Next gen orthopeadic implant innovator OSSTEC has seen its share price triple since the Access EIS Fund invested in March 2023. We spoke to CEO and Founder, Maxwell Munford, about the development and growth of a groundbreaking medtech company and what lies ahead.SyndicateRoom: In a few sentences, tell us what your company does.Max Munford, Osstec Founder & CEO: OSSTEC is a medical technology company developing next-generation orthopaedic implants. By leveraging innovative 3D-printing techniques, we create implants with biomimetic, cementless fixation and articulating surfaces that enhance functionality and longevity. Our goal is to improve patient outcomes by providing a more durable, stable, and efficient solution for knee replacement surgeries.SR: How are you feeling about the progress your business has made so far; what are your plans for the immediate future and the longer term?MM: We are very pleased with our progress, particularly after securing £2.5 million in funding in March 2025....

How one company is producing carbon-negative chemicals using bacteriaIn a world searching for sustainable alternatives to fossil fuel-derived products, Deep Blue Biotech – a graduate of climate-tech-focused fund Carbon13’s 2023 Venture Builder programme – is making waves with an innovative approach to chemical production.Using cyanobacteria – one of the most efficient photosynthetic organisms on the planet – they're developing technology that not only creates valuable chemicals for the personal care industry but removes CO2 from the atmosphere through the process.Tim Corcoran and Manuel Rios from Deep Blue Biotech sat down with us on the Angel Insights Podcast to talk through their groundbreaking work in synthetic biology, their business model, and their vision for a more sustainable future.The power of synthetic biologyDeep Blue Biotech is leveraging synthetic biology – essentially "coding life," as Manuel Rios describes it – to create valuable chemicals using cyanobacteria. This approach allows them to edit how...

In March 2025 we added one new startup to the Access EIS portfolio, investing in MindSpire alongside a member of our super angel network (for more on our super angels, and our co-investment model, see our angel page.) You can read about our new portfolio company below.If you're interested in making an investment and building your own portfolio of promising startups, you can read more about how to get started, or if you'd prefer to speak to our team about the benefits, angel co-investors, tax reliefs and potential for returns, you can use this link to schedule a call.MindSpire: pioneering personalised vagus nerve stimulation for neurological healthMindSpire is a UK-based health technology company developing an innovative solution to address chronic neurological conditions through personalised vagus nerve stimulation. Their flagship product, SONA, represents a breakthrough in non-invasive neuromodulation technology.The global challengeThe world is facing a growing crisis of chronic neurological conditions...

The Access EIS portfolio comprises some truly groundbreaking new startups that are helping to carry their respective industries to the next level.The portfolio is sector agnostic and offers investors an opportunity to back the next generation of world-changing startups, each of which is hand-picked by one of the UK’s leading angel investors. You can view our existing portfolio companies here.The Access EIS Fund co-invests with angel investors who have demonstrated their ability to outperform the market, allowing us to access the highest quality deals on exactly the same terms at an earlier stage than most funds. They include some of the most accomplished angel investors in Britain, carefully vetted to ensure they have a track record of success and specific sector expertise.Latest news from the Access portfolio:Solascure enrols first patient in a next Phase II clinical trial to advance Aurase Wound GelThis biotechnology company is advancing its innovative wound care...

Osstec was founded to address the growing prevalence of knee osteoarthritis (1.3m people are currently affected globally) and the high long term failure rate of the solutions currently available. 35% of existing knee implants fail, primarily as a result of loosening between the implant and the bone.The expectations of the capacity of implants varies considerably with age group: elderly patients tend to emphasise pain reduction and restoring mobility, while younger patients emphasise the need for implants resilient enough to facilitate a return to an active lifestyle. Implants that can cover all demand levels are ideal.A further complication with many existing implants is the use of bone cement, which has been found to be a contributor to implant failure as well as to other complications and side effects. Cementless implants have been found to fail 50% less.Osstec’s solution is an additive manufacturing bone healing technology, currently applied in partial knee implants,...

In the latest episode of the Angel Insights podcast, we sat down with Rob Wallis, co-founder of Moth Drinks, a SyndicateRoom portfolio company that's revolutionising the ready-to-drink cocktail market. From its humble beginnings in a home kitchen to expanding across the Atlantic, Moth has established itself as a premium brand in a rapidly growing category. Here's how they did it. You can listen to the podcast here: From a bartender's kitchen to supermarket shelves Rob's journey began with a Christmas gift and a simple question: why couldn't cocktails be as easy to enjoy as a beer but with the quality of a bar-made drink? After receiving a bottle of whiskey, the former bartender created an old-fashioned masala chai and discovered something interesting. "When I wanted a drink on a Friday night, I chose the old-fashioned because it took no more brainpower. But it was way more delicious and way more...

In February 2025 we added three new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our angel page. You can read about our new portfolio companies below.If you're interested in making an investment and building your own portfolio of promising startups, you can read more about how to get started, or if you'd prefer to speak to our team about the benefits, angel co-investors, tax reliefs and potential for returns, you can use this link to schedule a call.AnyaWinner of the National AI Awards for Healthcare in 2024, Anya is a digital health solution that combines pioneering AI technology with the expertise of human healthcare specialists to offer personalised 24/7 support for women's health from fertility through pregnancy to parenthood and menopause.“Women’s healthcare has been underserved for far too long, and we’re on a...

SyndicateRoom's latest fund, in partnership with Carbon13, gives investors the opportunity to build a portfolio of six promising climatetech companies that have passed through climatetech-focused Carbon13's prestigious venture builder programmes.We spoke to their Head of Marketing, Sara Jones, for more insight into what makes Carbon13 and its companies special, and why investors should take advantage of this opportunity while they can.Please note, the Carbon13 Fund VII closes this Friday, 7 March. Be sure to stop by the [fund page](/carbon13-seis) before then if you'd like to make an investment, and benefit from SEIS tax reliefs.1. Syndicateroom: What sets Carbon13 apart for investors?Sara Jones, Carbon 13: We build our own deal flow, internally. We don't compete for it. Because we're climatetech, we are diversified across industries and technologies, so we invest in so many different sectors.We are a top-class talent magnet; that's one of the biggest things that sets us apart. An...

Jove’s share price has jumped by 293% since our investment in 2021. "Jove is at the forefront of changing the landscape of how insurance is being quoted and purchased globally." Founded in August 2020, Jove provides borderless work related insurances to SMEs and their contractors. This includes business liability, workers compensation, sickness cover to portable equipment, hired in plant and goods in transit insurances. It provides API-driven real time enrolment and risk analytics, an AI-driven insurance validation module, marketplaces and work related digital platforms that enable businesses to embed fit for purpose insurances directly into their candidate onboarding process and throughout project cycles. Crucially, Jove simplifies the process of managing contractor insurance and certifications, automating compliance checks and speeding up onboarding. This is down to its cutting-edge systems, which include an AI-powered insurance validation model and seamless integration with applicant tracking systems (ATS) such as Bullhorn. Its borderless insurance coverage...

The world’s most pressing climate challenges demand bold solutions—and visionary investors. In our latest webinar, Carbon13’s experts explore how early-stage climate ventures are leading the charge in cutting emissions and transforming industries. Join Carbon13 Principle Min Dhillon as he covers: I. How Carbon13 identifies and supports high-impact climate startups.II. The role of venture capital in accelerating decarbonisation.III. How investors can benefit from SEIS tax relief while supporting groundbreaking climate solutions.If you're ready to take the next step, [register here](/join) or contact us to discuss investing in the Carbon13 SEIS Fund. Together, we can invest in solutions that make a real difference. Find out more about the Carbon13 SEIS Fund. The Carbon13 SEIS Fund Our latest investment opportunity is an SEIS fund focused on returns with purpose, building and backing early-stage businesses addressing Earth’s vital life support systems. This fund, Carbon13's 7th SEIS fund portfolio, will invest in pre-seed companies that...

In a recent episode of the Angel Insights podcast, we had the privilege of speaking with Louise Parlons Bentata, the CEO and co-founder of Bluemethane. The conversation revealed the surprising scale of the methane problem and how Bluemethane is pioneering innovative solutions to tackle it, turning it from a warming agent into a clean energy.Listen to the podcast episode here:Understanding the methane problem"Methane is a bit like the ugly duckling compared to CO2," Louise explained. "It's between 28 and 84 times more potent, which means when it's in the atmosphere, it absorbs much more heat."While carbon dioxide (CO2) often dominates climate discussions, methane plays a disproportionately large role in global warming. Louise explained that methane is between 28 and 84 times more potent than CO2 at trapping heat in the atmosphere.Despite accounting for 25 to 30% of global warming to date, methane receives less than 1% of climate-related investment. This...

Nivoda’s share price has jumped by 484% since the Access EIS Fund's Biannual Report in November, compared to our initial investment, taking the company's share price to to 1,162% above its level at the time of our investment in 2020. The world's largest collection of gemstones, including natural and lab grown diamonds. Nivoda is the world’s fastest-growing online diamond marketplace. It was founded to address inefficiencies in the world of diamond trading, and presents a solution to increase sales and margins for businesses of all sizes while removing the burden of sourcing diamonds. As the world of diamond sales becomes increasingly competitive, Nivoda offers sellers a platform that allows them to purchase diamonds from all over the world, including the option to purchase from multiple suppliers in one transaction, place stones on hold to finalise purchases without losing the stone, and even deploy the Nivoda Showroom virtual presentation tool to...

In January 2025 we added two new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our angel page. You can read about our new portfolio companies below. If you're interested in making an investment and building your own portfolio of promising startups, you can [read more about how to get started](/how-to-invest), or if you'd prefer to speak to our team about the benefits, angel co-investors, tax reliefs and potential for returns, you can use this link to schedule a call.Leafr Leafr operates an online recruitment platform which aims to connect clients with vetted freelance sustainability consultants. The business was founded to address a problem faced by a growing number of businesses attempting to operate sustainably: that it is a struggle to find quality sustainability talent. Founded by experienced sustainability consultants who had observed the...

Investing in early-stage companies in the UK comes with risk, but it also brings significant tax reliefs and the potential for meaningful financial returns. The Carbon13 SEIS Fund is designed for investors who want to back pioneering climatetech startups while taking advantage of the Seed Enterprise Investment Scheme (SEIS). Here’s what a £10,000 investment could look like.Your tax relief on a £10,000 investment The UK government introduced SEIS to encourage investment in early-stage businesses by offering some of the most attractive tax reliefs available. When you invest £10,000 in the Carbon13 SEIS Fund, you may be eligible for: - 50% income tax relief – Up to £5,000 can be claimed back against your tax bill. 50% capital gains tax reinvestment relief – If you reinvest capital gains into the fund, up to £1,200 in CGT can be reduced.100% capital gains disposal relief – Any profits from selling SEIS shares after...

