The Fund Twenty8 has successfully closed at £4.5m.
Fund Twenty8 is a passive Enterprise Investment Scheme (EIS) fund from online investment platform SyndicateRoom. It is designed to bring a portfolio approach to investment in early-stage companies and has attracted some 233 investors, a number of which invested £200,000, with the average investment just shy of £20,000.
SyndicateRoom says that the fund brings a fresh approach to traditional fund management styles by harnessing technology to make investment decisions, rather than relying on a single fund manager.
CEO and co-founder SyndicateRoom Gonçalo de Vasconcelos (pictured above) said: “I’m incredibly proud of the portfolio of companies SyndicateRoom has built – and Fund Twenty8 will be a fantastic route for investors wishing to access a diversified EIS portfolio.
“We’ve harnessed technology in a unique way, and it has truly challenged the traditional fund management model of today. Seeing such a positive response has been an incredible endorsement of our belief in offering choice to investors, catering to all risk appetites and both passive and active investors.”
Chief Investment Officer at SyndicateRoom James Sore added: “Our mission has always been to provide online investors with fair and transparent access to high quality investments. Great British businesses, many of which are seeking to make the world a better place. With the capital already committed into Fund Twenty8, we look forward to welcoming many more of these companies, seeking to fund the next phase of their equity journey, onto the SyndicateRoom platform.”
Fund Twenty8 2016/17 will begin to deploy in April and SyndicateRoom members will get the opportunity to invest in Fund Twenty8 2017/18 later in the year.
