Top 20 EIS funds and investors you should know about

Which EIS investor is right for you? Growth Business guide to some of the most active EIS funds in the market

 Man's hand watering topiary shaped in upward arrow, EIS funds concept

Helping you grow: 20 investors with a wide variety of sector focuses from entertainment to healthtech

The Enterprise Investment Scheme or EIS is an HMRC-run scheme that helps younger, higher-risk businesses looking to raise funds by incentivising investors with a 30 per cent tax relief.

Established in 1994, EIS continued to be supported through Labour governments and was made more attractive during the coalition government in 2011.

It was further modified a couple of years ago to encourage investment into innovative start-ups.

You can raise up to £5m through EIS funds (or in some cases £12m)  and in the 2018/19 tax year, around 4,000 businesses raised circa. £1.8bn through the scheme. 

Investment sizes made through EIS funds rose over the same period and look likely to continue, making the scheme still the best way for early-stage businesses to secure reliable capital.    

With this in mind, we have put together a list of the top 20 EIS funds that you should know about.

We have listed EIS investor funds that cover a variety of regions, sectors, investment sizes and given examples of previous investments so you can make the right choices as to how to grow your business.

Top 20 EIS funds you should know about

 

Top 20 EIS funds - a Growth Business guide

EIS fundRegionsInvestment sizeSectorsNo. of investments each yearPrevious investmentsNo. of exits
ARIE CapitalUK£350,000 to £1mTech, data, IoT, medical devices, foodtech and software3 to 5152
Committed CapitalUK£3mTechnology. Sub-sectors include edtech, insuretech, fintech, gaming, digital advertising, electric motors, IoT, SaaS.10n/a22
Draper EspritUK and Europe£5m-50mConsumer technology; enterprise technology & SaaS; hardware & deep tech and healthcare c.12c.5010
Endeavour VenturesUK£500,000 to £5mTechnology, fintech, proptech, paytech, software.6 to 8n/a8
EarthwormUK£10,000 minimumFood, energy and waste5 to 12n/a2
Force Over Mass UK£100,000 to £150,000B2B technology, fintech, AI, Industry 4.0.15 to 201201
Great Point MediaUK£100,000 to £1mCreative Industries5 to 880
Haatch Ventures LLP UK£150,000 to £500,000 Early-stage companies which enable digital transformation5 to 10n/a1
Jenson Funding PartnersUK£1.5mAny5 to 10190
MMC VenturesUK and EuropePre-seed from £100,000 to Series A from £5mTechnology, B2B and B2C15n/a16
Newable VenturesLondon and South East£500,000 - £1.5mAny5 to 7n/a2
Nexus Investment Management LtdUK particularly London and South East.£200,000 to £1mData, digital, education and health technology.c.6293
o2h VenturesUKMinimum investment £25,000Seed-stage companies covering novel drug discovery along with enabling services, tools and AI technologies13 (in its first year)130
Praetura VenturesNorth of England£1.3m averageCreative, digital and tech; financial, professional and business services; energy and the environment, health and life sciences20n/a4
RLC VenturesUK£50,000 - £300,000Enterprise, fintech and entertainment.8 to 10n/a1
Sapphire Capital PartnersUK£50,000 to £1mAnyc.25>1003
SuperSeedUK£100,000 to £500,000B2B, SaaS and AI.8 to 12 80
The Side By Side Partnership LtdUK£200,000- £1mTechnology-enabled businesses3 to 52511
Triple Point VenturesUK, Europe£200,000 to £600,000Healthcare, inequality, education/young people, environment.10120
Worth Capital UKUp to £250,000 per investeeAny12 to 24 260
Source: Growth Business

ARIE Capital

Bio: ARIE Capital Technology EIS Fund 3 is taking advantage of the current EIS legislation to invest in a wide range of companies via ARIE Capital’s unique access to technology opportunities while qualifying UK-based companies can use the EIS regulations to help attract investment.

ARIE Capital’s new EIS fund will benefit both investors and companies by providing a tax-efficient investment structure that will help all parties to thrive.

Regions covered: UK

Investment size: £350,000 to £1m

Sectors covered: Tech, data, IoT, medical devices, foodtech and software.

Number of investments a year: 3 to 5

Previous investments: 15,  including Integra Holdings, Satixfy, Eysight, Engage and Net4.

