Open Offers

A selection of Tax Efficient Opportunities open for investment. Delve in deeper and read Hardman research reports and take a few minutes to watch our videos to get a better insight on the people, the funds and their difference

Strategy

Strategy
  • Asset Backed
  • Growth
  • Income
  • Seed
  • Venture

Structure

Structure
  • Fund
  • Single
  • Platform

Type

Type
  • BR
  • EIS
  • IHT
  • SEIS
  • VCT

Manager

Manager
  • acceleris
  • ascension
  • albion capital
  • amadeus capital
  • amati global
  • amberside capital
  • amersham investments
  • amio wealth
  • aratus capital
  • arie capital

Sector

Sector
  • AIM
  • Biotechnology
  • BIR
  • Energy
  • Generalist
  • Healthcare and Services
  • Impact
  • Media
  • Life Sciences
  • Platform

Min. investment

Min. investment

Keep updated on the most important financial events 

Make sure you are an informed

wealth professional..

Adblock Blocker

We have detected that you are using

adblocking plugin in your browser. 

Open Offers

Welcome to GBI Magazine’s Open Offers page

Watch our explainer video here for a demonstration of how the site works, and how to make best use of the Open Offers search facility.

Our page is uniquely available for advisers to filter, research and invest in tax-efficient investment options in one place, and is completely free of charge for IFA and GBI Magazine readers.
Amount to be Raised: £3m
Open Offers

Jenson SEIS Fund

Jenson Funding Partners is the approachable startup investment firm specialising in working with founders throughout their early-stage growth – from pre-seed to Series A. Its diverse and experienced team understands what a business needs at each stage and combines quickly deployed capital with hands-on support to successfully scale the companies in their portfolio and deliver returns for investors.

Jenson is an established player in the early-stage VC ecosystem with ambitions to grow. Founded in 2012, Jenson has launched five SEIS and four EIS Funds investing £18.5 million in over 110 entrepreneurial UK businesses which have typically launched their product or service and are typically close to or post revenue. In addition, has supported 30 follow on funding rounds via the EIS Fund, all at premium to initial launch cost.

The Jenson SEIS Fund aims to target new innovative companies which are developing disruptive technologies with established plans and management teams, demonstrated growth potential with strong commercial opportunities with a planned exit strategy. The Fund is a generalist fund, thereby the sector focus is agnostic and the type of businesses and opportunities can be anything that is SEIS compliant (typically small early stage companies in non-capital intensive sectors).

Jenson has a strong pipeline of investment opportunities.

Highlights

Amount to be Raised: £5m

Minimum Investment:
£15,000

Open Offers

Oxford Technology Combined SEIS and EIS Fund - “The Start-up Fund”

Oxford Technology invests in high-risk, high-reward technology start-ups, in general within an hour’s drive of Oxford, and has been doing this since 1983. The latest fund, OT(S)EIS made its first investment in late 2012. By 31st September 2021, OT(S)EIS had completed 172 investments in 48 companies.

Things continue to go well, and over Q3 2021, the tax free gain on the portfolio increased by 15% since Q2, from £12.78m to £14.72m.

The figures for the fund as a whole since its inception are as follows:

Gross amount invested by OT(S)EIS: £ 9.30m
Cash back to investors via tax reliefs: £ 3.46m
Net cost of these investments after tax reliefs: £ 5.84m
Cash back from exits: £ 0.24m*
Fair value of remaining portfolio: £ 20.56m
Total value: £ 24.26m
Tax free gain (on paper only so far): £ 14.72m
After tax losses on
the four failures: £ 0.14m


*OT(S)EIS investors who made an SEIS investment in Animal Dynamics, an Oxford University spin- out, at 14p per share (7p after SEIS tax relief) in June 2015, had the opportunity to exit in March 2019 at 97p per share (so 14x the after tax share price). About 50% of the shareholders opted to sell with 50% opting to remain – the company is doing very well.

We remain open for investment at any time. We average about one or two new investments per quarter, and investors in the fund receive their pro-rata share of these. The latest quarterly report, with a page of information on each investment is downloadable from www.oxfordtechnology.com.

At 10am on the first Thursday of each month, Oxford Technology holds a Zoom meeting at which one or more of its existing investee companies which are seeking expansion capital present, enabling investors to make direct EIS investments. Sign up to attend via www.oxfordtechnology.com

Amount to be Raised: £10m

Minimum Investment: £25,000

Open Offers

The o2h human health EIS knowledge intensive fund

o2h ventures launched the o2h human health EIS knowledge intensive fund as the first HMRC approved knowledge intensive fund.

The investment focus of the HMRC approved knowledge intensive fund will be therapeutic drug opportunities or technologies that enable drug discovery with an emphasis on Artificial Intelligence (AI). The geographic scope shall be UK wide, following on from the success of the ‘o2h human health EIS Fund.

