Amersham Corporate Development Capital EIS

Featuring:

Investment Objective

In addition to Amersham’s general offering, the Fund will comprise a series of Channels, each of which will be dedicated to investment via a series of Interim Closes in a particular business sector or category. A Channel may involve investments in several companies or a single company in the relevant sector. A Channel may invest in a single portfolio company and will be focused on a specific business sector.

The Manager, together with partner Originators, will seek to identify potential Investee Companies which it believes will exhibit the following key criteria:

  • A defined business model and proof of concept.
  • Revenue and/or a qualified sales pipeline and supply chain.
  • Cash flow positive or a clear route to same.
  • Product or service with clear competitive positioning and market demand.
  • Have due regard for commercial protection in the form of registered IP or an established brand.

While further Channels are expected to be added over time, Channels the Manager intends to "follow" through the Fund will include the following:

Lightning Ventures Business Channel

Lightning Ventures LLP, which will act as Originator for this Channel, has been established for the purpose of investing in UK engineering businesses.

Interactive Mobile and Video Games Channel

In collaboration with the PlayFund originating platform, Amersham PlayFund has been designed to offer investment opportunities to take advantage of the rapidly growing mobile and video games market.

Consumer Brand Channel

In partnership with Odexia Consulting Ltd, investments in the Channel will be considered in Companies which may conform to one of the following categories: emerging consumer and leisure sector brands which have the opportunity to scale significantly, early stage businesses and high growth businesses.

Technology Channel

The Technology Channel will consider Amersham’s opportunities in areas including Cybersecurity, Ad Tech, Med Tech, Fin Tech, Machine Learning & AI.

Media Channel (Film and TV)

Investments in the Media (Film and TV) Channel will be opportunities originated by advisers including Iron Box Capital Ltd (chaired by Colin Brown) and New Sparta Films.

Property Development (Investor Relief/Business Property Relief) Channel

Investments to be considered by Amersham in qualified property development projects, made through a series of SPV companies which seek to provide a quantifiable return against secured assets.

Seed Mentors EIS Channel

Opportunities will be considered from Seed Mentor’s portfolio of growth business opportunities, in particular the Boxing Advantage Company Ltd and a tranche of EIS portfolio companies collectively presented as “Take 5”.

Exit Strategy

It is anticipated that most exits from qualifying investments in Portfolio Companies will take place after they have been held for a minimum period of four years, though an exit will be principally determined by market conditions and the operating performance of the Portfolio Companies. However, it should be noted that Portfolio Companies may be held for longer periods.

The Fund anticipates that the options for investors to exit a Portfolio Company may include the following:

  • A sale to a third party, at arms-length, of a Portfolio Company
  • The purchase by a Portfolio Company of shares held by non-Fund shareholders, subject to taxation rules
  • The introduction of new investors (not EIS investors, who must buy new shares) to a Portfolio Company
  • The reduction of a Portfolio Company’s share capital

The voluntary liquidation of a Portfolio Company or the sale of a Portfolio Company’s assets and subsequent distribution of proceeds to shareholders.

Fund Manager/Provider

Amersham Investment Management Limited

A UK investment firm focused on the provision and management of funds for both early and growth stage company investments using SEIS and EIS, Amersham is a leading specialist investment firm for start-up funding and junior venture capital, having invested over £6M in more than 40 SEIS qualifying companies, alongside over £23m in EIS qualifying companies and over £2m in BPR/IHT assets (August 2017).

Amersham Investment Management Ltd (“AMIM”) was founded in 2009 by Paul Barnes and Michael Waller-Bridge for the purpose of developing specialised investment management services. Themselves entrepreneurs of record, Amersham’s directors have a keen understanding from first-hand experience of the requirements and challenges that face early-stage and growth stage businesses.

http://amershaminvestment.co.uk/#home

Fees

Wherever possible, the Manager will levy fees and charges against the companies in which investments are made. This method is used so Investors in the Fund should therefore be able to obtain the maximum amount of tax relief available on the amount of their subscriptions.

The following comprises the costs and fees that are typically to be incurred by a portfolio company over the likely lifetime of the Fund. Where costs are incurred on the entire portfolio of investee companies (or, where applicable, the entire portfolio in which investments have been made through a Channel) they will be charged pro-rata across that portfolio:

Service Fees
  • Investment Fees – 2-4% charged to investee companies of total subscriptions (one off)
Annual Fees
  • Fund Management Fees – 2% charged to investee companies of total subscription per annum
  • Nominee & Custodian Fees – 0.5% charged to investee companies per investor per annum
  • Performance fees – 20% of net value receipts charged to investors above a hurdle rate of 6.66% per annum (e.g. equivalent to £1.33 at the end of year 5 on a £1.00 investment.) At the Manager’s discretion a Portfolio Company may also be required to award options to the Manager, at the investment strike price.
Termination and Other Fees
  • Fund exit costs – 0.65% charged to investee companies of the total investment receipts per exit
  • Due diligence fees costs and other expenses – 3-5% charged one off to investee companies of total subscriptions

The fees and charges described above are exclusive of VAT, which will be charged as applicable.

Kuber Special Arrangements

Kuber receives a fundraising fee of 1.0% from the manager. Kuber will return this fee to Investors by applying it to their Subscription amount thereby increasing their investment.

For further information please do not hesitate to

contact us on:

+44 (0) 20 7952 6685
info@kuber.uk.com
www.kuberventures.co.uk

Fund at a glance

Scheme Categorisation

The Scheme is structured as an Alternative Investment Fund and the Fund Prospectus can be found at Amim

Target Return

£1.40 for each £1 invested

Scheme Strategy

Private Equity

Investment Sector

Generalist

Target Diversification

N/A

Nominee & Custody Arrangements

The nominee is Woodside Nominees Limited, the Custodian is Woodside.