Number of successful exits: 2 (ARIE fund)

Website: www.ariecapitaleis.com

Contact: info@ariecapital.com

Committed Capital

Bio: Committed Capital is an investment management and corporate advisory business founded in 2001. It focuses on maximizing growth in companies with the injection of human capital to assist leading entrepreneurs to develop their business to its full potential. The Committed Capital EIS Growth Fund is a managed portfolio service for individuals seeking a portfolio of tax-efficient investments.

The fund invests in UK-based smaller companies, one of the most dynamic and potentially highest returning sectors of the market, and a core area of expertise at Committed Capital. Committed Capital aims to deliver strong returns irrespective of any tax benefits through the EIS structure. Since 2001 the team have achieved an average 2.4x ROI with an average holding period of 4.5 years.

Regions covered: UK

Investment size: Typically £3m per company

Sectors covered: Technology. Sub-sectors include edtech, insuretech, fintech, gaming, digital advertising, electric motors, IoT, SaaS.

Number of investments a year: 10

Previous investments: Data Cloud, Knowledgemotion, Konsileo, Kortext, Lightwave, Living Map, Ceed, Saietta, Seenitk, Smartology, Stormagic, Fairstone and TradeRiver.

Number of successful exits: 22

Website: www.committedcapital.co.uk

Contact: info@committedcapital.co.uk

Number: 02075291350

Draper Esprit

Bio: Draper Esprit EIS follows a co-investment strategy, investing with the balance sheet funds of Draper Esprit Plc (one of Europe’s leading venture capital firms), Draper Esprit VCT and other funds and managers. Its focus is on late stage, growth investments in companies with established revenues, high growth, and attractive upside.

Regions covered: UK and Europe

Investment size: £5m-50m target deal size, with Draper Esprit EIS as part of this.

Sectors covered:  Consumer technology; enterprise technology & SaaS; hardware & deep tech and healthcare.

Number of investments a year:  c.12

Previous investments: c.50 including ‘unicorn’ Graphcore.

Number of successful exits: 10 exits, seven of which successful, including Grapeshot (sold to Oracle), Tails.com (sold to Nestle).

Website: www.draperesprit.com

Number: 020 7931 8800

Endeavour Ventures

Bio: Endeavour Ventures was founded in 2005 and focuses on scalable technologies and enterprise software, also some Greentech.

Regions covered: UK EIS qualifying companies

Investment size: £500k to £5m

Sectors covered: Technology, fintech, proptech, paytech, software.

Number of investments a year: 6 to 8

Examples of previous investments: Blue Prism Plc, Ebury Partners, Prot-x, Boku plc.

Number of successful exits: 8

Website: www.endven.com

Contact: enquiries@endven.com

Earthworm

Bio: Earthworm is a fund manager with a conscience. It has built its investment model around only backing ventures that, first and foremost, are sustainable and have some positive environmental or social impact. Earthworm looks to change the environment for the better and does this through forward-thinking companies that have found exciting ways to do things differently. Its investee companies are carefully selected and will aim to grow revenues and create employment.

Regions covered: UK focus, but also UK entities with global operations

Investment size: £10,000 minimum

Sectors covered: Food, energy and waste.

Number of investments a year: 5 to 12

Examples of previous investments: Firglas, Naked Energy, Shepherd, Vertical Future and Weedingtech.

Number of successful exits: 2

Website: www.earthwormgroup.com

Contact: Form available on website.

Force Over Mass

Bio: The FOM EIS Funds invest in early-stage technology companies that benefit from EIS tax relief. Committed capital is deployed over a 12-month period, during which it has built a portfolio of 15-20 companies. Investors can participate from £25,000 onwards.

Force Over Mass focuses on B2B technology innovation (Fintech, Artificial Intelligence, Industry 4.0). It has delivered strong and consistent performance across its EIS Funds, its oldest EIS Fund still has a survival rate of 84 per cent.

Investors can monitor their fund and its underlying investments daily through a dedicated online portal.

Regions covered: UK

Investment size: £100,000 to £150,000

Sectors covered: B2b technology, fintech, AI, Industry 4.0.

Number of investments a year: 15 to 20

Previous investments: 120 including Autonomous Manufacturing, Drover, Flux, FindMeCure, Globe Chain and What3Words.