Knowledge intensive investing offers investors an opportunity to take advantage of the predictability of the tax year, from which they are able to claim relief. To date, investors in EIS funds claim relief when the funds are deployed into a business. However, in the new HMRC approved knowledge intensive funds, relief is dated when the investment into the fund is made (with carry back options depending on individual circumstances).

The biotech sector is one of the leading sectors in the UK economy. The large pharma companies now rely on the small innovative biotechs for new ideas in disease areas such as cancer, genomics, anti-ageing and neurosciences amongst others which has led to higher potential exit valuations. The fund will widen the community of investors that will help expand early stage research in the UK.

The o2h team are leaders in the biotech community and have been actively involved as investors, holding various board/industry positions as well as being engaged in grassroots scientific activity for over 20 years. o2h operate from their proprietary 2.7 acre o2h SciTech Park where they are developing a unique model for incubating small life science companies.

Key Highlights

The first HMRC approved Knowledge intensive fund
Open Offers

Blackfinch Ventures EIS Portfolios

EIS Provider

The Blackfinch Ventures EIS Portfolios are our open offering as a provider of Enterprise Investment Scheme (EIS) services. We have a strong track record in EIS, having previously raised funding across sectors. We’re passionate about supporting new firms as they grow.

Tech Focus

We invest in forward-thinking new technology companies. Firms operate across sectors, with offerings based on ground-breaking new concepts, using highly specialised technology. With the potential to change the way we live and work, they’re set to make an impact in global markets.

Return Targets

We target higher returns of 3-5x on investment, focused on successful outcomes for clients and companies. We identify firms early in their life and invest before they take off. Risk management is key to our strategy.

Tax Benefits

Capital at risk.
Open Offers

Blackfinch Adapt IHT Portfolios

Meeting the Inheritance Tax Challenge

Inheritance Tax (IHT) legislation, set against property values, means this tax remains a challenge for many. Our IHT solution uses Business Relief for a swifter route to IHT exemption after just two years (and if held at death).

Diverse Opportunities

Three investee firms provide access to a wide range of opportunities:

Choice

Each client can choose from four model portfolios. This means each can find what’s right for them in terms of sustainable investing, their objectives and risk profile.
*All target returns net of costs and charges

Value

We only take an annual management fee of 0.5% +VAT after we have achieved the minimum target return on the model portfolio a client selects.

Control

Clients retain access to and control of capital, enabling withdrawals if their situation changes. They can also take regular payments or leave capital invested.

Capital at risk.

Open Offers

Blackfinch Spring VCT

Growth-Stage Investing

The Blackfinch Spring VCT invests in technology-enabled firms at growth stage, bringing a higher chance of success. We invest in firms that have already raised funding, gained traction and aim to accelerate the scale-up process.

Tech-Enabled Firms

We’re focused on companies using the Internet, mobile devices and social media to offer better products and services. Exposure to different firms and sectors helps create portfolio diversification.

Return Targets

We target firms offering the potential for higher returns at exit. They need to show they have revenue and customers, and are capable of disrupting large, growing markets.

Tax Benefits

Discounts

Capital at risk.

Amount to be Raised:
£3m

Open Offers

Jenson EIS Fund

Jenson Funding Partners is the approachable startup investment firm specialising in working with founders throughout their early-stage growth – from pre-seed to Series A. Its diverse and experienced team understands what a business needs at each stage and combines quickly deployed capital with hands-on support to successfully scale the companies in their portfolio and deliver returns for investors.

Jenson is an established player in the early-stage VC ecosystem with ambitions to grow. Founded in 2012, Jenson has launched five SEIS and four EIS Funds investing £18.5 million in over 110 entrepreneurial UK businesses which have typically launched their product or service and are typically close to or post revenue. In addition, has supported 30 follow on funding rounds via the EIS Fund, all at premium to initial launch cost.

The Jenson EIS Fund has a mandate to focus on long-term capital growth and enables private investors to invest in a range of committed and ambitious entrepreneurs and their early stage growing companies. The Jenson EIS Fund predominantly facilitates syndicated follow-on funding to its existing portfolio, external opportunities are also considered allowing us to benchmark against our existing opportunities. Investing in our portfolio allows us to support management teams that we have already worked along side. All companies will be small unquoted UK companies that qualify under the EIS tax rules. The Fund is a generalist fund, thereby the sector focus is agnostic, and the type of businesses and opportunities can be anything that is EIS compliant (typically small early stage companies in non-capital intensive sectors).

