RISK WARNING
All VCT, EIS, SEIS, and Business Relief qualifying investments are high risk and are not suitable for most clients. They are illiquid investments and Investors’ capital is at risk.

Jenson SEIS Fund

Investment Objective

The SEIS Fund aims to target exciting new innovative and disruptive technologies on a sector agnostic basis to be nurtured alongside existing investment opportunities that require follow on investment, via the EIS, to fully exploit commercialization of a proven business model. The fund has a mandate to focus on long-term capital growth and enables private investors to invest in a range of committed and ambitious entrepreneurs and their early stage growing companies.

All companies will be small unquoted UK companies which have been trading for less than two years that qualify under the SEIS tax rules. The fund is a generalist fund, thereby the sector focus is agnostic and the type of businesses and opportunities can be anything that is SEIS compliant (typically small early stage companies in non-capital intensive sectors). The specific focus of the fund is to target companies with: strong management, momentum in the business (i.e. not pure start-ups) and low risk for a start-up (e.g. have a low cash burn).

Exit Strategy

Jenson will look to employ a variety of appropriate exit strategies on behalf of the Fund including trade sales to other companies in the same sector or industry as the investee company, listing on a stock exchange or by selling its share of the investee company to a larger private equity firm.

Jenson takes a long-term view on the Fund’s investments and aims to only look at the possibility of exiting an investment after it has been held for at least three years, thereby ensuring that the investment has met one of the key qualifying conditions necessary for investors to obtain the tax reliefs. However, there may be occasions where an earlier sale is a commercially sensible decision.

Exit history

CompanyDate of exitShare purchase priceShare exit pricesROI
(excluding reliefs)
Twizoo29/09/2017£0.61£1.80£712,661.69
Acuity Ltd25/03/2019£0.30£0.38£187,500
Way2Pay Ltd25/03/2019£52.65£27.30£111,842.14
Market Making Ltd07/06/2019£0.60£1.77 1st plus 2nd deferred consideration 0.554 plus 3rd deferred consideration £0.23£619,191.74 plus Next15 £551.47
Raishma Ready to Wear Ltd20/11/2019£0.30£0.13£63,000
Futurium Ltd16/08/2019£0.15£0.50£250,000

Fund Provider

Jenson Funding Partners LLP (Jenson) was founded in 2012 by Paul Jenkinson and Sarah Barber from Jenson Solutions Ltd (a network of Finance Directors who continue to provide support to the investee companies). Since 2012, Jenson has launched five SEIS and four EIS Funds. They are now on their 10th tranche and has invested £16 million in 100 entrepreneurial UK businesses which have typically launched their product or service and are typically close to or post revenue. In addition, they have supported 20 follow on funding rounds, all at premium to initial launch cost. Jenson has recently become FCA authorised. Jenson now has 15 partners throughout the UK and provides services to help companies start-up, raise funding, grow organically and by acquisition; restructure if required; and ultimately prepare for exit.

Fees

FeeInvestorInvestee Company
Initial feen/a8%
Annual feen/a£350 per calendar month plus VAT
Performance feeIf the aggregate return to an investor (including dividends and other distributions) from an investee company is MORE THAN 120p per 100p invested (ignoring tax reliefs), Jenson will accrue a performance fee of 35% of all returns from that investee company above that threshold – this fee will become payable if, and to the extent, that the investor’s overall distributions from the Fund are in excess of 120% of the investors’ Net Subscription.n/a
Other fee informationn/an/a

VAT charged as applicable

Kuber Special Arrangements

1% rebate

For further information please do not hesitate to contact us on:
+44 (0) 20 7952 6685
info@kuberventures.com
www.kuberventures.co.uk

Fund at a glance

Scheme Categorisation

Discretionary Investment Management Service (Discretionary Portfolio)

Target Return

£1.85 for every £1 invested within 5 to 7 years

Scheme Strategy

Venture Capital SEIS

Investment Sector

Generalist

Target Diversification

8 to 12 companies

Nominee & Custody Arrangements

Custodian: Thompson Taraz Managers Limited

Nominee: TT Nominees Limited