Fund in Focus - Jenson Funding Partners

Background

Established in 2012, Jenson Funding Partners has invested over £14 million* in just under 100 investee companies*. In addition to the continued investments made by the SEIS; the EIS introduced in 2015, along with the all-important syndicated investors, supports the growth within the investee portfolio by providing follow on funding to maintain their growth. To date, Jenson has provided over £5 million* of EIS and syndicated equity investment, along with over £5 million* of debt facilities.

Where applicable and as part of our investment management process, Jenson bring in external investors alongside our EIS. The benefits of syndication are:

  • Substantiation of any revaluation of a SEIS investee company by a third party.
  • Terms arranged/influenced by largest investor.
  • Syndication introduces a further level of management around potential conflicts with the original SEIS investment.
  • Additional external skills brought in to help with the investee companies growth, giving a greater chance of success.

Where there is no requirement for follow on funding, Jenson utilise the International Private Equity and Venture Capital Valuation (IPEV) Guidelines to value investee companies.

Follow on Funding – why Jensons’ EIS?

The Jenson EIS fills the recognised funding gap between early stage SEIS and late stage EIS/VCT/VC investing. It enables Jenson to fund early; with limited competition and low valuations. Later stage investing can, whilst in more established companies, be more expensive with less choice.

Fund Performance* for Jenson SEIS and EIS funds

6 years on and Jenson can now demonstrate both an exit from an investee company in Fund 1 and positive re-valuations in funds 2,3 and 4. These valuations are independently secured and made when external investors invest in Jenson SEIS companies.

Important Information – *Performance is based on the combination of realised and unrealised value. Investments are illiquid until any of the underlying Investee Companies are sold or float on a stock market. Fund 1 has now achieved, as reported in the last ‘Fund in Focus’ a distribution of cash, with additional consideration on achieving the ‘earn out’ targets over the next two years. This distribution was achieved with the sales of the investee company ‘Twizoo’ to SkyScanner in September 2017. 1 = Original NAV: anything over 1 is potential positive returns.

*Source: Jenson Funding Partners May 2018

If you are interested in further information about Jenson Funding Partners EIS Fund or SEIS Fund, please contact us on info@kuberventures.com or +44 (0) 20 7952 6685.