Highlights

Amount to be Raised:
N/A

Minimum Investment:
£25,000

Open Offers

Oxford Capital Growth EIS

Established in 1999, Oxford Capital is an alternative investment manager passionate about investing in early stage technology companies. For over 20 years, we have offered private investors access to many high-impact technology companies in sectors which the UK is considered a world leader. We partner with portfolio companies and founders to help grow their businesses and deliver meaningful impact in their fields.

The Oxford Capital Growth EIS is an evergreen fund that offers investors the opportunity to invest in a portfolio of shares in early stage technology companies that have the potential to grow rapidly. The portfolio of 8-12 companies provides exposure to sectors such as artificial intelligence and machine learning, financial technologies and future of retail.

We aim to invest in companies that are:
We aim to fully invest each initial subscription within 12-18 months and exit most investments within 5-7 years. Capital at risk, unquoted companies are a high risk investment.

Unquoted companies are a high-risk investment. Capital is at risk. Investment is of a long term and illiquid nature. Any tax advantages depend on individual circumstances. Sole responsibility for suitability of the investment for an investor lies with the investment adviser.
Amount to be Raised: N/A
Minimum Investment: £5,000
Open Offers

GrowthInvest - The Tax Efficient Platform for Advisers

GrowthInvest simplifies research, investment and reporting on alternative and tax-efficient assets. Through our smart technology platform, we serve wealth managers, financial advisers, and their clients. Our core service offers:
We have placed the adviser and their clients at the heart of everything we do. Contact us to discuss your specific requirements and for a demonstration of the future of alternative and tax efficient investing.

Amount to be Raised:
N/A

Minimum Investment:
£25,000

Open Offers

Octopus Inheritance Tax Service

Since 2007, the Octopus Inheritance Tax Service has given investors the opportunity to invest in the shares of companies making a positive contribution to the UK’s economic growth. The companies are unquoted, which means their shares do not trade on any stock exchange. We select companies that we expect to qualify for Business Property Relief (BPR). This is a government approved relief from inheritance tax. Provided the investment has been held for at least two years at the time of death, it can be left to their beneficiaries free of inheritance tax.

Octopus Inheritance Tax Service is a Discretionary Fund Management Service. The service aims to deliver steady investment growth of 3% per year on average over the lifetime of an investment. The service is flexible enough to adapt to the investors needs, should their circumstances change in later life, subject to liquidity.

Key risks to keep in mind

BPR-qualifying investments are not suitable for everyone. Any recommendation should be based on a holistic review of your client’s financial situation, objectives and needs. We do not offer investment or tax advice. Issued by Octopus Investments Limited, which is authorised and regulated by the Financial Conduct Authority. Registered office: 33 Holborn, London, EC1N 2HT. Registered in England and Wales No. 03942880. We record telephone calls. Issued: July 2020. CAM010110.

Amount to be Raised:
N/A

Minimum Investment:
£50,000

Open Offers

Octopus Ventures EIS Service

We created the Octopus Ventures EIS Service to give investors the opportunity to invest in 10-15 earlystage businesses with high growth potential (each targeting 10x growth), handpicked and managed by our expert investment teams.

The Octopus Ventures EIS Service could be suitable for those who want to target high growth from a long
term investment, want to diversify their portfolio and those who want to directly own shares in exciting earlystage companies, providing they are comfortable with the risks of early stage investing.

We believe that there are three stages to achieving capital growth from investments in early-stage
businesses, which our specialist in house investment teams are experienced at delivering:
1. Access to investment opportunities that have the potential to achieve high growth.
2. Effective nurturing and support of a business as it matures.
3. The ability to manage a successful exit.
For someone investing on their own, each of these stages would pose a challenge.

We are fortunate that through 20 years of investing in smaller companies, we have established a
reputation that means many talented entrepreneurs approach us with their ideas when they are looking
for a first investment into their business. We also have access to an exciting range of follow-on investment
opportunities in smaller companies seeking additional funding for further expansion.

Key risks to keep in mind
• The value of an EIS investment, and any income from it, can fall as well as rise. Investors may not get
back the full amount they invest.
• Tax treatment depends on individual circumstances and may change in the future.
• Tax reliefs depend on the portfolio companies maintaining their EIS-qualifying status.
• The share price of EIS companies may be volatile and they may be hard to sell.
EIS investments are not suitable for everyone. We do not offer investment or tax advice. Issued by Octopus
Investments Limited, which is authorised and regulated by the Financial Conduct Authority. Registered office:
33 Holborn, London, EC1N 2HT. Registered in England and Wales No. 03942880. We record telephone calls.
Issued: November 2020. CAM010471.

Amount to be Raised: £20m raised, uncapped

Minimum Investment:
£25,000

Open Offers

Scale Up EIS Fund

This is Fuel Ventures flagship EIS fund that we have been investing from for 5 years. We invest into 10-15 technology companies each year, with a focus on businesses that are marketplaces, platform or software. We now have 40+ portfolio companies and after 5 years our first fund has an average multiple uplift of 5.6X, validated by external fundraising rounds.

