EIS Industry Report 2018/19

77 76 EIS SOLUTIONS COMPARISON MERCIA SENECA TRIPLE POINT MANAGER NAME Mercia Fund Managers Seneca Partners Ltd Triple Point OFFER NAME Mercia EIS Fund Seneca EIS Portfolio Service Triple Point Impact EIS OFFER DESCRIPTION The Mercia EIS Fund is a well-diversified early- stage technology fund, aiming to triple invested capital in five to seven years (including tax reliefs). An evergreen fund with quarterly closes, on average we deploy within 7 months (with Advanced Assurances), with tax certificates available 6-8 weeks afterwards. Fund performance is on target, with funds over three years old having double the value of invested capital (2.4x with tax). 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. £50 million of investor subscriptions across c. 40 companies during the last 5 years. The Triple Point Impact EIS is a managed service, targeting significant capital growth by investing in fast-growing, innovative companies that have a positive impact on society and which qualify for EIS tax reliefs. AUM (TOT) / AUM (EIS) £500m / £40m £750m (all Seneca businesses) / £82m £1.2 bn / £72m YEAR FOUNDED 1982 2010 2004 UNDERLYING ASSETS Shares in high-growth technology companies Unquoted and AIM quoted shares Investments into unquoted companies across multiple sectors TARGET NO. OF HOLDINGS 15 4 to 6 8 to 12 LAUNCH DATE January 2012 12/1/2012 Feb-18 TARGET FUNDRAISE Evergreen N/A Evergreen INVESTMENT OBJECTIVE Capital growth Capital growth Capital growth, by investing in fast-growing, innovative companies that have a positive impact on society and which qualify for EIS tax reliefs TARGET ANNUAL RETURN 3x (including tax reliefs) £1.60 to £1.80 per £1 invested within 5 years £1.75-£2 per £1 invested over 4-7 years INVESTMENT HORIZON (WHERE STATED) 5-7 years 5 years 4 to 7 years or longer if this will enhance shareholder returns MIN INVESTMENT £25,000 £25,000 £25,000 FEES INITIAL 1% for advised investors 2.5% + VAT (advised), 5.0% + VAT (non-advised) 2.5% plus VAT AMC 1.75% 2% + VAT 1.5% plus VAT for 6 years OTHER FEES 20% performance fee over £1, 0.25% custodial fee per annum and 0.35% transaction fee 20% to 30% + VAT Performance Fee, £55p.a. + VAT Custodian Admin Fee Performance fees are payable after investors have received £1.10 for every £1 invested of 20% 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 020 7416 7780 laurence@downing.co.uk INGENIOUS www.theingeniousgroup.co.uk 020 7319 4291 hello@theingeniousgroup.co.uk MERCIA www.merciatech.co.uk 0330 223 1430 info@merciatech.co.uk SENECA www.investing.senecapartners.co.uk 01942 271746 enquiries@senecapartners.co.uk TRIPLE POINT www.triplepoint.co.uk 020 7201 8989 contact@triplepoint.co.uk