London Business Angels announce new £420k EIS RoundTable Syndicate Fund

London Business Angels
1 June 2011

London Business Angels (LBA) are delighted to announce that our new  £420,000 HMRC Approved EIS RoundTable Syndicate Fund is open for business with all cash invested now held by the Fund's Registrars.

The Fund is the culmination of LBA’s 30 years’ experience of pioneering innovation in the UK Angel investment market. This FSA regulated HMRC Approved EIS Fund, raised exclusively from LBA’s investor membership, offers LBA Investors an innovative way to acquire a portfolio of the Network’s investments, while taking advantage of the increased 30% personal tax relief offered by the Enterprise Investment Scheme, as announced in the April budget .

LBA’s First £300k LBA EIS RoundTable Fund was fully invested in January 2011, making four investments as part of LBA syndicates in leading edge technologies during the previous year, spread across a range of sectors: Eykona (medtech); Syrinix (cleantech); ipadio (mobile); The Electrospinning Company (nanotech).

This new £420k Fund, being 40% larger and thus with considerably more firepower, aims to act as a catalyst for investment through co-investing in circa 5 LBA companies over the coming year alongside LBA’s investors.

Anthony Clarke, Managing Director of LBA and Chairman of the British Business Angels Association (BBAA) welcomes the new Fund: “This latest LBA EIS RoundTable Fund offers opportunities for business propositions, selected  by our angel syndicates over the next twelve months, to significantly increase the level of investment achieved through LBA’s investors. We look forward to receiving new deals from innovating SMEs seeking to take advantage of this additional funding potential. Recent BBAA research has also shown that Angels syndicating together in Angel Networks and adopting a portfolio approach to their angel investing are more likely to increase their returns.”

LBA’s Fund investors benefit from:

  • 30% EIS Tax Relief in 2011/12
  • A FSA Regulated structure
  • A spread of investments: the Fund proposes to make at least 4 EIS qualifying investments during its 12 month lifetime period, selected exclusively from LBA's carefully screened deal flow, in a range of sectors, with no more than 30% of the fund invested in any one company.
  • Voting on investment proposals: Fund Investors have a say over which companies the fund will consider, through voting by qualified majority on the Heads of Terms under negotiation.
  • A low fee structure with no recurring annual charges.

Companies: For the opportunity to present your business to our investors and potentially leverage LBA's Fund, please click here to find out more about the service we provide before making an application to companies@lbangels.co.uk.

Investors: For more information about the service LBA provides for investors and how to get involved in the Fund's next round please click here.