SyndicateRoom, once an investment crowdfunding platform and now an early-stage fund offering, has distributed a note on its Access EIS fund and its activity during 2023.
SyndicateRoom’s fund has been labeled as one of the most active early-stage funds in the UK. The fund is available for smaller investors. The fund aims to replicate the performance of the top angel investors in the UK.
According to SyndicateRoom, £59,163,000 was invested during 2023. The average funding was £1,643,416.67.
The company states:
“… we’ve completed investment on nearly 40 companies who raised over £60,000,000 combined, with an average funding round size of over £1.5 million. This is the highest average funding round we’ve seen since launching the fund in 2020.”
Of note, 43% of the firms backed were female-founded.
SyndicateRoom invested alongside 25 “super angels.”
The company says that while 2023 was a difficult year and 2024 may be more of the same, inflation is expected to decline along with interest rates. They report that two of their fund cohorts – 2020 and 2021 have shown respectable increases of 43% and 41%, respectively.
An EIS or Enterprise Investment Scheme fund enables investors to take advantage of significant tax benefits in the UK for firms approved under the program. This can include no capital gains tax on a good exit.
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