Fuel Ventures SEIS Fund says it was recently recognized as the UK’s best SEIS Investment Manager.
Investments in the fund may qualify for 50% tax-relief potential.
Fuel Ventures SEIS Fund has raised £187,306 from 59 investors (with 32 days left in the campaign at the time of writing) through its crowdfunding initiative, which is being carried out via Crowdcube.
As noted in the update, SEIS benefits of 50% income tax-relief & tax-free capital gains, are “subject to individual circumstances.”
Fuel Ventures has reportedly invested £170m+ in over 150 different companies. A few notable exits include Capdesk to Carta for $88m & ContentCal to Adobe for $110 million.
Recently, the initiative voted the United Kingdom’s “Best SEIS Investment Manager” at the Growth Investor Awards.
As noted by its management, Fuel Ventures launched in 2021 as the first Fuel Ventures SEIS Fund, which built upon their track record of “sourcing and investing in tech companies with the potential for fast-growth.”
Having established themselves on the SEIS stage they are now raising “the third tranche of the Fuel Ventures SEIS Fund to invest in early stage companies that benefit from SEIS tax relief and that have the potential to receive future funding from Fuel Ventures’ established EIS funds.”
The Fund will continue their strategy of “investing in rapidly growing sectors such as marketplaces, software and platform businesses.”
Notable Successes:
- Volt received investment from IVP to achieve a 32.8x valuation uplift on Fuel Ventures Portfolio 3’s initial investment in January 2020.
- Shift, an on-demand logistics marketplace, raised at a £98m post-money valuation, providing Fuel Ventures EIS Portfolio 2 a 23x valuation uplift on its initial investment in October 2017.
- Capdesk has been acquired by Carta for US$88.4 million in a deal comprising a 25%/75% mixture of cash and equity, providing Fuel Ventures Portfolio 3 an 8.7x valuation uplift on its initial investment in March 2019.
- Runa received investment from Albion Capital and Unilever Ventures to achieve a 14x valuation uplift on Fuel Ventures Portfolio 1’s investment in November 2016.
- ContentCal, an online marketing platform, was acquired by Adobe in an all cash deal, providing Fuel Ventures Portfolio 3 a 7.88x uplift on its initial investment in February 2020.
- OnBuy achieved a 14.18x valuation uplift for Fuel Ventures Portfolio 3 following its initial investment in January 2020.
This information is accurate as of 10/01/2024.
The above valuation uplifts “are at the previous round of external funding and may not be representative of the current market valuation.”
As clarified in the update, the valuation uplifts refer to the gross performance and “therefore do not take into consideration fees, commissions, and other costs. Actual returns may vary significantly, and are likely to be lower than the figures stated when fees, commissions, and other costs are accounted for. All the above are unrealised or only partially realised.”
As explained in the update, Fuel Ventures claims that it is in a unique position “to help provide key follow-on growth capital to selected portfolio companies.”
By having this in-house capability this may “provide a significant advantage to the portfolio companies to continue to grow.”
The Fund has been structured “to enable Investors to claim SEIS tax reliefs on the amount of their investment in qualifying shares.”
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