London Business Angels new 250,000 pounds ($402,859) SEIS Roundtable Syndicate fund is now open for business. The launch of LBA’s first SEIS fund follows LBA’s three previous HMRC Approved EIS Funds which have raised over 1 million pounds from its members over the past two years.
London Business Angels ( LBA) is delighted to announce that its new FSA Regulated £250k SEIS Roundtable Syndicate fund is now open for business with all LBA member’s cash invested held by the Fund’s Registrars. The launch of LBA’s first SEIS fund follows LBA’s three previous HMRC Approved EIS Funds which have raised over £1m from its members over the past two years. The LBA SEIS Fund will seek to act as a catalyst for investment through co-investment in circa 4-5 companies alongside LBA investors over the next 18 months. The Fund offers LBA members who wish to invest in SEIS qualifying companies an innovative way to acquire a portfolio of seed investments while taking advantage of the personal tax relief of 50% as well as other tax advantages of the scheme. LBA looks forward to receiving applications from qualifying opportunities looking to take advantage of this new funding source.
Anthony Clarke, CEO of London Business Angels, comments, “LBA’s new SEIS Fund offers our members exposure to a small portfolio of riskier, early stage UK companies, making it easier for these companies to become established and to grow. The opportunity to offer a capital gains tax (CGT)holiday – gains realised on the disposal of assets in 2012-13 that are invested through SEIS in the same year being exempt from CGT is particularly appealing resulting in a potential 78% tax break for our Fund investors. The Fund will only co invest with LBA syndicates particularly where a lead LBA angel investor from the syndicate is mentoring and assisting management so our SEIS model is not just about tax breaks it’s also about providing smart money to start ups”.
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