Market-leading tax efficient investment specialist Deepbridge Capital has today (10 August 2023) announced its latest SEIS fundraise.
The Deepbridge Innovation SEIS is seeking to raise £1m to support a portfolio of up to 10 highly innovative investee companies across a diverse range of technology sub sectors, allowing investors access to the unrivalled tax incentives available via the UK Government’s Seed Enterprise Investment Scheme.
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. It is structured to provide eligible investors who are tax residents in the UK, with the opportunity to obtain tax advantages available under the SEIS legislation. From 6th April 2023, investors may subscribe up to £200,000 via the SEIS in a single tax year.
With more than £300m of venture capital provided to the technology, life sciences and renewable energy sectors, Deepbridge has deployed over £16m of SEIS capital to date.
89% of Deepbridge’s deployed SEIS capital has provided vital funding outside of London, including all 4 nations of the UK and supported spin-outs from 17 different universities. This cross-region remit of Deepbridge’s SEIS funding follows the Treasury Committee’s July 2023 report, challenging VCs to address statistics showing 80% of UK venture capital is focused solely on the ‘Golden Triangle,’ being London, Oxford and Cambridge.
Companies that have received SEIS funding via Deepbridge to date include; Ecosystem Labs, Elasmogen, GenoMe Diagnostics, Microplate DX, Smallspark Space Systems, Stent-Tek, Touch Biometrix and Trigenex.
The latest funding round for the Deepbridge Innovation SEIS has a closing date of 30th September or when £1m is raised, whichever comes sooner.
Andrew Aldridge, Chief Marketing Officer at Deepbridge, commented:
“Consistently witnessing the quality, range and abundance of exciting innovation-focused companies across all corners of the UK, it is pleasing to report that Deepbridge’s SEIS funding is helping address the significant regional imbalance of venture capital in the UK. No matter where companies are based, it is our objective to provide investors with access to portfolios of the very best early-stage investment opportunities.”
Ian Warwick, Managing Partner at Deepbridge, commented:
“The UK continues to be a global leader when it comes to technological advancements and the commercialisation of academic ideas. The Seed Enterprise Investment Scheme and the Enterprise Investment Scheme are designed to encourage investors to support early-stage innovators seeking to create the jobs, companies and technologies of tomorrow. We are delighted to continue to support credible, focused and exciting founders from across the length and breadth of the United Kingdom, developing great intellectual property and highlighting the astonishing innovation wherever that may be.”
Interested investors should seek independent financial advice.