AIM EIS Fund
Open for new investment
A £5 million fundraise for investment into AIM quoted companies, aimed at EIS investors looking to exit within four years, enabling them to reinvest their exit proceeds to obtain further Income Tax relief.
Targets exit within 4 years of investment
Target of 1.5x return after fees, before tax reliefs*
*return is not guaranteed
No annual management charge
What is the AIM EIS Fund?
The Seneca AIM Fund is an Alternative Investment Fund managed by Seneca Partners Ltd. A version of our EIS Portfolio Fund, our AIM EIS Fund is seeking to raise £5 million for investment in AIM quoted companies only.
The Fund will invest in 5 to 10 companies, aiming to exit all of them within 4 years and targeting a return of 1.5x after fees*, excluding any tax reliefs and fees.
Investors will pay no Annual Management Charge for the management of this fund. Please see the Information Memorandum for details of the charges that do apply.
*return is not guaranteed
Reasons to invest
No AMC
Investors will pay no Annual Management Charge for the management of this fund
Track record
To date we have invested c.£25m into AIM listed businesses which have provided a total return of £41m (£25m cash realised and £16m unrealised as at Sept 2021)
Shorter investment horizon
The strategy for the AIM EIS Fund looks to take advantage of the liquidity shortly after expiry of the 3-year EIS qualification period, which should enable investors to recycle their investments and utilise the initial tax reliefs more effectively
Risks to consider
Risks to capital
There is a high risk of capital loss when investing in smaller companies. You may therefore get back less than you invest or no return at all
Tax treatment may change
Personal circumstances, rates of tax, tax benefits and allowances may change and therefore tax benefits are not guaranteed
Volatility and liquidity
Whilst it is possible to trade shares in AIM quoted companies, this is dependent upon there being willing buyers. Share prices may go down as well as up and investments in AIM companies are likely to be more volatile than those in the London Stock Exchange official list
Companies we've invested in
Gelion
Gelion’s suite of additives for lithium batteries offer the most advanced and affordable performance enhancement for electric vehicles.
- AIM EIS and VCT funds invested at IPO
- £154m float in November 2021
Aptamer Group
Aptamer Group is a leading provider of custom Optimer® selection and development services.
- £800k invested at IPO
- AIM listing Dec 21 at £81m
Seneca's track record of AIM investment
A combined £1.67 per
£1 invested excluding
tax reliefs
The AIM EIS Fund is a new fund which was launched in September 2021. Given it is an EIS fund no exits have been achieved or are anticipated until 2024 at the earliest. We have therefore used our wider exit track record as a simulated performance for this fund. The above figures are based on the 22 AIM quoted businesses that our EIS Portfolio Service has invested and covers the whole period of investing including our initial exit in November 2015. Please note that Fees as described in the Information Memorandum may apply on any exits. Past performance is not a guide to future returns. Your capital is at risk, you may get back less than you invest.
Key documents
- Key Information Document (where financial advice has been given)
- Key Information Document (where no financial advice has been given)
- AIM EIS Fund Brochure
- Information Memorandum
- Terms and Conditions
- Our Custodian’s Terms of Business
- Application Form for Individuals (e-complete)
- Application Form for Individuals (PDF)
Important information
The Seneca AIM EIS Fund is an Alternative Investment Fund for the purposes of the Alternative Investment Fund Managers Directive. It is not a collective investment scheme within the meaning of section 235 of the Financial and Services Market Act nor a Non-mainstream Pooled Investment by virtue of it being a fund complying with the meaning of Article 2 in the Schedule to the Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 2001.
The investments we offer are high risk in nature and therefore not suitable for everyone. If you would like to find out more about the Enterprise Investment Scheme, EISA (the Enterprise Investment Scheme Association) have produced a guide.
Past performance is not a guide to future returns. Target returns are not guaranteed. Capital at risk.
How can I invest?
We recommend that you seek independent financial advice before you invest. Please make sure that you have fully read and understood the Information Memorandum and Terms and Conditions applicable to the AIM EIS Fund product. Please also read our Custodian’s Terms of Business. To make an investment into this product please complete and return the appropriate Application Form available on this page. Alternatively, please speak to our Client Relations team for more information.
Further information
When you Subscribe to the Fund, your Subscription will be held in cash by the Custodian, helping build a sum of money for the Fund to invest (an “investment tranche”). Periodically, we will complete what is known as a “soft close” so that we can start making investments for all those investors who are included in that “investment tranche”. The timing of these “soft closes” will be designed to ensure efficient investment of investors’ money. Once your Subscription is included in an “investment tranche”, we will begin buying shares on your behalf.
The Fund will remain open for further Subscriptions which will build to form the next “investment tranche” until the £5 million fundraise has been achieved.
The minimum initial investment is £20,000
For any additional investments the minimum amount is £5,000
As at 28th May 2021, we had invested more than £24 million in AIM quoted companies in 22 AIM listed businesses, either at their Initial Public Offering (IPO) or in a subsequent fundraise. To date we have realised £23.6 million of cash returns for our investors, in addition to a further £19.1 million of unrealised investments. The total of £42.7m represents a combined return of £1.78 per £1 invested before charges and any tax reliefs.**
The Information Memorandum provides some examples of previous investment we have made.
Copies of previously issued EIS 3 certificates are available to download from our secure online portal. If you do not have a login, please contact our Client Relationship Team on 01942 271746 for further information.
Our portal contains copies of EIS 3 certificates for investments made through our EIS Portfolio Service, our Evolution Fund and our Managed Storage EIS Funds.
Outstanding EIS 3 Certificates
EIS 3 certificates have yet to be issued for the following investment rounds:
Poolbeg Pharma PLC (July 2021) – expected by 31/01/2022
Please note that the expected dates shown are only intended as a guide and may be subject to change. We have no control over how long it takes HMRC to authorise the issue of EIS 3 certificates.
Unfortunately, there are occasions where an EIS qualifying investment fails. If that happens, you may be entitled to claim loss relief against Income Tax or Capital Gains Tax. We have produced a PDF guide that you can download here: Guide to loss relief.
