EIS 2018 report (web)

78 79 EIS SOLUTIONS COMPARISON JENSON FUNDING PARTNERS SENECA SYMVAN OFFER/SERVICE NAME Jenson SEIS and EIS Fund Seneca EIS Portfolio Service Symvan Technology EIS Fund MANAGER NAME Thompson Taraz (Jenson Funding Partners is the strategic advisor) Seneca Partners Ltd Symvan Capital YEAR FOUNDED 2012 2010 2013 AUM (IN TOTAL) £13m £650m £10m AUM (IN EIS) £1m £76m £8m DESCRIPTION OF OFFER The Fund aims to target both new companies which are developing innovative and disruptive technologies and to provide follow on funding to our existing portfolio companies, helping them to fully exploit and commercialise their proven business models The EIS Investor’s subscription to the fund will be used to target 5 companies An Evergreen Discretionary Growth Capital Investment Service that looks to build each investor their own portfolio of 4 to 6 EIS qualifying investments in a portfolio of unquoted and AIM quoted companies. The Service targets a return of £1.60-£1.80p per £1 invested excluding any tax reliefs within a 5 year period. Seneca have deployed c. £50m of investor subscriptions across c. 40 companies during the last 5 years. A discretionary portfolio service and investing into suitable target EIS qualifying businesses which have established plans and management teams, demonstrated growth potential with strong commercial opportunities and planning to exit in approximately 5 years. The Fund is focussed on ‘post-seed’ financing, where companies may already have raised under SEIS - and having achieved milestone developments since then, will typically be seeking new equity funding for £0.25m to over £2m. UNDERLYING ASSETS Investments in unquoted companies across multiple sectors Unquoted and AIM quoted shares Ordinary shares of unquoted companies operating in the technology sector TARGET NO. OF HOLDINGS EIS 5 4 to 6 8-10 LAUNCH DATE April 2017 01.12.12 02.12.16 TARGET FUNDRAISE £5m n/a Up to £10m INVESTMENTOBJECTIVE The EIS fund looks to continue to support the best of the SEIS portfolio with external opportunities that fit in the recognised equity gap. The agnostic fund targets businesses we believe can scale quickly with strong exit potential. We apply the same detailed investment process to EIS opportunities as we do SEIS. In addition, when investing in our existing SEIS companies with follow on funding, we do benchmark these investments against external opportunities. Growth Capital Target return of £2.85 for every £1 invested over a period of 5 or more years TARGET ANNUAL RETURN (WHERE STATED) 185p per 100p invested over a 5 to 7 year period £1.60-£1.80 per £1 invested within 4-5 years 23% (Excluding impact of any tax relief) INVESTMENT HORIZON (WHERE STATED) 5 to 7 years 5 years 5 years MIN INVESTMENT £10,000 £25,000 £20,000 (At discretion of Manager) INITIAL FEE 0% 2.5% + VAT 0% AMC 0% 2% plus VAT deferred until clients have received back at least their original sum invested 0% OTHER FEES Performance fees payable once investors receive £1 per £1 invested on an investment by investment basis. Performance Fee in each investee company is 25% of distributions to Investors in excess of £1 per £1 invested. Performance Fee 20% once investors have received back their original sum invested and after the application of any AMC’s. 20% performance fee on realisations above 100% hurdle PROVIDER DIRECTORY BLACKFINCH INVESTMENTS www.blackfinch.com 01684 571255 enquiries@blackfinch.com DEEPBRIDGE www.deepbridgecapital.com 01244 746000 enquiries@deepbridgecapital.com DOWNING www.downing.co.uk 0207 6303319 enquiries@blackfinch.com INGENIOUS CAPITAL www.theingeniousgroup.co.uk 020 7319 4291 hello@theingeniousgroup.co.uk JENSON FUNDING PARTNERS www.jensonfundingpartners.com 02077 887539 seis@jensonsolutions.com SENECA PARTNERS www.senecapartners.co.uk 01942 295985 clientteam@senecapartners.co.uk SYMVAN CAPITAL www.symvancapital.com 02030 115096 info@symvancapital.com EIS SOLUTIONS COMPARISON AND PROVIDER DIRECTORY