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.

Symvan Technology SEIS Fund 3

Symvan Capital

Investment Objective

The fund invests in the ordinary shares of a number of unquoted technology companies with high growth potential that qualify (i.e., that have received Advance Assurance from HMRC) under the Seed Enterprise Investment Scheme (SEIS).

The fund focuses on businesses with:

  1. experienced and reliable management teams;
  2. a clear path to drive sales growth, even at the expense of near term profitability;
  3. a business model with high margins;
  4. relatively low capital expenditure requirements;
  5. a plausible exit strategy;
  6. the potential to generate a return of ten times the original investment.

The Fund will continue its successful strategy to invest in companies that operate across the technology sector, with a focus on B2B application software. Targeted sectors include Insurtech, HRtech, Regtech, Legaltech, Cybersecurity, Fintech, VR & AR. Many of the companies are likely to receive follow-on funding from Symvan's EIS fund when key milestones have been met following the initial SEIS investment.

Monies will be used primarily to invest in people, sales & marketing activity along with working capital to support revenue growth.

To date the Fund has deployed £1.6m in 11 companies which between them have since raised £8m follow-on funding.

Exit Strategy

The Fund will not invest in any company without a clear expectation of the likely exit strategy. The team will aim to facilitate exits after the three year period. However, there may be occasions where an earlier sale is a commercially sensible decision. It is anticipated that most exits would take place after they have been held for four years though some could take longer depending on market conditions and the nature of the Portfolio Companies. Exit options include:

  • The acquisition of the intellectual property rights of the portfolio company at a price determined by an independent valuation;
  • a sale or part sale of the company;
  • the purchase by the Investee Company of shares held by shareholders;
  • the voluntary liquidation of the Investee Company or the sale of the company’s assets and subsequent distribution of proceeds to shareholders.

Exit History

CompanyDate of exitShare purchase priceShare exit pricesROI (excluding reliefs)
Buying Butler26 Mar 19£1.95 (SEIS)
£2.80 (EIS)
£2.42
£4.33
24.4% (SEIS)
54.6% (EIS)
B.Heard16 Apr 19£1.35 (SEIS)
£2.33 (EIS)
£3.35 (EIS)
£2.44113.7% (SEIS)
3% (EIS)

Fund Manager

With AUM of £28m, Symvan is an award-winning EIS and SEIS fund manager with specialised expertise in making investments into the disruptive companies of the future. Upon winning Best SEIS Fund Manager at the Enterprise Investment Scheme Association awards in February 2017, the judges praised Symvan for “their due diligence, their selection process and speed of investment. They also liked the clarity of their communications, and the effort that they have made to demonstrate the benefits of their investment, not just in value, but in job creation and the tax revenues raised as well.”

Symvan has received recognition having won Best Manager awards from the EIS Association in 2015, 2016 and 2020, and from the Growth Investor Awards in 2016 and 2018.

Fees

FeeInvestorInvestee Companies
Initial Feen/a10%
Launch & establishmentn/a£2,000
AMCn/a£3,000
Performance Fee20% of realised profitn/a
VAT charged as applicable

Kuber Specific 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

Alternative Investment Fund

Target Return

£2.85 per £1 invested (excluding tax relief)

Scheme Strategy

Venture Capital SEIS

Investment Sector

Technology & B2B SaaS

Target Diversification

6 to 10 investee companies

Nominee & Custody Arrangements

Custodian: Woodside Corporate Services Ltd

Nominee: WCS Nominees Limited