MMC Ventures has reopened the MMC Growth Generation Fund. The fund is the first of its kind and is structured to provide a younger generation of investors with access to high growth companies, EIS tax benefits and the opportunity to build long term capital gains.
MMC Ventures, one of London’s leading VCs and an award-winning fund manager, today reopens the MMC Growth Generation Fund. The fund is the first of its kind and is structured specifically to provide a younger generation of investors with access to high growth companies, EIS tax benefits and the opportunity to build long term capital gains. To celebrate, MMC hosted an event last night aimed at giving young people the opportunity to learn about venture capital investing and encouraging them to get involved in UK private company investment.
MMC launched the Growth Generation Fund in January 2010, having noticed a growing interest in the venture capital market amongst younger investors. The reopening of the fund creates an opportunity for 18-35 year olds to invest in hard-to-access, fast growing private UK companies at very low cost – and reap the potential gains offered by investing in the UK’s thriving entrepreneurial economy.
Last night’s event, held at Morton’s private members club, brought together investors – both current and potential – with successful entrepreneurs and the MMC Ventures team, for an evening of discussion and networking.
Avid Larizadeh, CoFounder and COO at Boticca.com, the largest fashion accessories-only focused website in the world, spoke of the challenges she and her CoFounder faced launching Boticca; touched on the impact taking venture capital money had on the business; and spoke about how fantastic it is for people to get into investment at an early age. “I’ve been fortunate enough to have had experience as both an investor and an entrepreneur. For a young person it’s actually really hard to become an investor today – and so I’m really pleased that MMC has reopened the Growth Generation Fund. Participants will benefit from access to very low cost and tax efficient venture capital investing in the UK – and indeed the opening up of the hugely exciting world of high-growth business.”
Rory Stirling, Partner, MMC Ventures, said of the fund and last night’s event: “Much of our high-growth economy is built on the hard-work and innovative thinking of 18-35 year olds, yet this cross-section of the investor community rarely gets to access to an opportunity such as the Growth Generation Fund that – in addition to the usual tax breaks – is distinguished from any other fund in the market by the fact that we do not charge investor fees. We also believe that Growth Generation investors could be an invaluable source of exciting, fast growing companies. They are a collection of talented individuals who could be great additions to the management teams of our portfolio companies – and a source of prime strategic input into emerging trends in the new economy.”
The MMC Growth Generation Fund is open-ended and subject to a minimum subscription of £2,500 and a maximum of £10,000. Subscriptions are invested in the same deals and on the same terms as the MMC EIS Fund. The Growth Generation Fund charges no annual management fees.
About MMC Ventures
Founded in 2000, MMC Ventures is an active investor and award-winning venture fund manager, focused on technology-enabled sectors where the UK is a world leader -particularly financial and business services, business software, digital media and e-commerce. With over £110 million under management, and investing close to £15 million annually, MMC was rated as the third most active early-stage investor in 2012. MMC specialises in fast-growth early-stage businesses, partnering with entrepreneurs and impressive management teams to achieve substantial scale and profitability.
MMC’s existing portfolio includes AlexandAlexa, Base79, Interactive Investor, Knowledgemill, LoveHomeSwap, Reevoo, NewVoiceMedia, Tyres on the Drive, Masabi, TotalMobile, Safeguard, iJento, Small World, Somo and Boticca.