In January I sat down with Elliot Brooks, Co-founder and CEO of climatetech startup Cocoon to discuss the company's journey, the challenges of scaling a hardware climate startup, and how they are tackling one of the biggest contributors to global emissions – concrete. In our conversation on the Angel Insights podcast, Elliot shared valuable insights into how Cocoon is repurposing industrial waste to create a low-carbon cement substitute that can drastically cut CO₂ emissions. You can listen to the podcast here:Concrete is the foundation of our modern world – literally. It is the second most consumed material after water and forms the backbone of our cities, roads, and infrastructure. Yet, few people realise that concrete production is one of the most significant contributors to global CO₂ emissions. Cement, a key ingredient in concrete, accounts for 90% of the emissions associated with concrete and is responsible for roughly 7-8% of global...

The UK startup funding landscape has undergone significant changes over the past decade, shaped by monetary policy, inflation, and broader economic conditions. A detailed analysis of both the overall venture capital market and the Enterprise Investment Scheme (EIS) reveals fascinating insights into how different segments of the startup funding ecosystem respond to economic pressures.The overall UK venture capital market: the influence of interest rates Total invested capital in venture capital deals compared to Bank of England interest rates The overall UK venture capital market showed remarkable changes between 2013 and 2024. From a modest £2 billion in 2013, funding surged to a peak of £24 billion in 2021 before retreating to projected levels of £11.5 billion in 2024. You can see this compared to the average Bank of England base rates for interest, which underwent a surge in recent years as total investment dropped, and so there is a partial...

The Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Schemes (SEIS) remain favoured investment choices for many reasons. Investors turn to these schemes because early stage startups which may go on to be the next Uber or Airbnb represent a potentially significant return on investment; because they are innovative, and impactful, using the latest technologies to address social and environmental issues; and because of the array of significant tax benefits the schemes provide. You can review the tax benefits available to investors through these schemes in the images below. Tax reliefs available to EIS shareholders Tax reliefs available to SEIS shareholders Key considerations for maximising EIS benefits Deployment timelines For most S/EIS funds, transferring your capital into the fund is straightforward and more or less immediate. The challenge lies in deploying these funds into eligible startups. The time frame for deployment varies by fund, ranging from several weeks to as...

UK climatetech investment surged in 2024 In the final weeks of 2024, PricewaterhouseCoopers' Global State of Climate Tech report revealed a significant surge in investment in UK climate technology. Investment into UK-based climatetech companies surged 24% in 2024 to reach a total of £4.5 billion. An even more impressive surge occurred in investment into UK-based AI climatetech firms, which saw a 128% increase in investment to hit a total of £1.01 billion, and PwC reported that 22% of all investment globally into AI-related climatetech startups went into UK-based companies. This surge in climatetech investment in the UK took place against a broader decline in climatetech investment globally, which declined from 2023 levels in 2024 thanks to higher borrowing costs and the economic uncertainty posed by world events. Changes in the US and the impact on the UK & Europe In the US, while investment in climatetech held firm through 2024,...

As the world of angel investing evolves, staying ahead of emerging trends and adapting to shifting market dynamics is crucial. Drawing insights from a recent survey of top-performing UK business angels that form the SyndicateRoom angel network, this article explores their reflections on 2024 and their expectations for 2025. From funding patterns to the impact of economic conditions, the data reveals both challenges and opportunities shaping the future of angel investing. A look back at angel investing in 2024 2024 proved to be a challenging year for many angel investors. The macroeconomic climate, characterised by inflation, market upheavals, and geopolitical uncertainty, shaped investment strategies across the board, though several angels observed that things were improving, and there was some pickup in angel investment. A climate of greater risk for startups was suggested, with some startups finding it harder to establish escape velocity or attract funding, and this led to some...

Between November and December 2024 we added seven new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our angel page. You can read about our new portfolio companies below. If you're interested in making an investment and building your own portfolio of promising startups, you can read more about how to get started, or if you'd prefer to speak to our team about the benefits, angel co-investors, tax reliefs and potential for returns, you can use this link to schedule a call. Material Index Material Index provides a digital platform for building owners and contractors to manage and exchange materials and enable their reuse. More than 60% of the UK's waste is generated by the construction industry, with only 2% of building components seeing reuse. Material Index specialises in brokering the onward trade of...

The Access EIS Fund's latest portfolio growth numbers show that in difficult economic conditions this innovative approach to investing – building large portfolios, with companies chosen by a network of the UK's most successful angel investors – is an effective way to build venture capital portfolios and capture the consistent growth of the UK startup market as a whole. Built on a model that aims to capture the consistent ~25% growth of the entire UK startup market by building large portfolios of the market's top 10% of performers, in its latest Biannual Report the Access EIS Fund reported overall its valuation had increased by 25.6%. Access EIS Fund overall valuation: +25.6% 2020 cohort valuation: +35.1% 2021 cohort valuation: +48.2% 2022 cohort valuation: +10.2% 2023 cohort valuation: +7.8% In the face of economic uncertainty, falling valuations, and reduced venture capital (VC) investment across the broader market, the Access EIS Fund offers...

In October we added four new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page. You can read about our new portfolio companies below. If you're interested in making an investment and building your own portfolio of promising startups, you can read more about how to get started on our dedicated page, or if you'd prefer to speak to our team about the benefits, angel co-investors, tax reliefs and potential for returns, you can use this link to schedule a call. Collider Collider develops and sells non-alcoholic beer infused with adaptogens, nootropics and functional mushrooms, to provide a mood-boosting alternative to alcohol. Its beer is made using traditional ingredients and brewed in exactly the same way as alcoholic beer, but uses special strains of yeast and environmental control to ensure its alcohol...

In the Autumn Budget delivered by Rachel Reeves on 30 October, a number of significant changes were made to taxes, tax thresholds and existing exemptions that will affect the tax you pay, in some cases with immediate effect. Some of the most notable changes affecting individuals were to capital gains tax (CGT), inheritance tax (IHT), and pensions. Read on for the details of each change, what it means for you, and how schemes like EIS can help. Please note, that we are not tax advisers, and any decisions around making investments for tax purposes should be discussed with an adviser familiar with your personal circumstances. Capital gains tax has increased, effective immediately. What's changing? "Capital Gains Tax (CGT) will increase from 10% to 18% for those who pay the lower rate, and 20% to 24% for those who pay the higher rate. These new rates will match the residential property...

Climate tech is one of the areas generating the most significant interest, and attracting the most investment, in UK startups today. This interest has gone against the broader investment trend that has seen venture capital investment slow down in recent years in the wake of an investment surge through 2021 and 2022. While the UK economy saw growth of just 0.5% in 2023, the UKs net zero economy – the subdivision comprising businesses that aim to reduce greenhouse gas emissions to zero by 2050 – grew by 9%. London climate tech startups raised $3.5b in 2023, a significant increase over the £2.2b raised in 2022, putting the UK third globally for VC investment raised in 2023, and London second in the world for climate tech investment, behind Stockholm. As the realities of climate change have become more apparent, and the threats it poses more tangible and immediate, there has been...

In September we added four new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page. You can read about our new portfolio company below. If you're interested in making an investment and building your own portfolio of promising startups, start here. NIMBI Nimbi is built on the ambition to re-engineer plastic products that are used everyday on a mass scale and find a plastic-free solution. Nimbi's debut sustainable product – the SUPPLY 001 disposible razor – is built using a first-to-market material comprising waste wood pulp, pine oil and clay. Nimbus plans to continually improve it in terms of environmental impact, constantly testing the design with new and improved materials, as technology develops. Its unique premium blade lasts longer than multiple cheap blades, eliminating surplus steel, reducing the carbon footprint. Our angel...

Where do most investors start? A major advantage of investing – in addition to the potential for returns – can often be gaining access to the tax reliefs available through specific types of investment. While tax efficient options are of course available even for savers through ISAs and pensions, many people begin looking for additional methods of optimising their tax efficiency once they've used their ISA and pension allowances. Tax efficient investment schemes like EIS, SEIS and VCT, each of which offers its own set of tax benefits, give investors the opportunity to increase the amount of invested capital that's eligible for tax savings, while putting their money to work in the UK's flourishing startup ecosystem. Why do investors turn to venture capital for tax efficiencies? For many investors, this opportunity to be tax-optimal while supporting businesses, technologies, and sectors about which they are particularly passionate, in many cases lending...

Where do most investors start? Many investors start building their portfolios with investments in conventional assets such as quoted equities, cash and bonds. While cash investments – we'll include savings accounts like cash ISAs here – and bonds are generally considered low risk, they only offer modest returns. For this reason, investors seeking a more meaningful return usually turn to investments in publicly traded equities. These are certainly higher risk, as they are subject to market fluctuations, the fortunes of any given company, the performance of competitors and anything else that might affect the price of stocks and shares, from wars to natural disasters. But in most cases they are highly liquid, so investors can sell their shares and recover at least some of their money when they choose. The downside of conventional investments The downside of conventional investments is that they offer limited opportunities for diversification, so if something...

What measures should you put in place to handle fiscal drag and the expected capital gains tax hikes in the incoming budget? As the 2024 Autumn Budget draws closer, many investors are looking for tax-efficient options to soften the impact of expected tax increases. Anybody who's looking to sell a second home is bound to be thinking about capital gains tax, and what options are available to reduce their tax bill. But investors should be thinking about their income tax bills too. Even though we're unlikely to see increases to this tax, people may end up paying more thanks to fiscal drag. Which taxes are expected to rise, and which aren't? Chancellor Rachel Reeves has said that some taxes will need to be increased to address a £22 billion shortfall in the public finances. While Labour has stated that its manifesto promise will be kept – that VAT, national insurance...

In August we added one new startup to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page. You can read about our new portfolio company below. If you're interested in making an investment and building your own portfolio of promising startups, start here. Lighthearted AI Lighthearted AI is a heart disease diagnostics company that aims to make diagnostics quick, cheap and simple. Its precision cardiology platform revolutionises heart disease diagnosis by using laser-based technology and advanced AI. This innovative approach acquires biomarkers from a distance, enabling quick and accurate diagnostic reports without expert intervention, making the process more accessible and efficient. Its mission is to prevent 10 million deaths by 2030 through the use of a novel non-contact device that detects heart conditions quickly and accurately. Our angel partner in the round has an...

Many investors are interested in the high return potential of EIS and SEIS – not to mention the tax reliefs – but are put off by the risk of investing in early stage startups. In our latest webinar Dr. Brian Moretta of Hardman & Co sets out the methods to incorporate a degree of EIS or SEIS in a traditional portfolio in order to benefit from the added return potential, without affecting your portfolio's risk profile. SyndicateRoom offers the following products to investors: The Access EIS Fund We spent three years analysing the UK startup market and found that in its entirety, it grows by around 25% year on year. We set about devising a method to capture this market growth for our investors by building them the most diverse portfolio currently available on the market. Minimum investment: £5,000 Find out more If you would prefer to speak to one...

How have the last four years affected startup performance? SyndicateRoom CEO Graham Schwikkard looks at the numbers. The year 2020 was a year like no other. The COVID-19 pandemic changed everything, causing huge and immediate changes to our lives and economies. Startups and venture capital were not spared from this turmoil. We obviously did not predict the pandemic and started our first investments for Access EIS in January 2020. All these investments faced a world of uncertainty and rapid changes in how people lived and worked. So I wanted to look into how this 2020 cohort of startups performed as investments, highlighting their successes and how we did at capturing their growth. I have written previously looking at the long term performance of startup cohorts in the UK – you can read my article from last year where I indexed the 2011-2015 UK cohorts. This analysis does form one of...