Number of successful exits: 1

Website: www.fomcap.com

Contact: clientservices@fomcap.com

Great Point Investments

Bio: The Great Point Group offers a unique blend of experience in entertainment and alternative investments with a sole focus on the global creative industries. It operates from its head office in Covent Garden, where the majority of its 29-strong team are based, as well as having a growing presence in Manhattan, New York. Great Point operates exclusively in the creative industries with a focus on the UK and North American markets. It offers venture capital focused-EIS qualifying investment opportunities to UK retail investors as well as larger-scale production finance/studio investment strategies to global institutional investors.

Regions covered: UK

Investment size: £100,000 to £1m

Sectors covered: Creative industries.

Number of investments a year: 5 to 8

Previous investments: 8 including Factual Fiction, Camden Productions, Seven Seas Films and Looper Insights.

Number of successful exits: No exits to date.

Website: www.greatpointmedia.com

Contact: info@greatpointmedia.com

Haatch Ventures LLP

Bio: Haatch was founded by Scott Weavers-Wright and Fred Soneya in September 2013, since then it has been investing in early-stage technology startups under the Haatch Angel brand and its EIS fund Haatch Ventures. It looks for start-ups that show highly scalable and disruptive models of growth.

With its group of hands-on value creators, who have built and sold companies, it uses their knowledge and experience to help accelerate the growth of the new companies it invests in.

Regions covered: UK

Investment size: £150,000-£500,000

Sectors covered: Early-stage companies which enable digital transformation.

Number of investments a year: 5 to 10

Examples of previous investments: Buymie, Poplar, Eleanor, Deazy, Marvel, VuePay, Codices, Veritonic, Iterate.ai, Scurri, 1 Second Everyday and Elevaate.

Number of successful exits: 1

Website: www.haatch.com

Contact: hello@haatch.com

Jenson Funding Partners

Bio: Jenson Funding Partners was founded in 2012 with the launch of its first Seed Eneterprise Investment Scheme (SEIS fund building a solid, scalable and efficient investment process, which has led to 108 investments being made into SEIS qualifying companies. Its first EIS fund launched in 2015 and has raised significant follow on funding rounds for its portfolio companies, investing over £3 million in 19 companies.

Its core offering is investment via its SEIS and EIS Funds, investing, supporting and growing innovative start-ups with disruptive technologies. Key to its investment criteria is its support programme providing key financial, technical, operational and sales and marketing support to investee companies from the outset. Its investment mandate includes the nurturing of the early-stage businesses it invests in.

Regions covered: UK

Investment size: £1.5m per investment.

Sectors covered: Agnostic

Number of investments a year: 5 to 10

Previous investments: 19 including Voneus, LiveIT, Whispering Gibbon, Dame, Tapfuse, RotoVR, Treefrog, IBC, Warwick, Fiovana, Equus, The LinkApp, EyLog, BrainBroker, Dream Reality, FrontM, Angoka, Whitehall Finance and Tailwise.

Number of successful exits: At present, the EIS Funds are still in their infancy and therefore have not had any exits. However, Jenson has successfully exited six companies across its first two SEIS Funds, including Twizoo, Way2Pay, Acuity, Market Making, Futurium and Raishma.

Website: www.jensonfundingpartners.com

Contact: invest@jensonfunding.com

MMC Ventures

Bio: MMC funds and helps scale technology companies that are transforming today’s markets. MMC commits to a deep understanding of each company’s underlying technology and business model to help make better decisions and be more effective partners.

Regions covered: UK and Europe

Investment size: Pre-seed from £100,000 to Series A from £5m

Sectors covered: Technology, B2B and B2C.

Number of investments a year: 15

Examples of previous investments: Gousto, Interactive Investor, NewVoiceMedia, Bloom & Wild, Peak, Current Health and Signal AI.

Number of successful exits: 16

Website: www.mmcventures.com

Contact: fundenquiries@mmc.vc

Newable Ventures

Bio: Newable Ventures NVL was formed as part of the acquisition of London Business Angels (LBA), which was one of the longest standing angel networks within the UK. NVL is an early-stage investment firm that invests in a range of deep tech companies that occupy the health, space and digital sectors.

In 2017 it launched the Newable EIS Scale-up fund to sit alongside its angel network. NVL is part of the wider Newable group (known as Newable) which was formed in 1979 by the 32 boroughs of London under the name of Greater London Enterprise (GLE). Over the past five years, the core structures of the business have been expanded to offer start-ups and SMEs access to finance, office and light commercial space and innovation and exporting advice.

Regions covered: London and the South East, however NVL does have a small number of companies located in Cardiff, Edinburgh and Newcastle.

