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One Planet Capital launches SEIS fund

by | May 29, 2024

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OnePlanetCapital, the Climate change-focused venture capital fund, is launching a Seed Enterprise Investment Scheme (SEIS) fund to invest in early-stage startups across the UK that are accelerating the transition to net zero and a green economy.

The inaugural SEIS fund will be raising circa  £1.0 million to invest into SEIS qualifying climate tech businesses over the next 12 months, continuing the investment strategy of the OnePlanetCapital flagship EIS fund but focused on earlier-stage companies at pre-seed and seed level.

OnePlanetCapital’s co-founders will anchor the fund with their own capital which will capitalize on the recent expansion of the SEIS tax incentive scheme. Startups are now able to secure £250,000 funding with tax reliefs, compared to the previous £150,000 limit. Companies that are three years old will also be eligible, up from two years previously. OnePlanetCapital’s SEIS fund will provide investors the opportunity to participate in a fund which targets a return of £3 for each £1 invested over a 5 to 7-year period together with 50% SEIS income tax relief.

 
 

The SEIS fund will build on the success of OnePlanetCapital’s EIS fund which was launched in 2021 and has grown to £10m of assets under management with 31 investments made. This fund launch also builds on the recent launch of the OnePlanetCapital angel syndicate offering a wide range of investment options for investors to invest in climate tech in the UK at varying stages of the startup lifecycle.

In the last year, OnePlanetCapital has invested in 12 businesses including GT Green Technologies, a wind propulsion technology start-up, Kelpi – one of the leading bioplastics innovators in the UK,  and RAD Propulsion – an electric maritime drivetrain manufacturer.

In recent years, OnePlanetCapital has become a market leader in early-stage EIS climate tech investing and has duly won the best new EIS fund at the EISA awards and Team of the Year at Growth Invest awards.

 
 

Matthew Jellicoe, Co-Founder and Investment Director said of the SEIS fund launch:

“In general we see the SEIS fund market as underserved in the UK and we believe passionately that bringing an SEIS climate Tech fund to market will resonate with investors looking to move into this fast-growing sector.

“The SEIS fund also allows us to invest into earlier stage businesses that the OnePlanetCapital EIS fund as this has a later stage mandate – and for many areas such as battery storage and hydrogen technology it is interesting to invest into earlier stage pre revenue businesses in order to capture value for investors.”

 
 

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