Here are 17 of the most active funds investing under the Enterprise Investment Scheme (EIS) in the past year.
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With 18 deals recorded last year*, Ascension invests from seed to series A. The fund’s portfolio is most concentrated in e-commerce and online video and content but has also invested in adtech, edtech, fintech, applied AI and social impact.
Every year, Ascension aims to invest in up to 12 seed deals through its SEIS (Seed Enterprise Investment Scheme) Fund and 8 seed+ deals through its EIS Fund.
This fund has investment expertise in ICT/electronics, cleantech, materials & chemistry, and healthcare & life sciences. The fund looks to partner sector experts with each of its investee companies for support and connections.
EMVC Evergreen EIS Fund
This fund invests in companies raising from Seed or Series A-B. Prospective investees must have proprietary innovation in hardware or hardware-enabling software. The fund’s sector focuses include robotics, artificial intelligence, machine vision, electronics, IoT and materials science.
Force Over Mass
Based in London and with over 111 companies in their portfolio, the fund has invested most heavily in EIS compatible firms in marketplaces and e-commerce, fintech, SaaS, AI, big data and analytics.
Foresight Williams Technology EIS Fund
Part of the prolific Foresight Group, the technology fund is partnered with Williams Engineering (part of Williams F1 Group).
The fund invests between £0.25m-2m in UK early-stage technology companies. Amongst their investment criteria, the fund looks for companies with market opportunities greater than £75 million, the potential to deliver 10x multiples at exit, and operate in a sector/technology where Williams can deliver added value. The fund did 8 deals in 2019*.
A leading UK EIS investment fund, Fuel invests in globally scalable marketplaces, platforms and software businesses. The fund invests between £500k and £2m, with the ability to follow up to pre-Series A.
Fuel did 7 deals last year and looks to continue similar numbers on enterprise investment scheme deals in 2020.
A specialist investor in the UK leisure and hospitality market, Imbiba invests between £1-10m in leisure and hospitality businesses looking to scale over a 5 year period.
Investing between £1m-2.5m per company, with a strong preference for investing in profitable businesses, but also younger businesses under the enterprise investment scheme and turnarounds with a clear route to profitability.
Jenson Funding Partners
Jenson made 10 investments over the 2019 tax year. Making both SEIS and EIS investments, Jenson has invested in 100 early stage companies over the past 7 years, with a sector-agnostic approach.
o2h Human Health EIS Knowledge Intensive Fund
First HMRC approved KI fund in the UK that will invest in knowledge-intensive EIS qualifying companies focused on novel drug discovery and AI technologies. This fund is focused on early stage biotech therapeutic and related AI opportunities in the UK. The fund also provides incubation support to its portfolio companies.
Mercia Fund Managers
With 30 deals recorded in 2019 across all regions of the UK*, Mercia makes EIS investments on a broad scale from 100k to 10m tickets. It has invested in over 200 businesses across the UK.
Parkwalk Opportunities EIS Fund
The fund invests primarily in companies developing new technologies, particularly in the cleantech or life sciences sectors, and can make initial investments of up to £5m with follow-on potential. The fund made 13 investments over 2019*.
Based in Manchester, the fund makes EIS investments between 1m-3m, predominantly in businesses in the North-West of the UK. The fund has no specific sector focus, and has to date invested in creative, digital and tech, financial, professional and business services, energy and the environment, health and life sciences.
Investing between £50k – 250k per EIS investment, the fund looks for businesses with a sustainability impact, and has made investments in circular economy, future energy, clean air, agriculture and building tech businesses.
Unicorn Ascension Fund
A partnership between Ascension Ventures (1. above) and Unicorn India Ventures, UAF backs UK based technology businesses to help scale them into India. The fund aims to invest in 5-7 businesses a year, deploying tickets of £500k-750k.
West Hill Capital
WIth both a VC and corporate finance arm, West Hill invests between £1-10m in EIS compatible firms. It has no specified sector preference.
Executing on average 1 deal per month*, Worth Capital is a sector-agnostic fund. Based in London, the fund is behind the Start-Up Series Fund, a monthly competition where start-ups can apply for investment funding, the winner receiving up to £250,000 in funding.
Did you know?
8 out of 10 UK angel investments are made under SEIS/EIS. In order to qualify for investment under EIS, companies need to meet the eligibility criteria. You can find out if you qualify to raise under the Enterprise Investment Scheme, and apply for SEIS/EIS Advance Assurance from HMRC on SeedLegals.
Sign up now to apply for SEIS/EIS on SeedLegals.
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* Starred statistics kindly provided by Beauhurst.