Venture capital investment manager Deepbridge Capital is opening a new £1 million tranche of the Deepbridge Innovation SEIS fund to allow private investors to access early-stage UK tech companies.
Deepbridge said the fund is designed to provide capital to companies with exciting new technologies that seek to satisfy the needs of large and growing markets, while allowing investors to benefit from the generous potential tax reliefs available through the Government’s Seed Enterprise Investment Scheme.
SEIS was introduced in April 2012 by HM Revenue and Customs to help small, early-stage companies raise funds through individual investors by providing a series of tax reliefs on investments made into qualifying companies.
Investments in the Deepbridge Innovation SEIS are subject to a minimum subscription of £25,000, with funds expected to be deployed in the 2022/23 tax year.
Adrian Neilan, investment director, technology at Deepbridge Capital, said: “In response to significant demand from financial advisers and investors, we are delighted to be seeking a further £1 million of SEIS capital via the Deepbridge Innovation SEIS. The UK Government’s Seed Enterprise Investment Scheme is a world-leading initiative; providing investors with significant tax reliefs as an incentive to support seed-stage companies which are seeking to create the innovation and jobs of tomorrow.
“Hardman & Co’s recent white paper entitled ‘how much should clients invest in venture capital,’ highlighted the need for investors to include venture capital within a portfolio and how adding seed-stage investments can dramatically increase return profiles for appropriate clients. Given the growing interest in such investments, as part of a diversified portfolio, we expect that this fundraising tranche will yet again be oversubscribed.”