Investment size: £500,000 – £1.5m

Sectors covered: Agnostic- slight fund bias towards Healthtech.

Number of investments a year: 5 to 7

Examples of previous investments: Cognism, Echion and Sustainable Marine Energy.

Number of successful exits: 2, Astrid and Miyu and City Pantry

Website: www.newable.co.uk

Contact: BuildingConfidence@newable.co.uk

Nexus Investment Management Ltd

Bio: Nexus Investments, set up in 2014, is the ventures arm of the Nexus Group, a £2.5bn AUM asset manager. Nexus Investments is focused on investing in high growth early-stage businesses in the Data, Digital, Education and Health Sectors enabling investors to take advantage of the government’s venture capital tax relief schemes, specifically SEIS and EIS.

Since 2014 Nexus Investments has co-invested c.£10m of funds into around 28 businesses run by mission-driven founders.

Since early 2019 Nexus Investments’ has provided HNW investors with the opportunity to invest through the Nexus Investments’ Scale-Up Fund, which has reached c.£2.8m AUM to date and gives investors a diversified portfolio of 8-10+ investments in EIS companies across data, digital, education and health.

Regions covered: UK particularly London and South East.

Investment size:  £200,000 to £1m

Sectors covered: Data, digital, education and health technology.

Number of investments a year: c.6

Examples of previous investments: Huma, Perfect World Ice Cream, Knowledgemotion, digi.me, Benivo, Soupologie, Vivid, Snaptrip, FreeMarket, Pobble, Scene, Smarter, Stylepilot, Purearth, HubBox, TrackMyRisks, Heartier, iPushPull, RSL, Everpress, Trueinvivo, Marco Polo, Cyance, Perkier, Medic Spot, Fundamental VR, Kafoodle, Compleat and Pi-Top.

Number of successful exits: 3 Partial Exits, Knowledgemotion, Benivo, Huma.

Website: www.scaleupfund.co.uk

Contact: info@nexusgroup.co.uk

 

o2h Ventures Ltd

Bio: The biotech sector is one of the leading sectors in the UK economy. The large pharma companies now rely on the small innovative biotech’s for new ideas in disease areas such as cancer and neurosciences amongst others which has led to higher potential exit valuations. The fund will help widen the community of investors that will help expand early-stage research in the UK.

The o2h team are leaders in the biotech community and have been actively involved as investors, holding various board/industry positions as well as being engaged in grassroots scientific activity for over 20 years.

The o2h human health EIS fund is investing in and nurturing emerging life science. Combining a model of access and incubation to deal-flow through grass roots experience, the fund is in a unique position to offer investors access to innovative and potentially transformational seed stage companies covering novel drug discovery, biotech and AI technologies.

Regions covered: UK

Investment size: Minimum investment £25,000

Sectors covered: Seed-stage companies covering novel drug discovery along with enabling services, tools and AI technologies.

Number of investments a year: 13 (in its first year)

Examples of previous investments: Stemnovate, Arecor, NeoPhore, Repositive, Privitar and PharmEnable

Number of successful exits: No exits to date.

Website: www.o2hventures.com

Contact: invest@o2h.com

Praetura Ventures

Bio: Praetura Ventures is one of the leading early-stage equity providers focused on supporting businesses in the North of England and it invests in ambitious, early-stage companies to help them achieve long-term, sustainable growth.  It has raised £22million in less than 12 months and two-thirds of the capital it has raised has been invested into businesses based in the region. This activity builds on a strong track record, as Praetura Ventures has been supporting entrepreneurs since 2011 through its more than money approach – which sees the team use its experience, network and resources to help entrepreneurs to grow and succeed.  Headquartered in Manchester, Praetura Ventures invests at least two thirds of the capital is raises into businesses based in the North of England.

Regions covered: North of England

Investment size: £1.3m average investment

Sectors covered: Creative, digital and tech; financial, professional and business services; energy and the environment, health and life sciences.

Number of investments a year: c.20

Examples of previous investments: Sorted, Peak, Inspired Energy, Patchwork, Culture Shift, Dr Fertility, FeedStock, SteamaCo, Futr, Inotec AMD Ltd and XR Games.

Number of successful exits: 4

Website: www.praeturaventures.com

Contact: ventures@praetura.co.uk

RLC Ventures

Bio: RLC Ventures is an early-stage VC fund backing companies building towards the future of enterprise, fintech and entertainment.

