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...invested in Powa.)...
...Powa’s main backer was Wellington Management, a Boston-based investment firm....
...It did for Dan Wagner’s Powa Technologies. It did for David Brown’s Ve Interactive. And it will for other overhyped tech startups....
...But if he fails, it will be another black mark for the UK startup scene, which has already lost two unicorns, Powa Technologies and Ve Interactive, in rapid succession....
...Related Links: All of our coverage on Powa and its collapse — FT & FTAV U.K. Startup Powa’s Failure Sparks Cross-Atlantic Spat — Wall Street Journal...
...kadhim.shubber@ft.com Related links: Ve Interactive, the unicorn that hates venture capital — FT Alphaville Ve Interactive: Part Two — FT Alphaville Is Ve Interactive really a unicorn?...
...Last February, another one-time UK unicorn, Powa Technologies, went into administration after blowing through more than $200m of funding....
...Related Link: All of our coverage on Powa and its collapse — FT & FTAV...
...Powa Technologies Group PLC was a holding company that “received and managed the funding investment” going into Powa, according to Deloitte....
...Mr White was subsequently a director of Powa for a short time....
...There are just a handful of such companies in the UK, including Transferwise, Funding Circle and, until its spectacular failure last year, Dan Wagner’s Powa Technologies....
...Dan Wagner is already working on his next venture after the spectacular failure of Powa Technologies and is making a clean break from the past to do so....
...Powa was a company that sold ecommerce hardware and software....
...Powa Technologies may be long gone, but the dust has yet to settle....
...Dan Wagner’s Powa Technologies was thought to be one before its collapse in February this year....
...kadhim.shubber@ft.com Related links: Ve Interactive, the unicorn that hates venture capital — FT Alphaville Is Ve Interactive really a unicorn?...
...Related Links All of our coverage on Powa and its collapse – FT & FTAV When a Unicorn Start-Up Stumbles, Its Employees Get Hurt – New York Times...
...Related Links: Powa Technologies missed staff and contractor payments – FT.com Powa Technologies accounts show it had just $250,000 in bank – FT.com Powa Technologies in administration after investor calls...
...Related Links: All of our coverage on Powa – FT & FTAV...
...Related links: All of our coverage on Powa and its collapse – FT & FTAV...
...The following day, Powa investor Wellington Management pulled the plug and put the Powa group holding company into administration....
...Mr Wagner and three other directors have also been removed from the board of Powa Technologies Limited, one of two operating subsidiaries. Powa Technologies Limited was also put into administration....
...kadhim.shubber@ft.com *This article has been revised to make clear the £2.3m borrowed by five Ve directors accrued over a number of years prior to the end of 2014....
...By now, we know a lot about the sad story of Dan Wagner’s Powa Technologies....
...And, yes, the Financial Times reported it too, saying Powa had “signed a joint venture with China UnionPay” — a line we repeated in February, when we first revealed trouble at Powa....
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