We have an advisory committee with over 50+ year’s experience and exits totalling £3bn+. We put a Director on the Board of every company we invest in and take an active and hands on role in the management and development of each company, plus bring added extra value through our network of sector experts. As a team, we invest 5-10% in total in every fund alongside our investors, which is £2m – £3m into the current fund.

Amount to be Raised:
£10m – £25m per annum

Minimum Investment:
£20,000

Open Offers

Par EIS Fund

Recognised as “highly commended” in the 2020 EIS Association Awards for Best EIS Fund Manager. Across 22 realisations made to date, Par is demonstrating strong and consistent returns to investors.

Par Equity is a leading EIS fund manager, investing in innovative, high growth technology businesses across the north of the UK. We harness the expertise and contacts of our Par Investor Network and wider contacts to create a distinctive, operationally focused investment model that benefits both investors and entrepreneurs.

The Fund is focused on innovative companies. These are companies that are developing new technologies for sale or using advances in technology to disrupt existing markets. Par Equity has invested in companies operating in areas such as software, public health, e-commerce, social media, consumer electronics, photonics, technical textiles and medical devices. The unifying characteristic of Par Equity’s portfolio is therefore the importance of innovative technologies to the investment case underpinning each commitment of capital. In building the investment case, Par Equity draws on the experience, expertise and contacts of the Investment Team, but also the resources of individuals within the Par Investor Network. In this way, Par Equity can make informed decisions across a range of sectors, providing the potential for Investors, over a series of Subscriptions, to gain exposure to a diverse range of growth-oriented investments.

Strategy for the Fund:

Experience and track record of the Fund Manager: as at 31st December 2020

Still accepting investments for this tax year for Carry Back to 19/20. Investments required by the 19th March 2021.

Amount to be Raised: £10m+ this year

Minimum Investment:
£10,000

Open Offers

Haatch Ventures EIS Fund

The Haatch Ventures EIS Fund is an award-winning Fund managed by successful entrepreneurs who have between them founded, scaled and sold businesses worth over $150 million.

The Fund aims to back four to six early stage companies per tranche that have highly scalable and disruptive models for growth through digital transformation. The Haatch team of hands-on value creators use their knowledge, experience and network to accelerate the growth of portfolio businesses via its ‘Smart Money’ approach, providing support in many areas, including go-to-market, digital development and marketing.

“The Fund has a target return of 10x which is significantly higher than any other SEIS or EIS Fund currently fundraising and listed on MICAP, and the track record of Haatch Angel somewhat supports the ambition of this target.” – MICAP.
Amount to be Raised: Uncapped

Minimum Investment:
£10,000

Open Offers

Nova Cofoundery SEIS & EIS Fund

Members of the Nova team have spent the last 10 years developing their cofoundery model which we believe addresses 5 of the most common mistakes made by startups.
The Fund is intended for those UK tax-paying individuals:

The minimum individual investment in The Fund is £10,000. At the Investment Manager’s discretion, smaller individual investments may be accepted, however, this is not guaranteed. The selection of investee companies and the subsequent allocation of investor’s subscriptions to the investee companies are made at the discretion of the Investment Manager with guidance from the Investment Advisor.

Highlights

An engaged hands-on approach from an experienced startup team
Still accepting investments for this tax year for Carry Back to 19/20. Investments required by the 19th March 2021.
Amount to be Raised: N/A

Minimum Investment:
£25,000

Open Offers

Mercia EIS fund

Mercia’s EIS Funds have an investment-led venture capital strategy, investing nationally with a focus on the underserved regions; specialising in the identification, creation, funding and scaling of innovative technology businesses with high growth potential, creating a strong investment proposition.

Mercia has an Investment Team of industry specialists with venture capital expertise, working extensively with portfolio companies to scale each business with the aim of ultimately delivering shareholder returns.

Mercia can fund companies with different pools of capital, initially via its own EIS Funds or other third- party funds, and then selectively using Mercia’s proprietary capital. Mercia is therefore able to provide a ‘Complete Capital Solution’ for entrepreneurs and small companies, starting from seed rounds of £100,000, larger rounds of up to £2.0million, and building to funding rounds of £10.0million.

Highlights

Sustained Deal Flow – the consistency in both value and volume of Mercia’s deal flow is hugely supported by deep relationships and networks in each region.

Diversified Portfolio – consisting of approximately 15 EIS qualifying technology companies.

Advance Assurance – will be sought from the HMRC for each investment.

Proactive, specialist asset manager providing capital to regional SMEs (96% invested outside of London).

Eight offices across the UK with 90 investment staff and 19 university partnerships.

