Seneca AIM EIS Fund plans first ‘soft’ close

Seneca AIM EIS Fund plans first ‘soft’ close

Seneca Partners, the specialist SME investment business based in the North-West has announced the first ‘soft’ close of its recently launched AIM EIS Fund (‘the Fund’)  – which will take place on Monday 1 November.

As a result of strong investor demand and a healthy pipeline of new AIM opportunities, the Fund is planning to complete its first investments in November.

The Fund offers each investor a portfolio of five to ten AIM-only quoted investments and those who invest in the initial tranche are expected to be fully invested in the current tax year. The AIM EIS Fund is designed to complement the evergreen Seneca EIS Portfolio Service, which blends both private and AIM-quoted investments.

Seneca Partners Investment Director, Matt Currie commented: “Our new AIM only EIS Fund has very much captured the imagination of advisers and investors who like the substance behind the growth companies we will be supporting. The additional visibility and governance behind AIM quoted companies and the enhanced liquidity which should facilitate exits and returns within a shorter investment horizon than is typically the case under EIS investment.

“Most, as intended, also see the efficiency of the ongoing planning opportunity from regular exits for their clients rather than simply using EIS as a stand-alone product and our established track record of returning cash to our investors in timely fashion over a sustained period is clearly a key part of that.’’

All investors wishing to participate are required to submit their completed applications together with cleared funds no later than 5pm on 1 November in order be accommodated in these investment rounds.

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