The SEIS and EIS venture capital schemes offer investors some very significant tax relief options to incentivise investments into early stage startups that are considered high risk. But how good a deal is SEIS, and what are those tax reliefs really worth? Our latest fund, the B2B SaaS SEIS Fund offers investors the chance to invest in SEIS eligible pre-seed companies, and to gain access to SEIS tax reliefs while they build a portfolio of promising new companies, hand picked with the benefit of Founders Factory's extensive expertise with new tech businesses. While some investors see 'high risk' and don't look any further, an increasing number of investors in SEIS are realising that in certain situations they still stand to gain more by investing than they would if they chose not to invest and claimed no tax relief, even if their shares were to fall in value. Below, we look...

With taxes widely expected to rise in the October budget, investment schemes like EIS and SEIS that offer relief across a broad spectrum of taxes are set to become even more appealing to investors. While it's not yet known exactly which areas the increases will affect, there is a strong possibility that taxpayers will find themselves paying more, and that traditional investment vehicles, including pension schemes, will see their benefits diminish. In July, UK Chancellor Rachel Reeves announced the likelihood of tax increases to address a £22bn hole in the public finances uncovered after the Tory government left power. Increases to income tax, National Insurance and VAT were ruled out during Labour's election campaign, suggesting that capital gains tax or inheritance tax might be in line for an increase, and we might see changes to pensions and ISAs. It is worth noting that while income tax is unlikely to increase,...

In July we added two new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page. You can read about our new portfolio companies below. If you're interested in making an investment and building your own portfolio of promising startups, start here. Lemon Lemon is a SaaS platform that enables companies to organise and pay for subscriptions to software services in one place. The service facilitates insights into overspending, lets users pay for annual subscriptions on a monthly basis, and helps businesses easily track renewal dates and unused or duplicate licenses. Our angel partner in the round has an IRR of 35% and their previous investments include Evotix, Bank of Telecom & Thoughtonomy. Total Round: £500,000. Stage: Pre-revenue. Visit website Fit Collective Fit Collective provides a multi-faceted, AI powered tool to help solve...

At the start of 2024 our angel investors identified four important sectors that they were most interested in investing in this year. To continue this series, we'll focus on one of these sectors: artificial intelligence. Because artificial intelligence is vast, and the most significant changes in this field currently are in generative AI specifically, we'll focus on that for this article. What is generative AI? While artificial intelligence (AI) is a term that's been talked about for decades, recent developments in the technologies that represent AI on a more applied, granular level, including machine learning and generative AI, have catapulted the sector into the limelight, particularly for investors looking for long term growth. To quote IBM, "generative AI refers to deep-learning models that can generate high-quality text, images, and other content based on the data they were trained on." It represents a breakthrough in machine learning by which programs passed...

For investors in startups it's been a very interesting few years. Following the record breaking highs of 2021 and 2022, 2023 saw venture investors globally raise the lowest level of capital since 2015. (source). While this has made conditions more challenging for startups, for investors looking to get started with investing in startups, there are several reasons why investing now makes sense. Valuations have fallen Startup valuations across all stages grew through 2021 and 2022, before starting to decline in Q4 2022. Through 2023, valuations at Series A and Series B stages continued to decline, while earlier-stage deals held firm, with some even seeing valuations increase (source). While activity fell across all stages, later stage deals suffered the most, and investors began to move their money into earlier stage deals, particularly seed and pre-seed stage. These companies' valuations were lower, and they weren't carrying the 'baggage' of inflated valuations from...

In June we added one new startup to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page. Find out more about our fund, Access EIS, or read about our new portfolio companies below. Earlybird Earlybird is a voice-based SaaS tool for employability providers that helps to accelerate the onboarding process and reduce the burden on resources, freeing up more time to dedicate to each individual participant. It improves employment support by directly engaging participants through simulated, voice-powered conversations, capturing the information organisations need to build a deeper understanding of their needs, while using intelligent algorithms to analyse the data and deliver insights and recommendations to employment advisers. Our angel partner in the round has an IRR of 32% and their previous investments include The Plum Guide, Plentific & Learnerbly. Total Round: £500,000. Stage: Pre-revenue....

This webinar provides an overview of our most recent fund performance report, including our most recent growth percentages by cohort and information about individual portfolio companies. If you're interested to find out more about our fund, our innovative model, and some of the companies we've backed – hand-picked by our network of experienced angel investors – click the video below. To find out more about how the Access EIS Fund can work for you or your clients. Use the button below to schedule a call with our expert, Tom Britton. Schedule a call with us.

The investment landscape has seen some challenging times in recent years. Equity investment slowed down significantly in 2023 as geopolitical instability triggered record inflation and many investors decided to bide their time before making new investments. Towards the end of that year, the UK entered, then exited a technical recession. Now, in 2024, how is the investment landscape looking, and are things starting to recover? We spoke to Jenny Tooth OBE, Executive Chair of the UK Business Angels Association (UKBAA) to hear her perspective on this, and on what possible impact a change of UK government might make. (please note, this interview was conducted prior to the Labour victory in the 2024 General Election.) Tom Britton: Jenny you have a good view on the market and what's going on, being the voice of angel investing in the UK. We've had two or three years of abnormal angel investing, largely as...

In May we added two new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page. Find out more about our fund, Access EIS, or read about our new portfolio companies below. Heatio Heatio is creating a dynamic, low-carbon energy system that allows users to connect, monitor and control their home energy resources with nex-gen smart technology. Its main product – Heatio Flexx – combines in-home data, AI and machine learning to give users complete visibility of their home energy usage and make recommendations to improve energy efficiency. To date, Heatio's innovative solution to the energy crisis has allowed it to secure £1.2 million in government contracts and pilot an initiative to connect 5000 properties to its Virtual Power Plant. Our angel partner in the round has a weighted annual growth rate of...

David Hole has over 30 years of experience as a qualified, professional financial advisor. In this time he has bought, developed and sold a business (Norris and Fisher Limited) and founded and sold another successful business (Inspire Financial Services Limited). As an accredited and insured money coach he gains huge personal fullfillment from using his expertise to help people achieve their financial goals. Find out more and contact David here Understanding capital gains tax (CGT) Selling a business is a momentous occasion, often marking the culmination of years of hard work. But the celebrations can be dampened by a looming capital gains tax (CGT) bill. This is where the Enterprise Investment Scheme (EIS) comes in, offering a tax-efficient way to defer that CGT burden and ease your transition into retirement. When you sell your business, the profit you make is subject to CGT. While there are exemptions for a portion...

In April we added three new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page. Find out more about our fund, Access EIS, or read about our new portfolio companies below. Monument Therapeutics Monument Therapeutics is a precision neuroscience company that brings digital biomarkers to drug development. Its mission is to use precision medicine to develop effective treatment options for areas of high unmet need in psychiatry and neurology using its pioneering science and digital neuroscience expertise. Its team consists of specialists in the use of validated digital biomarkers to enable better neuroscience drug development. Its proprietary digital biomarkers, and novel formulations of well-characterised CNS-active small molecules, together permit rapid progress in clinical development. Our angel partner in the round has an IRR of 37% and their previous investments include Concr, Carwow...

In March we added two new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page. Find out more about our fund, Access EIS, or read about our new portfolio companies below.iCustoms iCustoms is an AI-powered platform that simplifies customs for cross-border trade. It automates customs procedures with high accuracy at 50% cost, transforming businesses with faster, cheaper and more efficient operations. Our angel partner in the round has an IRR of 67%, and their previous investments include Marshmallow, Railsr and Atom. Total Round: $2,200,000.00 Stage Post-revenue. Visit websiteEl Rayo Tequila El Rayo makes great-tasting tequila that’s designed to mix with tonic. With the help of Maestro Tequilero Oscar Garcia – one of only 250 maestros in the world – El Raoy's tequila uses only the very best, hand-harvested plants distilled into a...

With all eyes on the upcoming election, and with the UK having entered recession at the end of 2023, discussion leading up to today's budget was largely concerned with whether voters were likely to prefer tax cuts or public services more. As it turned out, a number of tax cuts were on the agenda, along with some encouraging changes that are likely to benefit small businesses. We've listed some of them below: A complete reversal of recent changes to sophisticated investor income thresholds following outcry from the tech and investment community, meaning the threshold to qualify as a high-net-worth angel investor will remain at £100,000. Announcement of a plan for HMRC to establish an expert advisory panel to support the administration of R&D reliefs for small businesses. Abolition of non-domicile tax status, which allows foreign nationals living in Britain to avoid paying tax on overseas earnings. Confirmation that the Mansion...

What should paraplanners look for when reviewing venture capital products? Watch the video to learn more about the tax reliefs available through EIS, SEIS and VCT; gain insights into the pros and cons of including the products in your portfolios, and compare and contrast the strengths and weaknesses of each. The Access EIS Fund Our fund co-invests with proven angel investors to build large portfolios of hand-picked companies for our investors. It's a high risk investment, but we're confident that our approach is the smartest on the market. Even better, we can show you the data to prove it. To find out more about how the Access EIS Fund can work for you or your clients. Use the button below to schedule a call with our expert, Tom Britton. Schedule a call with us.

The new tax year will soon be upon us, bringing with it a number of changes to how, and how much, you are taxed. But what are the changes, how do they affect you, and how can investing in EIS help to offset or reduce them? Capital gains tax annual exempt amount What's changing? Capital gains tax is payable whenever you sell an asset for a profit, once those gains surpass the annual exempt amount. The Chancellor's Autumn Statement in 2022 more than halved the annual exempt amount from £12,300 to £6,000. From 6 April 2024 it will halve again to £3,000. What does that mean for me? It means that an ever greater proportion of any capital gain you make will be subject to tax and your overall profit from any disposal of assets will be lower. The assets liable for capital gains tax include most shares, property (excluding...

We recently talked about four important sectors that our network of angel investors expressed a particular interest in for the coming year. In this piece we'll focus on one of these sectors: technology. We'll also be speaking to one of our portfolio companies to get the founder perspective on this sector in an upcoming podcast, so stay tuned for that. Many venture capital investors have a preferred sector or sectors that they are particularly drawn to. In many cases, it's based around the investors' own expertise and experience, or particular characteristics of that sector, such as speed of growth, ability to scale, size of market and so on. While every sector has its advantages and disadvantages, some are particularly sought after for their broad appeal, adaptability and the likelihood of generating returns quickly, along with their implications with regard to positive impact upon social and environmental conditions. Our fund -...

Venture capital comes with a very encouraging selection of benefits for investors who have the capacity to take on a high risk investment. Is the risk worth the reward? Here are some of the benefits so you can make a decision for yourself. Note: this list relates specifically to investment in venture capital via the Enterprise Investment Scheme (EIS), which is open to UK taxpayers. 1. Income tax relief EIS shareholders can claim 30% of the amount invested as income tax relief. This can be applied to the year the shares were issued, or carried back to the following year. 2. Capital gains tax deferral and disposal EIS shareholders can defer a portion of a capital gain equal to the amount invested in EIS, so that no tax becomes due on that gain while they continue to hold EIS shares. There is also no capital gains tax to pay on...

