Braveheart launches new EIS fund
AIM-listed funding house, Braveheart Investment Group has launched a new EIS-approved (enterprise Investment Scheme) fund. The technology commercialisation-focused firm's fund succeeds the its Alpha EIS Fund.
The Beta EIS Fund will make a series of new investments as well as providing follow-on funding for some of Braveheart's 48-strong portfolio of companies. UK investors in the new fund will benefit from the usual EIS tax advantages, with a minimum subscription of £10,000 and a maximum of £500,000 per individual (or £1m per couple).
Geoffrey Thomson, chief executive of Braveheart, said the company has a strong pipeline of new opportunities and believes the EIS asset class, with the 50% tax rate looming, is set to become more widely utilised by investors interested in supporting the growth of smaller businesses.
"We believe high net worth investors should have an exposure to the EIS asset class. The advantage of EIS is that investors can back high risk/high reward companies in a tax efficient way. If the investment fails, the investor can set the loss against tax: on the other hand, if the investment comes good, the investor can realise the gain without, in most cases, paying tax on the profit.
