22 - Will Goodwin and Fred Ursell on investing in consumer businesses and how their process has evolved

Although consumer markets are a big part of quoted markets, they are something of a niche in EIS & VCTs. Pembroke specialise in consumer companies, with a portfolio including hospitality, food, fashion and wellness businesses. We talk about the philosophy for investing, how they can make venture scale businesses and the challenges of operating consumer-facing locations and online facilities simultaneously. COVID has loomed extra large for consumer businesses, and we discuss how the portfolio has responded and the importance of management teams in this process. Pembroke VCT - https://www.pembrokevct.com/ (https://www.pembrokevct.com/) Pembroke's Instagram - https://www.instagram.com/pembrokevct/ (https://www.instagram.com/pembrokevct/) Suggested books: https://www.amazon.co.uk/Compound-Effect-Jumpstart-Income-Success/dp/0306924633/ref=sr_1_1?crid=3IDN464ZQRPHC&dchild=1&keywords=compound+effect+darren+hardy&qid=1615310478&sprefix=compound+effec%2Caps%2C156&sr=8-1 (The Compound Effect: Jumpstart Your Income, Your Life, Your Success) by Darren Hardy https://www.amazon.co.uk/Mindf-Inside-Cambridge-Analyticas-Break/dp/1788165004/ref=sr_1_1?crid=2RVI3AZM1HBAR&dchild=1&keywords=mindfck+by+christopher+wylie&qid=1615310522&sprefix=mindfck%2Caps%2C165&sr=8-1 (Mindf*ck: Inside Cambridge Analytica’s Plot to Break the World) by Christopher Wylie https://www.amazon.co.uk/Humble-Pi-Comedy-Maths-Errors/dp/0141989149/ref=sr_1_1?crid=WFTY30REB3IP&dchild=1&keywords=humble+pi+matt+parker&qid=1615310579&sprefix=humble+pi%2Caps%2C167&sr=8-1 (Humble Pi: A Comedy of Maths Errors) by Matt Parker