Regions covered: UK

Investment size: £50,000 – £300,000

Sectors covered: Enterprise, fintech and entertainment.

Number of investments a year: 8-10

Examples of previous investments: Greendeck, Organise, Scribeless, Workscope, Labworks

Number of successful exits: 1

Website: rlc.ventures

Contact: Form available on website.

Sapphire Capital Partners

Bio: Sapphire Capital Partners LLP is a multi-award winning firm based in London and Belfast that specialises in SEIS and EIS funds. Sapphire currently manages over 30 SEIS and EIS funds across a wide variety of sectors, bringing the partners’ expertise in investment management, corporate finance, accounting and taxation to the funds in the most cost-effective way possible. The partnership, founded in 2009, is authorised by the FCA (FRN: 565716) to act as an investment manager.

Sapphire’s services are delivered by a highly experienced team who provide quality services in a cost-efficient way. The individuals behind Sapphire have a considerable breadth of knowledge in the financial sector.

Regions covered: UK

Investment size: £50,000 to £1m

Sectors covered: Agnostic

Number of investments a year: c.25

Previous investments: 100+ including Regvoltuion, Harty Nutrition, Phos, Medesk and Bondford.

Number of successful exits: 3

Website: www.sapphirecapitalpartners.co.uk

Contact: info@sapphirecapitalpartners.co.uk

SuperSeed (Supersede Ventures)

Bio: SuperSeed is a fund run by seasoned and exited entrepreneurs investing in the most exciting and promising B2B SaaS and AI early-stage companies. With lack of sales being the number one cause of start-up failure, it focuses on finding companies with proven product market fit. It often sell a prospective company’s products before investing and then use 60 years of management experience to help them scale post investment.

Regions covered: UK

Investment size: £100,000 to £500,000

Sectors covered: B2B, SaaS and AI.

Number of investments a year: 8 to 12

Previous investments: 8 including Dopay, Scribeless, SuccessData and ThingTrax.

Number of successful exits: No exits to date.

Website: www.superseed.com

Contact: hello@superseed.com

The Side By Side Partnership Ltd

Bio: The SidebySide Partnership is a UK-based EIS venture capital firm that specialises in taking high-potential technology companies, already well established with strong revenue growth, and supporting them with the experience of others who have previously built strong businesses, helping them become successful commercial businesses. It combines capital investment with decades of experience building private, public and international businesses.

Regions covered: UK

Investment size: £200,000- £1m

Sectors covered: Technology-enabled businesses

Number of investments a year: 3 to 5

Please note that the below information relates to personal investments made by founder, John Bailye.

Previous investments: Dendrite, Maritime Technology, Groovy, GSS, Go Now, Prism Sola, Solar Centre, CTSO, Sky City apartments, Community First Bank, Pervasive Tech, EKR Therapeutics, Systech, InstaMed, Untethered, Sintan, Bluum, Healthsqaured, Structured Web, Fusar, Mouse House, Enclothed, Fuss Free Technologies, Caervest and Skin Analytics.

Number of successful exits: 11

Website: www.thesidebysidepartnership.com

Contact: london@thesidebysidepartnership.com

Triple Point Investment Management LLP

Bio: Looking for growth businesses that make a positive social contribution and have annualised revenues of over £100,000 already.

Regions covered: UK but anywhere as long as EIS qualifying.

Investment size: £200,000 to £600,000

Sectors covered: Healthcare, inequality, education/young people, environment.

Number of investments a year: 10

Previous investments: 12 including Flatflair, Capital on Tap, Quit Genius and VYNE.

Number of successful exits: No exits to date.

Website: www.triplepoint.vc

Contact: Form available on website.

Worth Capital

Bio: The Start-Up Series Fund hunts for product, service and sales channel innovation in underserved and/or growth markets, creating habitual consumption (B2C or B2B) and a loved brand. SEIS and EIS are made into the winners of the Start-Up Series. Previous winners’ stories and entrance details can be found here.

Regions covered: UK

Investment size: Up to £250,000 per investee

Sectors covered: Agnostic

Number of investments a year: 12 to 24

Examples of previous investments: Uniblock, Vitrue Health, Kanda, Weekly10 and Bedfolk.

Number of successful exits: No exits to date.

Website: www.worthcapital.uk

Contact: info@worthcapital.uk

Further reading

20 angel investor networks you should know about

Comments (0)