It's a good time to look for investment opportunities that are as tax optimal as possible, particularly for higher-rate taxpayers. But which are the better tax-efficient investments to look at during an expected economic downturn, and why? Read on and we'll look at some possible approaches. Investing in startups? In times of economic slowdown the public markets can quickly become turbulent. For a number of reasons, which we'll look at shortly, this means private investments like startups enjoy a degree of separation. Because they are not actively traded, they are less affected by the fluctuations of the stock market. Investing in startups is still high risk, but startups can often grow, if not flourish, during a recession in ways that larger companies can't. Good startups are built to solve problems. Many small businesses are built to address a problem. In many cases, these problems become more pronounced during periods of...

Today, after two consecutive quarters of negative growth, the UK officially entered a recession. What does this mean for investors? In the US, most venture capital firms have sent out cautionary letters to their investors and portfolio companies warning that we are entering a very lean period and that they should adjust expectations accordingly. We ourselves are hearing from the larger UK VCs who have noticed a decline in valuation at the late-stage rounds. Part of this is because the UK has a big presence of foreign investors at the Series D stage, but also because there is a change in sentiment and indeed, lower expectations of big multiples if the company is acquired or lists on a stock exchange. Seed-stage investors do not expect their companies to list or be acquired in the next 3–5 years and so we haven't yet seen this decline filter down to seed-stage companies....

Our quarterly portfolio performance results are now available! Our 2020 cohort is up by 47%, our 2021 cohort up by 42%, and our 2022 cohort, which is just ramping up, is up by 6%. It's still very early days for our 2023 cohort, so we'll provide an update on this once a little more time has passed. Here are a few of the key performers showing the mix of highs and lows in the Access portfolio across all cohorts. Read on for more details on some of the specific companies. Over the coming months, we'll be speaking to the founders of a selection of the companies shown here, and others in the Access EIS portfolio, about their individual sectors, their expectations for the future, and any insights they might have into attaining and sustaining growth as a small business. Here's a little more on some of the companies from the...

Why is deployment method important? Because it will have an impact on your tax reliefs, the diversification of your portfolio and the value at which your portfolio is constructed. There are two typical deployment models; the evergreen model and the tranche model. There are pros and cons to both and it is important to weigh up what is right for you. The tranche model This is the approach used by most investment managers. They will announce a fundraise and a close date, and any funds and applications received during this time will form part of that particular tranche. Each investor in this tranche will get an identical portfolio of companies. Investment managers will normally look to deploy this within a six month period. They will however usually only begin to deploy this once the tranche ahead of it has been deployed. This can cause a significant delay to deployment, during...

With the potential for high reward and a suite of attractive tax reliefs across income tax, capital gains tax, inheritance tax and more, investing in EIS is already appealing for many. But there are number of reasons that make 2024 a particularly good time to make this the year you start building your venture capital portfolio. 1. Tax free allowances are falling, driving the appeal of tax-efficient investment schemes. The Autumn 2022 Budget saw the capital gains tax allowance more than halved from £12,400 to £6,000 from April 2023, with a further cut to £3,000 set to follow in April 2024. Dividend allowances were also halved, from £2,000 to £1,000, and will halve again in April 2024. These developments, which coincided with an extension of the EIS sunset clause to 2035, have served to make EIS investing more attractive to investors thanks to the array of tax reliefs the scheme...

In January, we added two new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page). Find out more about our fund, Access EIS, or read about our new portfolio companies below. Kinhub Kinhub is a health and wellbeing platform that provides employees and managers with personalised support. It provides curated content and 1:1 sessions with industry-leading experts on topics related to health and wellbeing. Our angel partner in the round has an IRR of 32%, and their previous investments include The Plum Guide, Plentific & Learnerbly. Total Round: (currently withheld). Stage Pre-revenue. Visit website At Last At Last champions a better returns experience for both shoppers and retailers, bringing together decades of experience across scaling consumer products, working with top 100 retailers and building financial infrastructure. Our angel partner in the round...

Towards the end of 2023, we surveyed our network of angel co-investors to find out what they'd be looking to invest in in 2024 (if you'd like to read more about their responses in full, take a look at our article here. The areas they were most interested in were three sectors which easily capture the imagination, and the enthusiasm, of investor and non-investor alike: artificial intelligence (A.I.), life sciences, green and tech. In the coming months we'll be looking into each of these sectors in more detail: recent developments and innovations, their capacity for growth, and of course, their potential to transform the world as we know it. We'll be speaking to the founders of some of our portfolio companies in each of these sectors in a series of webinars, so you can hear more about the frontlines of these industries from the mouths of people actively involved in...

Were you aware that the capital gains tax allowance fell by more than 50% at the start of the current tax year, from £12,400 to £6,000? If you weren't, don't get too comfortable, because it's being cut by a further 50% in April 2024, to £3,000. These changes were announced in the 2022 autumn statement, and since then investors have been busy looking into options around managing these new changes so their impact on gains isn't too severe. What does this mean for investors? It means that a larger portion of any gain you realise on the sale of an asset must be paid as capital gains tax, and that overall, capital gains will be less profitable. Investors who expect significant capital gains tax liability are increasingly looking for tax efficient investment options that offer reliefs around this specific tax. How much is capital gains tax? The amount of capital...

In December we added two startups to the Access EIS Fund portfolio, co-investing alongside one of our angel investors in each case (for more on our super angels and our co-investment model, see our dedicated page). Read on for more about our latest investments. If you would like to receive this update each month, sign up for our newsletter here. Asterias Asterias (formerly Lossbook) is an integrated platform for insured and uninsured losses. It aims to systematise and digitise all loss data at source, and enables seamless collaboration for policyholders, brokers, insurers, adjusters and lawyers. Angel: Our angel partner in the round has an IRR of 33% and their previous investments include Cleo, Funding Circle and Bloom & Wild. Total Round: approx. £500,000. Visit website Different Dog Different Dog cooks different meals for dogs every week and delivers them to customers, with a focus on using ingredients aimed at maintaining...

Tax-free investments There's no such thing as a free lunch, or so the saying goes. However, when it comes to growing your wealth there are a few tax-free investments worth your consideration. From the mainstream to the alternative we've got you covered. Investors be warned, some tax-free investments are more tax-free than others. The most common offer investors tax-free dividends and/or tax free gains.. Others offer everything from the ability to defer paying capital gains tax to shielding the investment from inheritance tax. What are the most common tax-free investments Individual Savings Account (ISA) An ISA is a scheme that offers individuals the ability to have tax-free savings, which can be held in cash, shares and unit trusts. The amount of money that individuals can invest into ISA accounts may vary depending on the current tax year. These accounts are exempt from income tax and capital gains tax on the...

Towards the end of each year we survey our angel investors to get their thoughts and insights into how the year has been, and what they expect to see in the coming year. So to begin, their thoughts on 2023 1. Interest rates and the slow economy dominated the headlines. 2. Follow-on rounds became tougher and the number of flat or down follow-on rounds increased a lot. 3. The number of failures increased. 4. The number of startups seeking first time capital seemed to increase though as one angel put it, "despite the doom and gloom too many founders were trying to raise with inflated expectations and there was a massive increase in the number of 'no hopers' looking for investment." 5. That said, the angels agreed that they've become more thorough in their due diligence and wanted to see founders looking to raise for 24 months instead of in...

There are few things certain in life: death, taxes, and the Access EIS Fund being one of the most active early-stage funds in the country. As 2023 winds down we've taken a look back on the portfolio Access has invested in over the last 12 months and we're delighted to share a look into what the fund has done. The numbers Starting with the big picture, we've completed investment on nearly 40 companies who raised over £60,000,000 combined, with an average funding round size of over £1.5 million. This is the highest average funding round we've seen since launching the fund in 2020. Every company we invested in this year has a primary or secondary impact focus, most of them environmental or social. 43% of the companies we invested in are female-founded, approximately 2.5x the UK average. The portfolio As with every year we've invested in an incredibly diverse portfolio...

What is a high-return investment? It is the goal of every investor to maximise the returns they achieve while minimising risk. High return investments play a role in this strategy as they aim to generate significant returns. The trade-off, they often come with more risk attached. In this article, we cover some of the high-return investments and their associated risks. Your job is to learn and make informed decisions about your portfolio. The common investments targeting high returns Venture Capital Venture Capital (VC) is a form of private equity that invests in early-stage startups with high growth potential. In the UK retail investors can invest in three different types of tax-efficient VC funds. 1. EIS funds An EIS fund (enterprise investment scheme fund) offers investors tax relief for investing in startups. The funds build investors' positions in portfolios of startups ranging from a couple up to 50+. EIS funds generally...

Why consider pension alternatives? While traditional pensions rightfully remain the core of retirement planning, high fees and slow growth compel some investors to explore alternatives. For some, the more traditional ISA, annuity or property fund may suffice. These add a degree of diversification without getting too adventurous. Those open to a touch more risk may look further afield to private equity in the form of venture capital. Though riskier, these uncorrelated investments offer a range of tax reliefs which make them particularly attractive to investors looking for tax efficiency, and the potential for significant returns. Most venture capital investors go through one of three main schemes, the Seed Enterprise Investment Scheme (SEIS), the Enterprise Investment Scheme (EIS, and Venture Capital Trusts (VCTs). Diversifying outside of a traditional pension and building a portfolio of alternative investments can be an excellent way to see a greater rate of growth with fewer caps...

In November we added three startups to the Access portfolio, co-investing alongside one of our angel investors in each case (for more on our super angels and our co-investment model, see our dedicated page). Read on for more about our latest investments. If you would like to receive this update each month, sign up for our newsletter here. Noggin HQ Noggin HQ is on a mission to modernise traditional credit assessments, and increase lending to underserved segments. Traditional credit reference agencies rely on data that many people, especially younger people, don't have, so Noggin has designed a credit score specifically for Gen Z and millenials that makes use of data they do have. Angel: Our angel partner in the round has an IRR of 32% and their previous investments include The Plum Guide, Plentific and Learnerbly. Pre/post revenue: Pre. Total Round: approx. £600,000. Visit website Recomme Recomme is the first...

The recording of our recent Biannual Report webinar for winter 2023 is now available to view. Our latest webinar talked attendees through the performance of the Access EIS Fund, with focuses on individual companies and breaking down the portfolio by year of investment. Download our Biannual Report for winter 2023

Rate freeze and fiscal drag While Jeremy Hunt's Autumn Statement talked a good game about tax cuts, unfortunately, beyond a cut in National Insurance Rates (employees earning between £12,570 and £50,268 will see their contribution cut from 12% to 10% from 6 January), very little has changed and taxes remain at their highest level on record. Indeed, an increasing number of people may actually find themselves paying higher taxes thanks to fiscal drag. What is fiscal drag? This is the process by which people end up paying a larger portion of their income as tax when increases in their income see them 'dragged' into higher tax bands. With National Insurance and income tax bands frozen at their current levels until 2028, instead of rising in line with inflation, it's not surprising that, compared with three years ago, 2.2 million workers now fall into the basic income tax band, while 1.6...

