EIS guide

69 PROVIDERS IN FOCUS * Where: a) aggregate distributions to the investor exceed the net cost of the investor’s subscription in the investee company in question by 20% an entitlement to a performance fee of 25% of further funds so returned will accrue to Jenson; and b) accrued performance fees will become payable once, and to the extent, the investor has received 120% of their ‘Net Subscription’ (Subscription less facilitation fees) to the fund. ** Higher fee applies for exits before 4th anniversary Jenson EIS Fund 2019/20 Seneca EIS Portfolio Service MANAGER NAME Jenson Funding Partners LLP Seneca Partners Ltd YEAR FOUNDED 2012 2010 AUM (IN TOTAL) / AUM (EIS) £14m / £3.2m £151.2m / £80.8m DESCRIPTION OF OFFER The EIS Fund has a mandate to focus on long-term capital growth, is a generalist fund, the sector focus is agnostic and the type opportunities can be anything that is EIS compliant. With access to an existing SEIS portfolio of companies and external applicants Jenson are able to identify the most promising companies for follow on funding An Evergreen Discretionary Growth Capital Investment Service that looks to build each investor their own portfolio of 4-6 EIS qualifying investments in a portfolio of unquoted and AIM quoted companies. Seneca has deployed c. £50 million of investor subscriptions across c. 40 companies during the last 5 years LAUNCH DATE July 2019 01/12/2012 UNDERLYING ASSETS Investment in a range of companies from a diverse portfolio of existing and new investee companies, in a wide range of sectors and industries Unquoted and AIM quoted shares TARGET NO. OF HOLDINGS Up to 5 per tranche 4 to 6 TARGET ANNUAL RETURN 185p for every 100p invested gross of tax reliefs within four to seven years 1.6x to 1.8x over 5-6 years (exlcuding tax reliefs) TARGET FUNDRAISE £5m Evergreen INVESTMENT OBJECTIVE A diverse portfolio of investments in a wide range of sectors and industries, which qualify for EIS Relief. Capital deployment through deal flow introduced by Jenson To generate tax free income and capital growth over the longer term INVESTMENT HORIZON 4-7 years 4 to 6 years MINIMUM INVESTMENT £10,000 £25,000 (initial), £5,000 (subsequent) INITAL FEE No initial fee to investors 2.5% + VAT AMC No annual management charge 2% + VAT OTHER FEES • Exit Performance Fee: On a deal-by-deal basis where funds are distributed back to investors following a realisation. * • Initial fee: up to 8% of the amount invested. • Annual administration fee: £350 per calendar month plus VAT Performance fee 20% + VAT**, custodian's admin fee of £55 p.a. Vala EIS Vala Capital 2018 £4.7m / £3m A discretionary portfolio service that provides investors with a diversified portfolio of 6-10 companies hand-picked by Vala. Companies are typically already trading and often revenue-generating. Simple fee structure with no initial or annual fees charged to investors. A 20% performance fee on profitable exits aligns Vala with investors December 2018 Investee companies across diverse sectors, typically; fintech, engineering, media & entertainment, technology, food & beverage, lifestyle Diversified portfolio of 6-10 investee companies Target return of £2.00 per £1.00 invested (excluding EIS Relief) over investment lifetime Evergreen fund but with target quarterly closings of £1.2m+ Growth 3-5 years £25,000 0% to investors; 6% initial fee charged to investee companies None No annual or hidden fees to investors, no annual or hidden fees to investee companies. 20% performance fee on profitable exits PROVIDERS IN FOCUS 68 Comparison table Contact details www.senecapartners.co.uk clientteam@senecapartners.co.uk 01942 271746 www.jensonfundingpartners.com invest@jensonfunding.com 020 7788 7539 www.valacap.com james@valacap.com 0203 951 0590 / 07872 009069