Kuber Ventures announced on Thursday that two new Enterprise Investment Scheme (EIS) funds have signed up to its investment platform. According to the portal, the new funds, the Guinness EIS and Seneca Managed Storage EIS, now offer investors asset-backed EIS investment strategy.
Guinness EIS notably focuses on investment into asset-backed companies. The asset-backing is through property and land, high-value stock, equipment, and long-term contracts. The Guinness Assets Management has exited three EIS invested companies in early 2016. Meanwhile, the Seneca Managed Storage EIS is a specialist vehicle for investments in the managed storage sector.
Kuber reports that the addition of the funds has enabled it to build two distinct asset back portfolios, one using media based investments and one non-media, with four investment managers in each portfolio. It also revealed that the addition of Guinness EIS and Seneca Managed Storage EIS funds is set to increase the opportunity on its platform and also brings the total number of tax efficient funds available on the website to nearly 30, which consists of 15 EIS, 7 SEIS, 2 Hybrid, and 5 BPR.
Dermot Campbell, CEO at Kuber Ventures, shared:
“The addition of these new EIS funds demonstrates the growth momentum of the Kuber Ventures platform. Both Guinness and Seneca have experienced, established, teams with strong track records of aligning their interests with investors. At a time when diversification is becoming non-optional for EIS investors, we are very pleased to be increasing the investment opportunities available to investors.”
Shane Gallwey, head of the Guinness EIS team commented:
“We are very pleased to build on our ongoing partnership with the Kuber Ventures platform. Having made over 50 EIS investments since 2011, we look forward to continuing our success in collaboration with Kuber. We have a strong pipeline of companies into which we intend to make investments in the current tax year, and we are pleased to offer the opportunity to invest in these to Kuber clients”.
Peter Steele, head of sales operations at Seneca Partners added:
“We have identified a highly attractive investment opportunity in the managed storage sector, working alongside the management team at SureStore who we know well. We believe that the underlying fundamentals of the managed storage sector combined with the inherent asset backing of the storage sites has significant appeal. We are looking forward to expanding our investor base via our partnership with Kuber Ventures”.