The Autumn Statement Yesterday the chancellor extended the VCT and EIS sunset clause from April 2025 to April 2035. It was a change that was cheered by both sides of the house, with Labour voicing support for the extension. Given that the UK start up market grows at around 25% per annum it is easy to see why they have done this. See our recent article for more on this: The perpetual growth of the UK start up market. This is welcome news for the UKs thriving startup economy. The extension gives early stage companies more certainty in an uncertain environment, it will give startups the support and capital they need to grow and thrive. Since the inception of EIS and VCTs in the 1990s they have grown in popularity and are forecasted to continue to grow. With generous tax advantages and opportunities for high growth it is easy to...

In October we added four startups to the Access portfolio, co-investing alongside one of our angel investors in each case (for more on our super angels and our co-investment model, see our dedicated page). Read on for more about our latest investments. If you would like to receive this update each month, sign up for our newsletter here. Photocert Photocert provides companies with tools to enhance their customer experience by automating processes that rely on images & videos while protecting them from the possibility of fraud using proprietary authentication technology. Angel: Our angel partner in the round has an IRR of 33% and their previous investments include Cleo, Funding Circle and Bloom & Wild Pre/post revenue: Post. Total Round: approx. £700,000. Visit website Asan Asan – which means 'worry free' in Persian, Hindi and Urdu – is a social venture with a mission to eradicate period poverty across the world...

What is an uncorrelated investment? An uncorrelated investment is one that has a low or negative correlation to traditional asset classes including stocks and bonds. Uncorrelated assets move independently of traditional asset classes and, when included in a broader portfolio, can lower portfolio volatility while improving risk-adjusted returns. Why do people invest in uncorrelated assets? Investing in uncorrelated assets is a method of diversifying a portfolio outside of holdings that fluctuate with the market. Where the market can be affected by anything from natural disaster to an incendiary social media post, uncorrelated assets enjoy something of a buffer from market volatility. What are the most common uncorrelated assets? 1. Venture capital Venture capital involves investing in early-stage companies with high growth potential. These companies are typically startups though some VC firms invest at later stages of a companies development. In the UK EIS funds, SEIS funds, and VCTs are common...

In its most recent review, the Institute for Fiscal Studies (IFS) revealed that 9 out of 10 middle-earning private sector workers do not save the recommended 15% of their salary for retirement. Which part of that grouping do you fall into, how much does it matter, and what practical steps can you take towards retirement planning instead of harbouring the worry? If you're one of the minority that save the proportion of your salary that the IFS recommend, take a minute to congratulate yourself. This article is useful for you too, because planning is as much about setting your retirement intentions and goals and understanding the best strategies and investment approaches to achieve them as it is about making sure you're putting enough money into your pension. If you're among the majority of people that do not save 15% of your salary, this article should help you understand why preparation...

UK startups deliver consistent growth of 25-31% annually, but most VC funds do not hit these numbers. We created the first ever index of the UK startup market to investigate how investors can gain access to the highest-growth startups and optimise their growth potential. If you don't have time to read the full article, we'll be hosting a webinar on this subject on 3 November The UK is known as the startup capital of Europe with many UK startups going on to achieve unicorn status (currently, there are 51 UK unicorns, according to Sifted). Year on year, UK startups consistently deliver growth, but for investors the challenge has always been how to gain access to this competitive and thriving market. In this article we’ve done a market first - we created an index of all startups that raised capital from 2011-2015 and tracked their valuations to 2022. This is particularly...

In September we added five startups to the Access portfolio, co-investing alongside one of our angel investors in each case (for more on our super angels and our co-investment model, see our dedicated page). Read on for more about our latest investments. If you would like to receive this update each month, sign up for our newsletter here. Freja Freja is a husband and wife team that produces 100% natural Norwegian bone broth from pasture-fed cows and free-range chickens that are antibiotic, hormone and GMO free. This is the ultimate cupboard-friendly, responsibly sourced and nutrition-packed fast food. Angel: Our angel partner in the round has previously invested in Carwow, CausaLens, and Passfort. Pre/post revenue: Post. Total Round: approx. £1,100,000 Visit website Bowimi Bowimi's software helps the best challenger F&B brands capture and manage their field sales data faster and more effectively than ever before. Angel: Our angel partner in the...

In August we added two startups to the Access portfolio, co-investing alongside one of our angel investors in each case (for more on our super angels and our co-investment model, see our dedicated page). Read on for more about our latest investments. If you would like to receive this update each month, sign up for our newsletter here. Pencil Biosciences Pencil Biosciences is developing an innovative gene editing technology that can have an impact across a range of applications, including new therapeutic options for patients with rare diseases. Angel: Our angel partner in the round has a weighted IRR of 34% and has previously invested in companies including Celixir, Sense Biodetection and Bank of Telecom. Total Round: approx. £700,000 Visit website Name currently witheld This company has created a network for employee referrals. They've asked us not to give any further details until their own press goes live. Angel: Our...

“The world's first payment solution designed exclusively for e-commerce, marketers and creators.” The Company Incard is a payment solution designed exclusively for e-commerce, entrepreneurs, dropshippers and influencers. It facilitates faster international payments, allows the issue of virtual cards for employees and integrates with digital platforms. It also comes with built-in accounting software as part of the Incard app. This fintech startup was founded in 2020 by Soraya Tribouillois, Matteo Martino, and Theo Cesarini with the aim of financial management, business performance and lifestyle to help ambitious entrepreneurs to grow and succeed. Insights from Incard Co-Founder, Soraya Tribouillois. SyndicateRoom (SR): How are you feeling about the progress incard has made so far, and what are your plans for the future? Soraya: We are delighted with our recent progress and the initial results of our beta launch in the UK. Our thesis asserts that e-commerce and online businesses have unique needs and...

Congratulations! You’ve just sold, or are about to sell, a second home at a tidy profit. Now all you need to do is pay the capital gains tax (CGT) on it which, if you are a higher rate tax payer, stands at a hefty 28%. For context, a house sold at a £50,000 profit would see a capital gains tax bill of £14,000 which would need to be paid within 60 days of the sale completion. Surely there’s got to be a way you can reduce some, or all of that bill? Well, investing in EIS offers a number of options around capital gains tax that can be of use in this situation, the main one being the option to defer a gain for as long as you hold EIS shares (this can be indefinitely, if you don't dispose of them). What's more, you can defer gains of any size,...

We all know that investing in startups is risky. For this reason, it's important to create portfolios, spend a lot of time conducting detailed due diligence before investing, snd, of course, we should only invest an amount we can afford to lose. But just how much one can afford to lose when they take into account all of the EIS loss reliefs is a subject few delve into. While many investors are aware of the generous 30% income tax relief that the Enterprise Investment Scheme (commonly referred to as EIS) offers on investments, there is less noise made about the even more generous loss relief EIS affords. In fact, for 45% taxpayers this loss relief can amount to more in tax relief than the initial 30% income tax relief they receive. Combined, the initial income tax relief and loss relief cover a large portion of an EIS eligible investment should...

Figures from HMRC published in April show that receipts from Inheritance Tax (IHT) have increased by £1bn over the past twelve months with speculation that inflated house values play a key role in this upswing. For those unaware, inheritance tax is effectively an estate tax charged by HMRC when someone passes away. It is pretty steep: 40% on the amount of an individual’s estate exceeding £325,000 (though this increases by a further £175,000 when the primary residence is handed down, or sold, and it goes to the children or grandchildren). Once considered a ‘death tax’ that only affected the wealthy, the number of individuals paying IHT has increased and is projected to increase further over the next five years. This in turn has led to an increase in the demand for inheritance tax relief, and led an increasing number of people to seek out financial advisers to help them with...

In July we added one new startup to the Access portfolio, co-investing alongside one of our angel investors (for more on our super angels and our co-investment model, see our dedicated page). Read on for more about our latest investments. If you would like to receive this update each month, sign up for our newsletter here. Isosconnect Isosconnect have created a platform that optimises fundamental clinical processes, caters for safe online consultations and offers the opportunity for peer-to-peer work between modalities and specialties to create a digital home for independent health and wellbeing practitioners. Pre/post revenue: Post-revenue. Angel: Our angel partner in the round has a weighted IRR of 25% and has invested in Current Health, Huma and ClearBank, amongst others. Total Round: approx. £800,000 Visit website If you’re interested in the Access EIS Fund and would like to find out the benefits of investing, you can call us on...

Calling artificial intelligence a hot topic these days would be a serious understatement. With Open AI’s ChatGPT wowing and terrifying users in equal measure and transforming the debate around the potential of AI-driven tech, not to mention the debate around sentience, consciousness, and the potential implications of AI for society, more and more investors are looking to keep up with the latest innovations, and understand the best ways to invest in AI. It has already been employed by a growing number of businesses looking for new approaches who are able to capitalise on the advances made in the sector in recent years. In April 2023, UK Prime Minister Rishi Sunak announced £100 million in funding for a Foundational Model Taskforce. This taskforce will be responsible for accelerating the UK’s capability in rapidly-emerging types of artificial intelligence, while working to establish safety and reliability. This is the largest amount ever committed...

The Access EIS Fund is unusual among VC funds. Where many funds rely on a fund manager to make EIS investment decisions, Access EIS employs a co-investment approach. It invests in startups alongside carefully selected angel investors who have demonstrated their ability to build profitable portfolios and have well-developed networks, giving them access to some of the most promising new startups around. Then it builds investors large portfolios of 50 companies in order to optimise return potential. In 2022, it was the UK’s second most active fund, according to Beauhurst. Why this approach? Because of the data. The Access EIS model was developed after years spent analysing UK startup market data and running simulations to figure out the ideal fund structure for growth. You can read more about the results of that research and the principles that underpin the model in the fund’s foundational white paper. If you’d like to...

In June, we added three new startups to the Access portfolio, co-investing alongside angel investors in each case (for more on our super angels and our co-investment model, see our dedicated page). Read on for more about our latest investments. If you would like to receive this update each month, sign up for our newsletter here. Anansi Anansi has developed a better way for merchants to insure goods in transit that brings a frequently frustrating system up to 21st century standards, with digitised processes and automated, hassle-free claims forming the basis for a range of insurance products. Pre/post revenue: Post-revenue. Angel: Our angel partner in the round has a weighted IRR of 67% and has invested in Marshmallow, Railsr and Atom, amongst others. Total Round: approx. £1,000,000 Thymia Thymia's ethical A.I. models analyse voice, movement and behaviour to provide clinical grade insights into mental health and wellbeing. At the pre-clinical...