The Mercia Group has a substantial track record of delivering realisations from early-stage technology companies.

This EIS fund is managed by a team that has seeded unicorns, and delivered some very high multiple returns for both EIS investors (Clear Review 8x Oct 2020, Native Antigen Company 8.6x July 2020) and Mercia’s other venture capital funds (Allinea 26x Dec 2016, BluePrism 104x July 2019).

Amount to be Raised: Up to £6.5m

Open Offers

Boundary Capital

The Boundary Capital Impact Life Fund is an EIS technology fund that only invests in businesses that make a real difference to millions of people’s lives. The fund invests for profit but only in businesses that seek solutions for some of the biggest problems faced by the World.

It is the UK’s first, and currently only, HMRC Approved Impact fund and invests in a portfolio of early-stage technology businesses. Each has the potential to make a significant and positive difference to at least 100 million people.

It is managed by Boundary Capital, a team of fund managers and entrepreneurs, all highly experienced in B2B disruptive technologies such as life sciences, software, engineering and medical devices. As well as a wealth of fund and entrepreneurial experience, they have deep scientific backgrounds.

The fund methodology for measuring impact is rigorous, robust and transparent and ensures that only impactful investments are made, and impact is monitored throughout their lifecycle along with the financial reporting.

Each investment aims to make at least 10x, and overall the target is 3x over 5 -7 years from a portfolio of 5 – 9 investments. There are no fees payable by investors, only profit share.

The HMRC Approved fund closes on 31 March 2022 means that investors can benefit from a single date for any EIS tax benefits they may qualify for.

Unquoted companies are a high-risk investment. Capital is at risk. Investment is of a long term and illiquid nature. Any tax advantages depend on individual circumstances.
Amount to be Raised: N/AAUM – £49.5m (as at 30/09/2021)
Open Offers

Amati AIM IHT Portfolio Service

“The Service operates on the basis of a Model Portfolio of AIM-quoted stocks, which provides the template for the discretionary management of portfolios held by clients of wealth managers and other intermediaries. The stocks chosen for the Model Portfolio are those that to the best of our knowledge are likely to qualify for Business Property Relief (‘BPR’), and as such could potentially provide up to 100% inheritance tax relief after a holding period of two years (subject to the final determination of HMRC). Dividends received from portfolio companies are re-invested.”

Philosophy & Key Benefits

Amount to be Raised: N/A
Open Offers

Ascension Fair by Design EIS Fund

Ascension has spent the past 7 years building a UK Seed VC where the start-ups / founders that Ascension back sit at the centre of everything, through: low and transparent fees, providing a strong support infrastructure (the creation of a mentor network and frequent ecosystem events), treating them with humility, honesty, conviction, speed, and integrity in all interactions. Ascension believes that building such an ecosystem will attract the best start-ups, co-investment deal-flow, and therefore deliver the highest returns for its investors.

Ascension has achieved four realisations since inception and 45+ businesses are valued at >200%. The FBD EIS fund coinvests with the Fair by Design institutional fund which is backed by Big Society Capital, Comic Relief, Nationwide Building Society and the Joseph Rowntree Foundation. It typically invests in 8-12 companies a year with a core focus on businesses which aim to alleviate the Poverty Premium (the extra price of being poor).

In addition to capital, Ascension provides a bi-annual industry leading impact report, which measures the total Poverty Premium reduction per portfolio company.

Key Investment Features:

The Fund focuses on companies raising their pre-Series A funding round and bridges the equity gap between Seed (SEIS round) and Series A (institutional round), what Ascension terms ‘Seed+’.

When making an investment decision, Ascension carries out ‘lived experience’ work, measuring the efficacy of the product to ensure it can be utilised by all. The Fund co-invests alongside the institutional FBD fund and focuses specifically on businesses which aim to alleviate the Poverty Premium (the extra cost of being poor).
The sectors include:
The Poverty Premium is defined as the extra cost that households on low incomes incur when purchasing the same essential goods and services as households on higher incomes. For example, there are increased costs to credit to those on lower incomes: not only are they more likely to be charged high interest on credit, they are more likely to take out payday loans and credit card bills with inherently high interest rate
Open Offers

Edition Capital

Edition EIS offers investors the opportunity to invest into a portfolio of 8-12 established companies with high growth potential that require scale up capital within the leisure sector. Each portfolio will consist of revenue generating business with c. 70% of the portfolio’s businesses having already a reached profitability. Edition EIS targets returns in excess of £2 per £1 invested, over an investment term of between 4 to 7 years. Investor funds are deployed rapidly within the same tax year as subscription.

