Many shareholders make light work

His lifestyle management services business is backed by 110 private investors who are a mixture of staff, family, friends and other interested parties who have asked to take a stake in the company.

Cheatle says it’s an easy group to manage. “Their expectations, unlike VCs, are not about control," he says. "They can influence the company but they don’t control it. For most of them, it’s something they’ve invested in that they want to work, but they’re not being held to account if it doesn’t work.”

Ten took on external investment when it was a start-up and has also raised money for development capital.

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