Say goodbye to that allowance Feel that? That was the feeling of the annual capital gains exempt amount reducing by more than half, and if you didn’t feel it yourself, your accountant certainly did. As of April 2023, the annual capital gains tax exempt amount has been reduced from £12,300 to £6,000. This means that for any gain you realise – such as the profit made on selling a second home, or perhaps more importantly for investors, on selling stocks or shares – you will have to pay tax on everything over £6,000 of it. Quick example: Bought shares at £10,000, sold them at £20,000 -> £10,000 profit, £6,000 exempt, capital gains tax is payable on £4,000. If you’re already adjusted to this new reality, don’t get too comfortable. In April 2024, the exempt amount will be halved again to £3,000. What should investors be doing? For anyone who wasn’t...

In May, we added two new startups to the Access portfolio, co-investing alongside angel investors in each case (for more on our super angels and our co-investment model, see our dedicated page). Read on for more about our latest investments. If you would like to receive this update each month, sign up for our newsletter here. Renewabl Renewabl is a platform that allows companies to quickly and efficiently meet their decarbonisation targets by matching clean renewable energy certificates directly from real wind and solar farms on a 24/7 basis using blockchain. Pre/post revenue: Pre-revenue. Angel: Our angel partner in the round has a weighted IRR of 32% and has invested in Bulb, Mrs Wordsmith, and Rated People, amongst others. Total Round: approx. £2,500,000. Visit website Mettle Mettle (formerly Head Shed) is a science-backed mental fitness app for men to aid happier, healthier and more successful lives for the good of...

How much of your portfolio should be in venture capital? To many investors, there are two key obstacles to investing in venture capital. The first of these is the risk, and the second is a sense that minimum investments are too high to be accessible. In this article we’ll look at how you can get the balance right between venture capital and other types of investment so that you can incorporate VC into a balanced portfolio and benefit from an increased return potential while keeping the risk profile manageable. We’ll also show that there are funds that make investment much more accessible than others. First we will take a look at the asset class, its risks compared with other assets, and how including it in a broader portfolio could increase returns of an adjusted portfolio while decreasing overall portfolio risk. The undeniable risk of venture capital For those unaware, investing...

Choice is good, but who’s in the pool? When investing in startups, deal access and selection is very important. Crowdfunding brings the luxury of choice and can give investors the satisfaction of handpicking their own investments to build a portfolio of their design. But many investors forget that the crowdfunding selection pool is already limited by the medium itself. Crowdfunding doesn't necessarily give you access to the best deals around, only to those available via crowdfunding. Which are the good, promising, high traction companies that actually want to raise via crowdfunding? In most cases, it’s the ones that have a B2C proposition who can align their fundraising with their marketing, and simultaneously demonstrate their consumer appeal while attracting investors. There will be successes that fit the bill. But without that carrot, crowdfunding to raise capital is inefficient, a huge amount of work, and actually quite expensive. So most types of...

In April we added a new startup to the Access EIS portfolio, investing alongside a super angel (for more on our super angels, and our co-investment model, see our dedicated page. Find out more about our fund, Access EIS, or read about our new portfolio company below. Edozo Edozo makes commercial property research easier for valuers, agents, investors and built-environment professionals. It combines the digital mapping, property data and tools needed to research and value commercial property and offers OS mapping, thousands of transaction comparables and occupier plans for high street retail, out-of-town retail, leisure and industrial. Angel: Our angel partner in the round has an IRR of 44% and their previous investments include Gigaclear, Wejo & Zzoomm. Total Round: approx. £2,000,000. Visit website If you’re interested in the Access EIS Fund and would like to find out the benefits of investing you can call us on 01223 478 558...

In March we added seven new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page). Find out more about our fund, Access EIS, or read about our new portfolio companies below. My Pocket Skill MyPocketSkill creates earning opportunities for young people by connecting them with households and businesses to complete paid tasks such as tutoring, social media management, music coaching, digital design and other digital tasks. In the process it delivers short financial education videos to nudge teenagers towards better financial skills and behaviours. Angel: Our angel partner in the round has a CAGR of 34% and their previous investments include Huboo and Perkbox. Total Round: approx. £1,200,000. Visit website Immersive Fox Immersive Fox uses AI to generate custom videos in minutes and auto-translate into 50+ languages in seconds, letting businesses create...

A lot of investors are attracted to EIS by the combination of tax reliefs and the chance for the kind of spectacular returns that only early-stage investments in new businesses – potentially the disruptive, world-altering unicorns of the future – can offer. But how should investors go about finding the correct companies or funds to invest in; what makes any given EIS investment a good investment, and which investments should you avoid? (Listen to our podcast with Brian Moretta on reviewing and choosing EIS funds). The constant - tax breaks All EIS investments offer the same set of tax reliefs, so outside of confirming whether a company qualifies for EIS, these shouldn’t form part of your decision making process when choosing an investment. The tax reliefs EIS investments offer are: Income tax relief. 30% of your investment can be claimed against your income tax, either for the year your shares...

In March we added seven new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page). Find out more about our fund, Access EIS, or read about our new portfolio companies below. My Pocket Skill MyPocketSkill creates earning opportunities for young people by connecting them with households and businesses to complete paid tasks such as tutoring, social media management, music coaching, digital design and other digital tasks. In the process it delivers short financial education videos to nudge teenagers towards better financial skills and behaviours. Angel: Our angel partner in the round has a CAGR of 34% and their previous investments include Huboo and Perkbox. Total Round: approx. £1,200,000. Visit website Immersive Fox Immersive Fox uses AI to generate custom videos in minutes and auto-translate into 50+ languages in seconds, letting businesses create...

If there was ever a time to consider a shakeup of your investment portfolio, this is it. The tax changes coming into force at the end of the 2022-23 financial year – in just over a week’s time – mean that you should plan your investments for the coming tax year carefully, taking into account how they might affect your current investments and assets, and what options you have to mitigate any increases in your tax liability. But what exactly are we dealing with here, and how can EIS investing potentially soften the blow? Income tax thresholds What’s changing? The additional rate tax threshold is falling from £150,000 to £125,140. What does that mean for me? It means that if your income is greater than £125,140 annually, you will now pay the 45% additional rate of income tax instead of the 40% higher rate of income tax. For example, if...

In February we added two new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page. Find out more about our fund, Access EIS, or read about our new portfolio companies below. Seep Seep produces 100% plastic free cleaning products made from sustainable and renewable materials, which are compostable, or fully biodegradable. They are free from the toxins that usually feature in plastic-based products, and are sleek, stylish and effective. Our angel partner in the round has a weighted IRR of 32% and has invested in Bulb, Mrs Wordsmith, and Rated People, amongst others. Total Round: approx. £500,000. Visit website Neat Neat develops a range of cleaning products with a focus on sustainable packaging and reusable bottles. They are free from single-use plastic, instead using aluminium to create long lasting containers that can...

We believe startups should always be considered by investors looking to build a well-balanced portfolio. This is because they show limited correlation to other asset classes and can provide good returns when investing is done smartly. In the UK we’re lucky because startup investing also brings very attractive tax benefits that have been put in place to encourage investment in higher risk early-stage businesses that drive much of the UK’s economic growth and job creation. However, it’s not always clear how to go about investing in startups. In this article I want to look a bit more closely at investing in SEIS rounds versus EIS rounds. How do EIS and SEIS differ? EIS and SEIS both offer a way for investors to reduce their tax bill, but there are key differences between the two schemes. SEIS is designed for very early startups doing their first funding round and offers a...

Between December and January, we added three new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page). Find out more about our fund, Access EIS, or read about our new portfolio companies below. Incard Incard is a payment solution designed exclusively for e-commerce, entrepreneurs, dropshippers and influencers. It facilitates faster international payments, allows the issue of virtual cards for employees and integrates with digital platforms. It also comes with built-in accounting software as part of the Incard app. Our angel partner in the round has an IRR of 44% and has invested into Hadean, Converge and AimBrain among others. Total Round: approx.£750,000. Stage Pre-revenue. Visit website Five Alarm Bio Five Alarm Bio develops anti-ageing therapeutics designed to help extend the lifecycle of cells and to avoid illnesses associated with ageing. Our angel...

In our latest episode of Angel Insights, we spoke to founder, machine learning researcher and angel investor Zehan Wang. After completing his PhD, Zehan Wang began his career as Co-Founder and CTO at Magic Pony Technology, which pioneered the use of neural networks for video enhancement, prediction and compression. After just two years of operation, it was acquired by Twitter for an estimated $150m in 2016. Zehan continued his career at Twitter as Head of Cortex Applied Research, as well as developing his angel investing portfolio. You can listen to the full conversation here: Or for a few key insights, read on: 1: Founders, take advantage of external, experienced perspectives to ensure you’re focused on the right things. Zehan: “Almost every company I have worked with is somewhat unique in what they're doing. One thing that I have to remind people, particularly first time founders, is that there is no...

At one time, if you were to speak any angel investor in the UK, or someone who had put money into an EIS fund, within a few minutes of the conversation you’d invariably have covered the three big Rs that come as part and parcel of backing a startup in the UK: the Risk, the tax Relief, and the potential Returns. We’ve talked at length on these in the past, uncovering that the UK startup index grows on average at 25% per year, that there is minimal correlation between it and the public markets (-.02 to be exact), and that nearly £2bn is invested through EIS each year, creating a little over £500m in tax relief UK-wide. However, there is more consider when trying to decide if it’s worth steering some of your tax efficient portfolio away from things like ISAs and pensions and making an investment into an EIS...

Claiming EIS tax relief is an extremely straightforward process that boils down to attaching the details of your EIS-qualifying investments to your tax return and submitting it to HMRC. Investors claim tax relief when they complete their annual tax return, giving details of each of their EIS qualifying investments, then submitting this to HMRC. You'll need to provide HMRC with the following information: 1. The names of the companies in which you’ve invested. 2. The amounts, per company, for which you’re claiming relief. 3. The share issue date (often different from the date you invested). 4. The HMRC office authorising the issue of the EIS3 certificate and its reference (as shown on the certificate). This information appears on the EIS3 certificates that the companies, or fund(s) on behalf of the companies, will issue to you as part of the investment process. These certificates are typically issued three to four months...

The power law is not normal SyndicateRoom’s most recent white paper analysed UK startup data and found that it adheres to a power law distribution. What does this mean, and how can it inform our approach to investing in startups? A power law distribution is very different to a normal distribution (also called Gaussian or bell curve). Height is normally distributed with most values near the average height. We would be very surprised to see someone who is ten feet tall. In power law systems, the majority of values sit at one end of the spectrum and there is a long tail of outlier values extending away indefinitely (yes, indefinitely). Small outcomes are most likely and large outcomes are less likely. A good example here is wealth distribution. We know that 83% of the world population has less than $100k in wealth. There is a long tail of individuals with...

As one year ends and another begins, we asked our super angels how 2022 was for them, and what their expectations were for 2023. Here are some of the investing trends that emerged from our survey, along with some excellent words of advice for investors and entrepreneurs. Experiences in 2022. A year of two halves. When asked what defined 2022, many of our angels reported that it was difficult, particularly in the second half of the year, with some observing a slowing and tightening of available capital from the second quarter, and a general sense of nervousness among investors. Some observed difficulty around follow on funding, pressure on valuations, and paralysis in later stage rounds even while seed activity continued. However, others reported a lot of opportunity, liquidity, and a cautious sense of optimism, with some pointing to likely exits expected in the near future and growing opportunities around carbon-reduction....

