Don’t invest unless you’re prepared to lose all the money you invest. These are high-risk investments and you are unlikely to be protected if something goes wrong.

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Risk summary for non-readily realisable securities which are shares:

Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.

Last updated: 01 July 2026

What are the key risks?
  1. 1. You could lose all the money you invest

    If the business you invest in fails, you are likely to lose 100% of the money you invested. Most start-up businesses fail.

  2. 2. You are unlikely to be protected if something goes wrong

    Protection from the Financial Services Compensation Scheme (FSCS), in relation to claims against failed regulated firms, does not cover poor investment performance.

    Try the FSCS Investment Protection Checker

    or use this URL link:

    www.fscs.org.uk/check/investment-protection-checker.


    Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA-regulated firm, FOS may be able to consider it.

    Learn more about this service from the following Financial Ombudsman Service Protection

    or use this URL link:

    www.financial-ombudsman.org.uk/consumers.

  3. 3. You won’t get your money back quickly

    Even if the business you invest in is successful, it may take several years to get your money back. You are unlikely to be able to sell your investment early.

    The most likely way to get your money back is if the business is bought by another business or lists its shares on an exchange such as the London Stock Exchange. These events are not common.

    If you are investing in a start-up business, you should not expect to get your money back through dividends. Start-up businesses rarely pay these.

  4. 4. Don’t put all your eggs in one basket

    Putting all your money into a single business or type of investment, for example, is risky. Spreading your money across different investments makes you less dependent on anyone to do well.

    A good rule of thumb is not to invest more than 10% of your money in high-risk investments.

    Read more at the FCA InvestSmart Guide

    or use this URL link:

    www.fca.org.uk/investsmart/5-questions-ask-you-invest

    5. The value of your investment can be reduced

    Putting all your money into a single business or type of investment, for example, is risky. Spreading your money across different investments makes you less dependent on anyone to do well.

    The percentage of the business that you own will decrease if the business issues more shares. This could mean that the value of your investment reduces, depending on how much the business grows. Most start-up businesses issue multiple rounds of shares.

    These new shares could have additional rights that your shares don’t have, such as the right to receive a fixed dividend, which could further reduce your chances of getting a return on your investment.

    If you are interested in learning more about how to protect yourself, visit the FCA website:

    FCA InvestSmart

    or use this URL link:

    www.fca.org.uk/investsmart.

    Please find the PDF version of the Risk Summary.

serena _cutout (1)

Serena Joseph

Board Advisor

"Serena provides strategic challenge, valuable insights and pragmatic guidance, working closely with the partners to achieve collective goals, advising on the development of Sapphire’s governance and culture and thereby facilitating its growth."

Serena has had a distinguished career in the City of London and is a senior board member with more than 30 years' experience as a banker and consultant with leading advisory firms, with a particular focus on change and OD, corporate governance, operational risk management, FS compliance and culture. Serena draws on profound technical knowledge, excellent strategic and commercial understanding and a deep network of industry relationships. Serena has developed an outstanding track record for consistently delivering transformational initiatives.

Serena currently holds two Non-Executive Director roles. At digital start-up Kroo Bank Limited, Serena is Chair of the Risk Committee, Consumer Duty INED Champion and a Member of the Audit, Remuneration and Nominations Committees. At ICICI Bank (UK) plc, Serena is Chair of the Conduct Risk Committee, Chair of the Governance, Remuneration & Nominations Committee, Consumer Duty INED Champion and a Member of the Audit, Risk and Credit Committees.

 

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