with a platform where they can better target sport fans and use data analytics.⁣
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Sports media is a space that has been booming recently as users seek a more personal and interactive experience to bridge the gap between traditional media and social media. Recently we have seen a number of new players emerge such as “The Athletic” that have come to bridge this gap. Having tried the app, the technology behind it seems excellent and the sign up process runs very smoothly. The problem we see is that apart from summarising news and allowing fans to engage with each other, we don’t see anything truly unique about the platform. The fact that it doesn’t have any proprietary content means it’s going to be a pure technology play. This makes us have some serious doubts on the long term defensibility of the business, and therefore we are not investing.⁣
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https://www.seedrs.com/jafa/⁣
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Overall 💎5/10💎⁣
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Investment Criteria:⁣
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Company⁣
Problem 🤔: 💎 💎⁣
Product / Solution 💡: 💎 💎⁣
Team 👨🏻‍💻: 💎 💎⁣
Other (IP/Tech/Exit): -⁣
Market⁣
Market Potential 🚀: 💎⁣
Positioning vs. Comp.🥊: 💎⁣
Growth Strategy 📈: 💎⁣
Barriers to Entry⛔️: 💎⁣
Deal Specific⁣
Valuation Multiples 🔢: 💎 💎⁣
Debt⚖️: 💎

Bambino Capital

02/11/2020

28/10/2020

27/10/2020

08/10/2020

30/09/2020

23/09/2020

02/05/2020

16/04/2020

22/01/2020

18/01/2020

12/01/2020

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