In November, SyndicateRoom added two new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page). Find out more about our fund, Access EIS, or read about our new portfolio companies below. Untap Ltd Untap scientifically monitors community health including COVID-19 prevalence in offices, schools, hospitals, care homes, colleges, manufacturing, training facilities and more. Our angel partner in the round has had a flat compound annual growth rate of 96% and has invested into Hopin, Chattermill and Screenburn among others. Total Round: approx. £1,500,000. Stage Pre-revenue. Visit website Name witheld This company works to harness the content creation industry and give more back to creators. We will be able to disclose full details of their name and product in the New Year. The compound average growth rate of our angel partner in the...

Most Venture Capital funds underperform For investors with sufficient appetite for risk, investing in early-stage businesses through the Enterprise Investment Scheme (EIS), SEIS, or a VCT is often an attractive prospect. In each case, these investment schemes offer extremely generous tax incentives and/or deferral options which grant investors flexibility over managing capital gains tax, inheritance tax, and the ability to offset any losses from failed investments against their tax bill. On top of this, in the case of EIS particularly, annual investment limits are very high, meaning that once other investment vehicles are maxed out, these investments provide an excellent option to get tax relief on significant sums (£1m – £2m per year depending on company type). But many funds operate on a paradox. On one hand, they are legally obligated to inform investors that there is no way to know whether the startups they invest in will succeed or...

The budget and beyond Much of the recent news from the UK points towards lower growth expectations for the British economy. On the positive side, the latest US inflation numbers have seen the pound rebound and asset prices soar, though how indicative this is of long term trends remains to be seen. These are difficult times for startups too, as they have to sell products to consumers facing the cost of living crisis and corporations that are trimming their budgets. They also have to contend with venture capital firms holding back on new investments and focusing on their portfolios. You might be wondering what the argument is for investing in EIS right now? I’d boil it down to two main points. Firstly, the tax breaks are guaranteed (as long as the investment is held for three years). Investors can claim 30% income tax relief as a start, capital gains deferral...

In October, SyndicateRoom added four new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page). Find out more about our fund, Access EIS, or read about our new portfolio companies below. Search Smartly SearchSmartly is an AI-led, hyper-personalised property marketplace, helping users find the right home at the right time in one seamless transaction. Our angel partner in the round has a weighted IRR of 126% and their investments include Adzuna, Tandem and Vouched FOr. Total Round: approx. £400,000. Visit website Lab 1 Lab 1 provides data analytical services for niche online datasets such as emerging social media and the dark web, aimed at providing businesses with cybersecurity and risk analysis services. Our angel partner in the round has a weighted of 53% and their investments include Cleo, Weaver and Zeti. Total...

Addie Pinkster is the Founder and Chief Executive of Adelpha, a female-led corporate financial advisor and leading investment network, that specialises in high-quality, fast-growth, UK-focused companies. Prior to that, she spent 15 years in investment banking, most recently as Head of Hedge Fund Strategy at Citi. She is also a NED, and a growth & tech investor. SyndicateRoom Co-Founder, Tom Britton, spoke to Addie about her experiences in finance, what matters to her when it comes to choosing companies for investment, and what investors should consider before deciding to invest. We highly recommend listening to the full conversation Or, for some rapid insights, here are three key takeaways from the conversation: 1. When it comes to pitching, choose realism over posturing, facts over exaggerations, show that you are an effective team that can execute, and make sure you have a realistic grasp of the numbers. Addie: “It needs to be...

What are the best UK tax saving investments? Whether it's to reduce your income tax bill, offset capital gains, or invest for future tax free earnings, there are many different tax saving investment options available to UK taxpayers. Below we’ll look at everything from the traditional mainstream investment vehicles through to the more alternative options and everything in between. The different types of tax relief Income tax relief EIS, SEIS, and VCTs offer investors a reduction in the income tax bill they owe HMRC. The rate of reduction ranges from 30% for EIS & VCT, up to 50% for SEIS Pensions also reduce the income tax you pay as your pension contributions, up to a limit are taken from your salary before tax, therefore reducing the income on which you pay tax. Capital gains tax relief ISAs, EIS and SEIS, do not incur taxes on the gains made by those...

In September, SyndicateRoom added four new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our [dedicated page](/invest/angel-investors). Find out more about our fund, [Access EIS](/invest), or read about our new portfolio companies below. ### SilverRay SilverRay has developed a new detector technology based on a low cost semiconductor ink that can be coated on arbitrarily shaped surfaces over large areas. This new generation of detectors can be used in many applications, such as dose evaluation during cancer therapy, portable security screening, and medical imaging in the field, among others. Our angel partner in the round has a weighted IRR of 77% and has invested in Ieso Digial Health, Arachnys and Audio Analytics. **Total Round:** approx. £800,000. [Visit website](https://silver-ray.co/index.html) ### Luna Luna's app provides health and wellbeing information to teenagers, from skincare to sexuality, mental...

There are over 150,000 Google searches per month related to income tax alone. So it’s no surprise that “how to reduce your income tax” is near the top of the follow-on questions. Most finance gurus responding to the topic cover the basics such as ensuring your tax code is correct (it probably is) and the importance of putting money into your pension. These are great, but the gurus play it safe and often overlook the alternative investments available for more experienced investors who may have already hit their annual limits, or are looking for more significant tax reliefs. Chief among these is the [Enterprise Investment Scheme](/EIS), commonly known as EIS. ## What is EIS? The Enterprise Investment Scheme is just one of the venture capital schemes created by the government to incentivise individuals to invest in early stage companies that are not listed on a recognised stock exchange. Individuals can...

In 2010 I entered the world of Management Consulting. I loved learning how large businesses worked. Yet, I grew more and more fascinated with technology and entrepreneurship. During those days, I owned a Blackberry phone, I remember it as it was cool back then. I also remember when a good friend of mine messaged me on BB Messenger to alert me about an opportunity. This may have been the first startup investment opportunity I had received. The startup operated across Africa, a continent close to my heart as I originate from there. I dived right into the opportunity and invested. Six months later the startup had gone into administration. The startup suffered from working capital issues and ran out of money. There and then, I lost any chance of a return on my investment. So what went so wrong when it all seemed so right? ## Common mistakes new angel...

In August, SyndicateRoom added four new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our [dedicated page](/invest/angel-investors). Find out more about our fund, [Access EIS](/invest), or read about our new portfolio companies below. ### Wild Hydrogen Wild Hydrogen's carbon negative process converts organic waste into clear hydrogen, while capturing and storing carbon dioxide. Our angel partner in the round has a weighted IRR of 32% and has invested in Acacia Pharma, Arecor and Stemnovate. **Total Round:** approx. £1,000,000. [Visit website](https://www.wildhydrogen.com/) ### Syndi Syndi provides the digital infrastructure to offer personalised and effective digital health support within organisations. Our angel partner in the round has a weighted IRR of 90% and has invested in Nutmeg, Purple Bricks, and Second Home, among others. **Total Round:** approx. £440,000. **Stage:** Post-revenue. [Visit website](https://www.syndi.health/) ### Herd Herd invites users...

In July, SyndicateRoom added two new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our [dedicated page](/invest/angel-investors). Find out more about our fund, [Access EIS](/invest), or read about our new portfolio companies below. ### Toastie Toastie aims to create a deeper connection between children and the environment, with a view to promoting positive mental health and wellbeing in future generations coupled with a lifelong desire to nurture and protect our planet. Our angel partner in the round has a flat average CAGR of 29% and has invested in Peanut, Zen Education, and Near St, to name a few. **Total Round:** approx. £400,000. **Stage:** Post-revenue. [Visit website](https://www.toastiekids.com/) ### Thalamos Thalamos joins up admission, treatment and discharge care pathways to improve patient outcomes in mental healthcare. Our angel partner in the round has a weighted IRR...

Andy Ayim, MBE, is the founder of [The Angel Investing School](http://www.ahvc.school/) and consults organisations on how to build product teams to create products customers love using his Product Playbooks. He has worked in a range of product roles in companies such as Investec and WorldFirst, acquired by Ant Financial for $700m, and has been both entrepreneur in residence and venture partner for a number of firms. SyndicateRoom Co-Founder, Tom Britton, spoke to Andy about his experiences as a founder and angel investor, about what matters most to him, why he does what he does, and crucial lessons he’s learned along the way. We highly recommend listening to the [full conversation](https://anchor.fm/angel-insights/episodes/Andy-Ayim-MBE-chats-Angel-Investing-and-Purpose-e1ijd9f) But if you’re looking for some fast wisdom, here are the three main takeaways. ### 1. Investors should be an extension of the team. **Andy:** “I think most of the founders secretly try their hand at a few things beforehand....

In June, SyndicateRoom added six new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our [dedicated page](/invest/angel-investors)). Find out more about our fund, [Access EIS](/invest), or read about our new portfolio companies below. ### Inhabit From the breakdown of Operational Carbon Footprint to major emissions, Inhabit helps businesses accurately measure their climate impact then builds them a customised reduction plan to meet their goals. Its tool, the Active Climate Toolkit, allows users to set targets, plan scenarios, and prioritise actions, then produce and publish reports and policy documents. It emphasises actionable plans that focus on the most important things first, and provides credible offsetting projects where reductions aren't possible. Our angel partner in the round has a weighted IRR of 47% and has invested in Zynstra, Magic Pony and Flyt, to name a few....

# Sook – up 342% ### “Affordable and adaptable space for any business”. ### The company Sook provides a 21st century solution to the need for space for commercial purposes, but also for spaces to host events, community initiatives, charity and awareness events, and much more. To this end it facilitates flexible design, creation and short-term use of spaces in some of the UKs busiest commercial centres, allowing customers to book as much or as little time in a space as they need. It allows businesses and organisations to choose and design their space in advance, making use of customisable digital displays for video branding and messaging in-store, and offers modular fit out options to set up the space as needed, from hanging rails to furniture and shelving. Currently, Sook has spaces available across the UK, from London to Edinburgh, Cambridge and Newcastle, with spaces opening soon in Leeds, Birmingham...

In May, SyndicateRoom added three new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our [dedicated page](/invest/angel-investors)). Find out more about our fund, [Access EIS](/invest), or read about our new portfolio companies below. ### The Restory The Restory provides restoration, cleaning and repair services for luxury goods, from shoes to handbags and clothing. Its team of specialists and artisans work to devise solutions using the most up to date methods, and provide training to the next generation of master restorers. Our angel partner in the round has a weighted IRR of 90% and has invested in Nutmeg, Purple Bricks, and Second Home, among others **Total Round:** approx. £1,500,000. **Stage:** Pre-revenue. [Visit website](https://www.the-restory.com/) ### Sans Matin Sans Matin creates stylish, versatile footwear designed to work in every environment, formal or otherwise. Ethically manufactured – each...

