The fund’s investment strategy is to invest in a diverse portfolio of EIS-qualifying investments in data, digital, education or health areas.
Strategy: To fund companies that have existing products and support them in scaling up.
Track record: No exits to date, but the unrealised figures show some promise.
The investment manager
Team: The team has a broad experience in corporate finance, tax and accounting, as well as investment.
Small team: The team is small, and is dependent on a couple of key people.
Nuts & bolts
- Duration: The fund is expected to have an eight-year lifespan, with closings as required.
- Diversification: The manager expects to provide 8 to 10 EIS investments in the fund, with the possibility of growing to up to 15.
- Valuation: Reviewed twice a year, with updates on progress being sent more frequently.
- Fees: A mixture of direct fees and those charged to the investee companies.
- Performance fee: Charged on a portfolio basis at 20% for returns over £1.
- Target returns: There is no explicit target return, but the strategy suggests a high-risk investment strategy.
- Companies: Supplying risk capital to early-stage technology companies at the start of commercialisation. There will be a spread of company returns, as the successful investments will do very well, but those that fail may do so completely.