The investment objective of the Fund is to offer Investors access to selected investment opportunities across a number of sectors in the UK’s economy. The Fund is organised as a series of Channels, each of which will be dedicated to investing in a particular business sector or in opportunities identified by a particular originator.
The Fund strategy seeks to invest in innovative, scalable business propositions where the investee company must have:
commercially viable intellectual property as well as the capability to upscale its business over a three to five-year period
an experienced management team with a deep understanding of the relevant market and the attributes required to generate growth and development
developed a robust supply chain plan and are actively seeking capital for commercial development and expansion as opposed to just additional R&D, thus demonstrating potential for business viability
be UK-centric with the potential to expand into overseas markets and ideally have intellectual property in place helping provide barriers to entry
Channels in which the Manager intends to invest the Fund include:
Mobile and Interactive Games
Business Relief (non-EIS)
Services & infrastructure
As the Fund is generalist, the Manager will augment its particular own sector experience in pharma, medical devices, consumer brands and financial services through collaborations with deal originators with domain experience in other sectors and will also invest in such other sectors at its discretion.
Summary description of the current Channels
Investment opportunities will be considered which meet the following attributes:
New consumer and leisure sector brands which will have the opportunity to scale significantly
Very early stage consumer brand businesses
The Media Channel will consider opportunities from specialists including Iron Box Capital and New Sparta Productions.
Mobile and Interactive Games
In collaboration with sector specialists including the PlayFund originating platform, led by Harvey Elliott, this is designed to seek investments in the rapidly growing mobile and video games market.
The Nextlaw Ventures Channel will focus on early stage investing in legal tech companies in association with Dentons, a global law firm.
Business Relief (non-EIS)
Opportunities will be considered by the Manager including those via introduction by other commercial advisers.
Bridging and Mezzanine fund investment – Business Relief
Property - Investor Relief/Business Relief
Investments may be considered in qualifying property development projects, made through a series of companies which seek to provide a quantifiable return against secured assets.
Services & Infrastructure
For opportunities from specialists in areas including Cybersecurity, Ad Tech, Med Tech & Fin Tech.
In addition to their own deal and origination pipelines, the Manager will be able to review and if able to complete due diligence activities invest in opportunities presented to them through introductions brought about by certain specialist advisors, who will often then offer mentoring and support services to the investee companies.
The Fund will take a long-term view on the Portfolio Companies and will aim to only look at the possibility of facilitating an exit from an Investment after it has been held for at least the Three Year Period, for each type of tax advantaged investment thereby ensuring, wherever possible, that the Investment has met one of the key qualifying conditions necessary for Investors to obtain the relevant tax reliefs. However, there may be occasions where an earlier sale is a commercially sensible decision. 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 from the date of the last investment made by the Fund, 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
Amersham Investment Management Limited
Amersham is an FCA-authorised & regulated investment management firm specialising in start-up funding and early stage venture capital. Having since 09-2013 raised over £36m for SEIS, EIS & BR investments, following disposals (July 2018 and September 2019). Amersham currently (November 2019) have £20.6m under management. Typically, they structure their offerings so that eligible investors are provided opportunities to invest in companies with which they have, where appropriate through adviser partnerships, deep sector expertise available to originate deals, agree investment terms, specify conditions and contracts, conduct due diligence through to investment and post-investment monitoring services, exit assessment and transaction negotiation. Themselves entrepreneurs of record, Amersham’s directors have a keen understanding through first-hand experience of the requirements and challenges that face early-stage and growth stage businesses.
Fees charged to Investor (including VAT)
Fees charged to Investee Companies (including VAT)
Annual Management Fee
2% or £3,600 whichever is the greater
Other Fee Information
dealing fee to 3% of total investment receipts per exit
3.6% - Due Diligence
*Initial and Annual Fees are charged to Investee Companies wherever possible, however, where this is not possible, the Manager reserves the right to recover Initial & Annual Fees from Investors from their initial subscriptions, thereby reducing the amount invested.
Kuber Special Arrangements
Kuber receives a fundraising fee of 1% from the Manager. Kuber will return this fee to Investors by applying it to their Subscription amount thereby increasing their Investment
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