Republic Europe has listed an SEIS Fund that reports 12 exits to date.
An SEIS fund, or Seed Enterprise Investment Scheme, offers significant tax benefits to investors who participate in a securities offering qualified under the program. Benefits may include no capital gains tax as well as a 50% reduction in taxes on the initial investment.
The Jenson SEIS Fund, incorporated in 2012, was recognized as the Best SEIS Fund manager in 2024. According to the offering page, to date, it has invested in 150 startups, committing £29 million. As for the exits, they indicate they generated 10X returns as of 2023. The current portfolio’s enterprise value reportedly tops £280 million.
On the Jenson Ventures website, the fund indicates it has a planned exit strategy:
“Each investment includes a planned exit strategy to maximise returns and provide investors with clear timelines for their investments. Historical exit multiples have averaged 4.69x, with the highest at 12x.”
The investment strategy is “sector agnostic.”
While the offering on Republic indicates a £2,000.00 minimum for a direct investment, on Jenson’s site it states a £10,000 threshold. Otherwise, you are participating in a nominee structure.
The benefit of a fund is immediate diversification in a high-risk sector. For less risk-tolerant investors interested in early-stage investing, this may be a suitable option. The downside is that you need to be patient, as there is no secondary market for these shares.
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