Multi-award-winning venture capital investment manager, Deepbridge Capital, has announced that it is opening a new £1m tranche of the Deepbridge Innovation SEIS fund.
The Deepbridge Innovation SEIS enables private investors to access a portfolio of early-stage companies within the UK’s vibrant tech sector, whilst benefiting from the generous potential tax reliefs available via the Government’s Seed Enterprise Investment Scheme.
Providing seed investment to emerging UK-based tech companies, the fund seeks to provide capital to companies with exciting new technologies that seek to satisfy the needs of large and growing markets.
The Seed Enterprise Investment Scheme (SEIS) was introduced in April 2012 by HMRC to help small, early-stage companies raise funds through individual investors by providing a series of tax reliefs on investments made into qualifying companies.
The Seed Enterprise Investment Scheme is structured to provide eligible investors who are tax resident in the UK, with the opportunity to obtain tax advantages available under the Seed Enterprise Investment Scheme (SEIS) legislation; including 50% income tax relief up to a maximum investment of £100,000 per tax year, 50% CGT mitigation, tax free gains, 100% inheritance tax exemption and share loss relief.
Investments in the Deepbridge Innovation SEIS are subject to a minimum subscription of £25,000 with funds expected to be deployed in the 2022/23 tax year.
Deepbridge also manages the Deepbridge Technology Growth EIS, the Deepbridge Life Sciences EIS, the Deepbridge Life Sciences SEIS and the Deepbridge Estate Planning Service.
Adrian Neilan, Investment Director, Technology, at Deepbridge Capital commented: “In response to significant demand from financial advisers and investors, we are delighted to be seeking a further £1m of SEIS capital via the Deepbridge Innovation SEIS. The UK Government’s Seed Enterprise Investment Scheme is a world-leading initiative; providing investors with significant tax reliefs as an incentive to support seed-stage companies which are seeking to create the innovation and jobs of tomorrow.
“Hardman & Co’s recent white paper entitled ‘how much should clients invest in venture capital,’ highlighted the need for investors to include venture capital within a portfolio and how adding seed-stage investments can dramatically increase return profiles for appropriate clients. Given the growing interest in such investments, as part of a diversified portfolio, we expect that this fundraising tranche will yet again be oversubscribed so we urge interested advisers to contact their local Deepbridge representative at the earliest opportunity.”