Edition has raised c. £50m to date and funds have been deployed into 33 companies, including many well-known names such as Pergola Paddington, The Crystal Maze Live Experience, Snow Boxx and WatchHouse Coffee. With the Edition team’s numerous years of sector relevant experience in investing, they have track record of delivering meaningful returns to investors within their sector niche. Previous exits include Impresario Festivals PLC; operating within the live entertainment sector, Impresario raised £10m of EIS funds to acquire and develop music festivals, and over a two year period acquired four brands. Edition subsequently led the sale of Impresario to the radio, media and entertainment group Global, for a sum in excess of £28m, which led to a pre-performance fee return of £2.33 for investors.
Open Offers

Vala British Ventures EIS

The companies invested into through Vala’s British Ventures EIS are chosen and mentored by a group of successful entrepreneurs who have conceptualised, invested, scaled and ultimately sold venture businesses worth £170m, representing more than 3x the capital invested. Between them they have experience in 40 venture exits with all the learning that accumulates through that experience.

British Ventures EIS provides a fresh alternative to the challenges of venture building. Vala use their financial and intellectual resources to convert ideas into commercial opportunities that create capital value. The Vala British Ventures EIS provides investors with the opportunity to participate in shares of 8-12 small companies with no more than 20% committed to one single company. Deployment is targeted within 6 months of investment into companies from the following sectors: technology, engineering, media and entertainment, fintech, lifestyle and wellness, food and beverage.
“It is worth noting the breadth of experience Vala Capital’s Jasper Smith, Paddy Willis and Arthur Hughes have in founding, incubating or investing in a number of companies over their careers including some exceptional performers.”
MICAP review
“…the investment team’s personal track record of investments are impressive… it does show an ability to generate the sort of investment returns targeted by Vala.”
Allenbridge Review
Open Offers

Vala Sustainable Growth EIS

The Vala Sustainable Growth EIS aims to invest in companies that have the potential to grow rapidly, create significant value for investors, and make a positive contribution to the world’s sustainability challenges.

An impressive team combining successful entrepreneurial experience in the Investment Committee with deep thematic experience in the Investment Team, led by Jonathon Spanos.

The goal is to invest in companies that are aiming to make a meaningful difference to one of the major sustainability issues facing our economy, society and environment. Success for these companies will be defined by three equally important measures: their sustainability impact, their growth and development, and the value they build for investors.

Each investment is targeted to go into a diverse portfolio of 6-10 companies across three investment themes:
“Vala has recruited people with experience in this area and is showing a commitment to developing an ESG orientation across the whole business. The adoption of established frameworks should help position companies well for later exits. The themes that have been adopted look sensible, while remaining somewhat broad.”

Hardman Review

Open Offers

Ascension Life Fund

The Ascension Life Fund is a specialist early-stage EIS fund focussing on the UK HealthTech and Life Sciences sectors.

Since launching in January, the Life Fund has made five investments with another Term Sheet agreed. These investments include Novai (a retinal biomarker for the early detection of eye disease), Stablepharma (vaccine stabilisation technology), Pangaea Data (AI/ML to extract intelligence from health data), MedAll (training and certification for healthcare professionals), and ExSeed (male fertility tracking and monitoring).

In terms of stage, the fund invests at post-seed, pre-Series A and is happy to act as the Lead Investor. We look for companies with strong IP, balanced teams and technical/scientific validation. We focus on companies who are selling to the pharmaceutical industry and do not invest in single asset drug development or wellbeing. We look for a ‘double bottom line’ whereby portfolio companies benefit humanity as well as the prospect of financial returns.


The Ascension Life Fund combines the domain expertise of the Investment Team and Advisors with Ascension’s reputation, operational experience, and track record. We believe that this gives the Fund advantages at each stage of the investment lifecycle (sourcing, selection, due diligence, post-investment support all the way to exit).


Our Investor Overview presentation provides more detail about the Investment Thesis, Team, Portfolio, and Ascension’s Track Record. We have an extremely strong pipeline which we would be happy to discuss with interested parties.


The Ascension Life Fund is an evergreen fund with ambitions to be a major player in the early-stage UK HealthTech and Life Sciences space. We have made great progress in a short period of time and are quickly building a reputation as a smart-money, value-add investor.

Open Offers

Blackfinch Adapt AIM Portfolios

An ISA-Friendly Inheritance Tax Solution

Investors in the AIM market can hold their investments in an AIM ISA. This means that clients can use the Adapt AIM Portfolios for new or existing ISA transfers. So, they get all the tax benefits of an ISA, alongside IHT mitigation and the return potential in AIM.

Expertise

Our partnership with smaller company specialists Chelverton Asset Management means we can offer investors our combined skills and knowledge. Chelverton selects strong AIM-listed firms, avoiding those with valuations inflated often by being held in IHT portfolios. We can then build diversified portfolios that have little overlap with other providers

Choice

Investors can choose from income and growth options. Whatever they choose, their investment could introduce diversification to their overall portfolio and also offer a swifter route to IHT relief.

