Ahead of the Tax Year End 2021, we are taking a snapshot look at some of the tax efficient investment opportunities for your clients to consider.
Today we are looking at Jenson Funding Partners.
Jenson are one of the longest running SEIS Fund Managers:
- Founded in 2013 with the first SEIS Fund, first EIS Fund launched in 2015;
- To date Jenson has invested £18m into over 100* companies;
- 9 SEIS exits to date with an average cash return multiple of 2.8x rising to 4.2x including non-cash and deferred returns;
- 1st EIS exit in February 2021 providing a return on two Funds from 1.4x to 2.2x which should increase with companies that still remain in the fund, further details on the exit to be announced soon; and
- Launched an automated paperless online application process.
*110 invested, 57 companies still active, 9 exited.
The Jenson EIS Fund will close on 24th March 21 and has the ability to deploy £6m of investment in this tax year. Jenson’s deal flow is sourced from existing S/EIS portfolio companies where there is an existing founder relationship, selecting teams that have demonstrated execution of their business plan. Targeting the ‘EIS Equity Gap’ (round of funding after an SEIS round (commercial traction) and prior to a later stage EIS / Pre-Series A round), EIS Funds are used predominantly to support the continued commercialisation of the company.
The Jenson SEIS Fund has already closed two tranches during this current tax year having reached its maximum fund raise. The Fund remains open for further investment with deployment in the 2021/22 tax year which will be available for carry back relief to the 2020/21 tax year.