The objective is to provide investors a diversified portfolio of at least 10 technology investments across a number of sectors. The rationale of the fund is to co-invest with We are Nova (www.wearenova.co.uk) in start-up and early stage technology companies.
We are Nova is a corporate cofounder of technology companies and has a 10 year track record in investing successfully in this space.
Nova provides human resources and services to each start-up in the portfolio on a flexible basis. This prevents the company locking-in fixed monthly costs, provides a flexible cashflow runway and ensures the start-up has the optimum mix of skills and resources to achieve objectives. Nova receives part of its payment for these services in cash and invests part in equity on the same terms as the Fund, hence, co-investing. This ensures the alignment of both Nova and the Fund investors in achieving a successful exit for the business.
The existing portfolio is still at an early stage, less than 2 years, and although fair value capital uplifts have been secured on further funding rounds, capital realisations are yet to take place.
Nova Growth Capital is an appointed representative of Sapphire Capital Partners LLP. Sapphire are a multi-award winning investment manager and consultancy based in both London and Belfast. They offer a diverse range of services, including: Fund investment management services and SEIS and EIS support. Sapphire Capital Partners are proud to be a Woman in Finance Charter signatory - this commits Sapphire to support gender balance across the financial services sector. Sapphire is authorised and regulated by the Financial Services Authority. Sapphire is an active member of the Enterprise Investment Scheme Association.
Nova Growth Capital is a wholly-owned subsidiary of Nova Group Holdings Limited. We invest in ideas stage and early stage start-ups, without any capital investment from the founders. Our programme will take businesses from an initial idea to discovering its market and building product/solution. The Nova team provides start-ups with all of the ‘Inside the Building’ services that required in its first year, allowing founders to focus on the problem and customers.
Fee | Investor | Investee Company |
---|---|---|
Initial fee | n/a | 5% |
Annual fee | n/a | 2% |
Performance Fee | 20% on portfolio level returns above 150% | n/a |
Other fee information | n/a | n/a |
N/A
Alternative Investment Fund
£1.72 for every £1 invested
Venture Capital EIS
Technology
10 investee companies
Custodian: Woodside Corporate Services Limited
Nominee: WCS Nominees Limited
An investor qualifies as an High Net Worth investor if they have
(a) An annual income to the value of £100,000 or more;
(b) Net assets to the value of £250,000 or more. Net assets for these purposes do not include:
(i) the property which is their primary residence or any loan secured on that residence;
(ii) any rights under a qualifying contract of insurance within the meaning of the Financial
Services and Markets Act 2000 (Regulated Activities) Order 2001; or
(iii) any benefits (in the form of pensions or otherwise) which are payable on the termination of their service or death or retirement and to which they are or (or their dependants are), or may be, entitled.
An investor qualifies as ar Self-Certified Sophisticated Investor if at least one of the following applies:
a) they are a member of a network or syndicate of business angels and have been so for at least the last six months prior to the date below
b) they have made more than one investment in an unlisted company in the two years prior to the date below
c) they are working, or have worked in the two years prior to the date below, in a professional capacity in the private equity sector, or in the provision of finance for small and medium sized enterprises
d) they are currently, or have been in the two years prior to the date, below a director of a company with an annual turnover of at least £1 million