Speed

Traditional IHT solutions such as gifts or trusts involve investors waiting seven years for full IHT relief. In contrast, once BR-qualifying AIM shares have been held for two years, and if still held at time of death, they’re set for up to 100% IHT relief.

Access and Control

Trust planning or gifting often means giving up control of or having less access to money. This can cause problems if personal or tax circumstances change. However, with the Adapt AIM Portfolios, clients have access to their investments at all times.
Capital at risk.

Amount to be Raised: N/AAUM – £49.5m (as at 30/09/2021)
Open Offers

Amati AIM IHT Portfolio Service

“The Service operates on the basis of a Model Portfolio of AIM-quoted stocks, which provides the template for the discretionary management of portfolios held by clients of wealth managers and other intermediaries. The stocks chosen for the Model Portfolio are those that to the best of our knowledge are likely to qualify for Business Property Relief (‘BPR’), and as such could potentially provide up to 100% inheritance tax relief after a holding period of two years (subject to the final determination of HMRC). Dividends received from portfolio companies are re-invested.”

Philosophy & Key Benefits

Amount to be Raised: N/A
Open Offers

The Ascension EIS Fund

Ascension has spent the past 7 years building a UK Seed VC where the start-ups / founders that we back sit at the centre of everything, through providing a strong support infrastructure (the creation of a mentor network and frequent ecosystem events) and treating them with humility, honesty, conviction, speed, and integrity in all interactions. Ascension believes that building such an ecosystem will attract the best start-ups, co-investment deal-flow, and therefore deliver the highest returns for its investors. Ascension has achieved four recent exits and 45+ initial investments are currently valued at >200%.

Key Investment Features

The Fund focuses on technology companies raising their pre-Series A funding rounds and bridges the equity gap between Seed (SEIS round) and Series A (institutional round), what Ascension terms ‘Seed+’. Ascension focuses on 7 key markets:

Most target investments operate as early-stage scalable, IP rich and tech enabled businesses. Ascension focuses on three key elements of any potential business: the quality of the team, the robustness of the technology vs. competition, and the market size/potential of the product.

At the stage where the Fund invests (Seed+), the founding team is the most important consideration – if the team is strong and combines a mastery of the problem they are trying to solve with a keen eye on commercial opportunities, Ascension will consider an investment. Typically, the team would have at least two co-founders with complementary skills sets: CEO (‘front of house’) and CTO (‘back of house’)

The Ascension team next focuses on the quality of the technology underlying each product, as well as its ability to create a moat around the market opportunity versus current or future competition.

Additionally, the investee target will have a compelling business model capable of rolling out in a large market with global potential. Once confidence in the team, product and market is established, analysis is conducted to discern whether there is a clear route to market for the distribution of the product and to decide where Ascension can add value

Amount to be Raised: Open ended

Open Offers

Deepbridge Technology Growth EIS

The Deepbridge Technology Growth EIS is an opportunity to participate in a portfolio of actively-managed growth-focused technology companies, taking advantage of the potential tax benefits available under the Enterprise Investment Scheme.

A diversified portfolio of actively managed growth-focused companies seeking commercialisation funding, the Deepbridge EIS invests in technology growth companies that have a proven technology, robust intellectual property and are operating in a high growth market sector.
Amount to be Raised: £40m with a £20m over-allotment facility
Open Offers

Pembroke VCT

Pembroke VCT was established in 2013 to provide investors with the opportunity to share in the growth of some of the UK’s most exciting and innovative smaller companies, across industries with strong growth prospects. It has assets under management of over £153 million (as at 30 June 2021).

Pembroke VCT has invested £89.5m million in its current portfolio of 42 companies (as at 30 September 2021). This year Pembroke VCT has marked successful exits from Pasta Evangelists and Plenish, passing on returns to investors by paying special dividends.

New investors will gain immediate access to a maturing portfolio of growing businesses and to a well‑established dividend‑paying VCT. The portfolio includes high growth, innovative brands – such as Popsa, Stitch & Story, ME+EM and Thriva – in the design, education, food, beverage & hospitality, wellness, digital services and media sectors.

