Oxford Investment Opportunity Network Ltd (OION) launches SEIS Fund
OION a leading business angel network owned and managed by Oxford Innovation, the provider of business coaching services to the smaller end of the SME sector, is pleased to announce the launch of its initial Seed Enterprise Investment Scheme (SEIS) Fund.
The OION 2015 SEIS FUND “The Fund” is promoted and managed by Innvotec Ltd, a long-established, FCA regulated Alternative Investment Fund Manager, specialising in investment in start-up and early-stage businesses. Innvotec has a record of raising and managing successful EIS and SEIS Funds.
OION is Innvotec’s strategic partner in the Fund with specific responsibility for identifying high potential investment opportunities and assisting the entrepreneurs and their businesses post investment.
The Fund is the first in a proposed series of annual SEIS funds dedicated to investing in start-up and young companies identified by OION that are located in Oxfordshire and Thames Valley region – within a one-hour drive of Oxford.
Oxford itself has long been one of the pre-eminent global locations for world-class technology research and development, with a multitude of commercially viable businesses spun out from its universities and science parks; it is this simmering of technical and entrepreneurial talent in the local area which the fund is seeking to help exploit.
The Fund is looking to support first-class entrepreneurs whose businesses are located in the region and whilst most will undoubtedly be operating within the broadly-based technology sector, there is no restriction on investee company profile or sector (other than those sectors excluded by HMRC).
Portfolio companies will be provided with on-going management support and advice delivered through the OION network of business advisors. SEIS is a newly introduced tax relief (the younger and smaller sibling to EIS), it offers higher rates (currently 50%) of income tax relief for subscription of up to £100,000 per annum in smaller, early stage companies. Depending on their individual circumstances, investors in the SEIS Fund may be able to claim up to 78% tax relief (including capital gains deferral relief). Any and all gains are free of CGT after a 3 years holding period.
The Fund should prove attractive to high earning individuals, those with CGT to shelter and who believe in the entrepreneurial talent and business opportunities that are inherent in the region.
Don McLaverty, Managing Director of OION said of the launch:
“OION hopes this will be the first of the SEIS funds and we are pleased to be working with Innvotec to support the growth of a number of high quality start-ups from across the Oxfordshire and Thames Valley region”
John Marsden, Managing Director of Innvotec commented:
“Innvotec is delighted to be working alongside its strategic partner OION and excited at the prospect of investing behind first-class entrepreneurs in stellar businesses located in Oxford and the surrounding area”.