Pembroke aims to deploy one third of funds raised into new opportunities and two thirds in follow-on investments in existing holdings, where further capital will allow these companies to take advantage of emerging trends and opportunities. This aligns with Pembroke’s ‘stepping-stone’ approach to investment.
Open Offers

British Smaller Companies VCT2 plc

The objective of British Smaller Companies VCT2 Plc (BSC2) is to maximise Total Return and provide investors with an attractive long-term tax-free dividend yield while maintaining the Company’s status as a venture capital trust. The investment strategy of BSC2 is to invest in UK businesses across a broad range of sectors to create a portfolio that blends a mix of businesses operating in established and emerging industries that offer opportunities in the application and development of innovation in their products and services.
These investments will all meet the definition of a Qualifying Investment and be primarily in unquoted UK companies. It is anticipated that the majority of these businesses will be re-investing their profits for growth and the investments will, therefore, comprise mainly equity instruments.
Open Offers

British Smaller Companies VCT plc

The objective of British Smaller Companies VCT Plc (BSC) is to maximise Total Return and provide investors with an attractive long-term tax-free dividend yield while maintaining the Company’s status as a venture capital trust. The investment strategy of the Company is to invest in UK businesses across a broad range of sectors to create a portfolio that blends a mix of businesses operating in established and emerging industries that offer opportunities in the application and development of innovation in their products and services.

These investments will all meet the definition of a Qualifying Investment and be primarily in unquoted UK companies. It is anticipated that the majority of these businesses will be re-investing their profits for growth and the investments will, therefore, comprise mainly equity instruments.
Open Offers

Worth Capital Start-Up Series Fund

The Start-Up Series Fund is an evergreen EIS & SEIS service. Managed as an Alternative Investment Fund by Amersham Investment Management Limited, authorised and regulated by the FCA. The service is designed for eligible subscribers to be invested in selected winners of the Start-Up Series, a monthly competition organised by Worth Capital Limited and promoted by smallbusiness.co.uk. The Fund invests in qualifying B2C or B2B companies with innovative products or services that can create new consumer behaviours in growth markets, with teams that demonstrate compelling marketing & communication skills and with a clear credible route to exit.

Any investment in the Start-Up Series Fund places capital at risk of total loss and will not be readily realisable. Tax treatment depends on individual circumstances and is subject to change. We recommend retail investors take professional advice before investing.

Open Offers

Committed Capital Growth EIS Portfolio Service

The Committed Capital Growth EIS Portfolio Service is an evergreen fund offering investors the opportunity to invest into a portfolio of 8-12 actively managed, growth stage, post-revenue (over £1m) technology companies, whilst also benefitting from the availability of the generous tax reliefs afforded by the Enterprise Investment Scheme.

Our investment strategy has remained unchanged since 2001. We provide hands-on support to help facilitate growth through to a successful exit, and we have made multiple funding rounds across 33 EIS qualifying investee companies, achieved 21 exits and 1 partial exit. Out of these 22 exits, 21 have been profitable and just 1 has made a partial loss.

Minimum Subscription

£15,000

Target Return

3x ROI (excluding tax reliefs)

Deployment

We aim to invest subscriptions within 6-12 months of investment, into a portfolio of 8-12 companies. If you prefer to be invested in a shorter timeframe into a potentially smaller portfolio, we are of course happy to do so under your instruction.

HMRC Advance Assurance

We always ensure this is received before capital is deployed.

Regional Investors

We always ensure this is received before capital is deployed.

Exit Strategy

The intention is to exit within 4 to 5 years of monies being invested via trade sale, IPO, or where appropriate, a sale to a strategic investor. Historically our exits have been achieved through a trade sale or sale to a strategic investor. More recently, sales to financial investors have also been completed.

Amount to be Raised: Open ended

Open Offers

Deepbridge Estate Planning Service

The Deepbridge Estate Planning Service is an opportunity which intends for subscribers to obtain relief from Inheritance Tax (‘IHT’) after only two years, by deploying into companies that should qualify for Business Relief that operate, and trade in, renewable energy generation assets.

The Deepbridge Estate Planning Service is specifically designed for individuals whose estate is expected to be valued significantly in excess of the Nil Rate Band for Inheritance Tax, currently £325,000.

Subscriptions made by the Deepbridge Estate Planning Service will be illiquid. It may be that your individual circumstances make the Deepbridge Estate Planning Service unsuitable for you. You should seek advice from your Financial Adviser before making any investment decision.

Amount to be Raised: Open ended

Open Offers

Deepbridge Life Science EIS

The Deepbridge Life Sciences EIS is an opportunity to participate in a portfolio of actively-managed growth focused life sciences companies, taking advantage of the potential tax benefits available under the Enterprise Investment Scheme. A diversified portfolio of actively managed growth focused companies seeking commercialisation funding, the Deepbridge EIS invests in life sciences companies that have robust intellectual property and are operating in a high growth market sector.

The investment strategy of the Deepbridge Life Sciences EIS is to invest in a diversified portfolio of companies that participate in one of the following:
Deepbridge takes an active role (not just a Board seat) to guide, mentor and counsel the investee management team. The provision of hands on operational experience combined with financial expertise aims to mitigate the investment risk borne by the Investor, along with comprehensive due diligence on investee companies
IFA Magazine