Earlier this month, [HMRC published its annual EIS data](https://www.gov.uk/government/statistics/enterprise-investment-scheme-seed-enterprise-investment-scheme-and-social-investment-tax-relief-may-2022) and we finally got a look at how EIS fundraising changed in 2020. The data is split up by tax year so we can review it it from the first days of the global spread COVID, which was declared a global pandemic by the World Health Organisation on 11 March, 2020 If you’re not familiar with the Enterprise Investment Scheme – EIS – we cover it in detail on [our website](/eis). The important thing to know for this article is that it is a key source of early stage financing for UK companies. EIS funding goes primarily to seed and series A startups, and therefore it is an important bellwether for company formation and financing. Almost all early stage startups in the UK that raise equity raise via EIS (or the earlier-stage scheme, SEIS) and although there is a limit on...

What are tax-efficient investments?Tax-efficient investments give investors tax relief on investments in qualifying companies or investment vehicles. Many UK government-approved schemes offer investors tax relief. These reliefs range from capital gains tax (CGT) to loss releif and inheritance tax relief. As with all investments, there are trade-offs when weighing up the pros and cons of each. Two rules to keep in mind when considering these, or any type of investment: First, if it sounds too good to be true, it probably is. We’ll only be looking at government-approved schemes in our review. Second, the more tax relief on offer, the riskier the investment class is likely to be. We’ll get into this later when we talk about the alternative investments that offer tax relief. Below we’ll take you through the HMRC-approved tax-efficient vehicles and the various reliefs they offer. While you can’t avoid paying tax entirely, you can reduce the...

In late March and April, SyndicateRoom added eight new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our [dedicated page](/invest/angel-investors)). Find out more about our fund, [Access EIS](/invest), or read about our new portfolio companies below. ### Tom Savano. Tom Savano is on a mission to bring the world's most beautiful travel-inspired cocktails to anyone, having developed and launched a multi award-winning collection of super premium cocktails that are ready to enjoy with just the pop of a cork as if you were in the world's best bars. It currently has listings in John Lewis, CinqueCento Pizzeria and Fenwicks. **Our angel partner in the round has a weighted IRR of 31% and has invested into Rapha, Double Dutch, and Direct ID, to name a few.** **Total Round:** approx. £500,000. **Stage:** Post-revenue. [Visit website](https://tomsavano.com/) ###...

# StarStock - up 73% ### StarStock is a platform that allows licensees to order food and drinks stock directly from the brands that create them. ### In brief - 120+ major brands on-boarded, including Diageo, ABI, Asahi, Coca-Cola, Britvic, Fever Tree, & Bacardi - 2000+ registered on-trade customers - Exclusive commercial relationship with Morrisons selling >1,800 products via StarStock - Targeting >£35m in revenue by YE2024 - Strong moat through data and tech in a low-tech industry with incumbents struggling to compete due to legacy operating systems and inflexible supply chains - Live discussions are in play with StarStock’s global logistics partner, who are looking to replicate this model worldwide, starting in key markets in Europe - Strong ESG credentials, including a system to take multiple trucks off the road as the company scales. ### The company StarStock is a B2B marketplace platform which enables licensed venues to order...

# Porotech - up 250% ### In brief - Porotech produces Micro-LED products based on proprietary technology. - Created world’s first microdisplay based on native red indium gallium nitride (InGaN). - Partnership with Jade Bird Display (JBD)in China, a leader in micro-LED display technology. - In February 2022 it secured $20m Series A funding. ### The company Porotech’s PoroGaNTM semiconductor device solutions offer an entirely new platform for semiconductor devices to be built upon, delivering transformative properties in a single, fully scalable step. The technology is revolutionising the next-generation Micro-LED display industry, while other applications include lasers, power electronics, quantum computing and communication. MicroLED is set to become the ultimate display technology ideally suited for the next generation of AR/MR near-eye applications, wearables and many other consumer electronics devices. ### The numbers We co-invested in Porotech alongside a super angel with a weighted IRR of 32%. Some of their previous...

# Solascure - up 66% ### In brief - SolasCure has initiated its Phase 2a trial in the US, UK and Hungary and has treated its first patient. - Awarded best-in-laboratory-science poster at the Symposium on Advanced Wound Care (Phoenix, AZ) in April 2022. - Selected as one of Europe’s top biotech start-ups in the semi-finals of the EIT Health Catapult competition in December 2021. - Began clinical trials in October 2021. - Series A funding round of £15 million completed in January 2021 - Selected for URGO Mentorship Program in 2019. ### The company Solascure are working to revolutionise wound care. Its proprietary technology leverages biomimicry and evidence-based medicine to develop treatments for patients with chronic wounds. Its product, Aurase® Wound Gel, is a hydrogel containing an enzyme – isolated and cloned from medical maggots – being developed to find a solution to inadequate debridement procedures. ### The numbers...

Last year we managed two IPO from investments made in 2016. This was quite exciting as they were the first assets under our management to go through the process. The first IPO was on TSX Venture Exchange in Canada and the company listed at a share price 35X the original share price our investors invested at. The second was on the prodigious Nasdaq at a £45m valuation (relatively low compared to other big name listings), after our investors had invested at £8m (although some were diluted since 2016 and they did not see the full multiple). Suffice to say, there was a lot of pressure to transfer the shares to the underlying shareholders and let them trade the shares as they saw fit. We run a nominee in-house. The nominee holds all the shares in the underlying companies on behalf of our investors. Our role during the IPO process is...

In February and March, SyndicateRoom added five new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our [dedicated page](/invest/angel-investors)). Find out more about our fund, [Access EIS](/invest), or read about our new portfolio companies below. ### Learney. Learney is an online AI tutor that accelerates learning for knowledge work, adapting to the user by continuous assessment through short questions, and guiding their next steps. It presents knowledge as a system of nodes, and aids users in finding the best path to their goals, while drawing on the principle findings of cognitive science on learning and memory. **Our angel partner in the round has a weighted IRR of 78% and has invested in Atlas ML, Magic Pony, and Fanbytes, to name a few..** **Total Round:** approx. £400k. **Stage:** Post-revenue. [Visit website](https://www.learney.me/) ### Bedfolk. Bedfolk aims...

# MOTH Drinks - up 278% ### "We make 5 star quality hotel bar cocktails that can be served as easily as a beer or a can of Coke". - Rob Wallis, Founder. ### The company MOTH - which stands for Mix of Total Happiness - produces canned cocktails using high quality spirits and mixers. The company, formerly known as Buveur, was among those fortunate startups able to accelerate its business model during the COVID pandemic, which saw considerable changes in the way people socialised and an increase in demand for the cocktail bar experience in a variety of alternative settings. The new social hotspots: beaches, parks, barbecues and gardens, to name a few, all made the availability of popular cocktails in a form that was easy-to-transport and keep cool ideal. Counting Selfridges, Harrods, The Ritz and Hoxton Hotels among its early clients, MOTH went on to launch in Waitrose...

## The short answer? There’s a lot of money about. How do I know this? Well I first wanted to find out more when we saw more and more deals coming to us that were exceeding the £10m valuation limit our Access fund had set. These all came from our super angel partners who typically target younger exciting companies that have yet to get a lot of traction. Our Venture Partner – Miruna Girtu [check her out here – she writes frequently and is generally brilliant](https://www.forbes.com/sites/mirunagirtu/?sh=4dd711395eec) – had been hearing from almost everyone that valuations were on the up. Our end of year [survey to our super angels](/articles/looking-ahead-at-2022) provided further corroboration. Our strategy has always been to get in early and build a diversified portfolio of deals by investing alongside angels with a proven track record. But what do you count as early? We always revert to data in our...

Srin Madipalli is the Former CEO / Co-founder of Accomable, an accessible travel startup that helped disabled people find and book adapted holiday accommodation worldwide online, which was acquired by Airbnb in 2017. With a background in genetics and corporate law, he did an MBA, taught himself to code and began building prototype web apps. Today he’s an active angel investor and startup mentor at several accelerators and incubators. You can listen to the full conversation, which goes into more detail about Srin’s background, his journey as a founder and the creation and sale of Accomable, on the link below. **We highly recommend listening to the full conversation below:** **But if you’re looking for some immediate insights, here are the three main takeaways.** ### 1. Look for evidence of creativity, but don’t fixate on a rigid plan. **Srin:** "I'm not very particular about seeing business plans, or five year projections,...

*In the second of our series of articles based on our whitepaper, we look at why gaining access to the top 20% of the startup market is important and how Access EIS goes about it. You can read the first in the series, where we talk about the importance of portfolio sizes, [here](/articles/why-bigger-is-better).* ### Why do most funds focus on a small number of companies? A majority of people accept that startups follow a power law distribution. 40% of startups fail within five years, and it’s within the top 10% of companies that you’ll find returns greater than 10X. Our own analysis also supported this power law, showing growth of 10X or greater in just 7.5% of the population. This distribution, with high growth in a small concentration of companies, is the reason many VCs look to focus their capital on a few selected deals. However, with this approach there...

In December and January SyndicateRoom added four new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our [dedicated page](/invest/angel-investors)). Find out more about our fund, [Access EIS](/invest), or read about our new portfolio companies below. "ID Ward is a decentralised advertising platform that allows accurate targeting, retargeting and attribution without personal data. It uses a patent-pending identity technology and on-device machine learning to collect, aggregate and anonymise data on the consumer device. As websites and apps prepare for the shift to a world where "cookies" are no more, ID Ward's solution helps publishers and advertisers reclaim lost audiences while protecting individuals' privacy. It's built around the Open Garden, a new environment that combines the best of Walled Gardens and Open Web in a privacy-first way: addressable audiences and accurate profiles with no personal data....

This month we celebrate the second anniversary of our fund, Access EIS, and a major investment milestone. Why did we invest in so many companies, and more importantly, what did it take to make it happen? ## Why? The [Access EIS](/invest) fund was created after our proprietary analysis discovered that the UK startup market sees consistent annual growth of around 28%. Based on this finding, we began running simulations to understand what the ideal conditions were for an investment portfolio to be optimised to capture this annual growth. You can read the full story in our [whitepaper](/invest/whitepaper), but to keep this brief, the most important things to consider were: 1- Portfolio size and 2 - Access to the top 20% of the market. We found that building a portfolio of 50+ companies each year reduced growth variance, minimised the chance of losing capital, and improved the odds of a 3x...

## Investing in startups? Here’s why portfolio size matters. Creating consistent returns from venture investing is challenging, but there are definite strategies that can optimise your portfolio and reduce the chance of loss. One question that is commonly asked is, how large should a portfolio be? You’ll find that the majority of funds aim to build a portfolio of anywhere between 5 and 15 investments on the basis that this small selection are hand-picked unicorns-to-be. Unfortunately, probability dictates that in most cases, they won’t be. As investors know well, most startups fail within the first five years. What they might not know is that, according to research from Cambridge Associates, fund managers pick winners only 2.5% of the time. More than a decade of data reveals that out of more than 4,000 VC investment rounds annually, the top 100 generate between 70 and 100% of industry profits. There is a...

## The problem with traditional VC funds. The job of a fund manager is to spot the Next Big Thing for investors. This process typically involves reviewing hundreds of business plans each year. They’re trying to find a handful of startups that they believe have the highest potential for growth. But there’s a flaw with this approach: **there is no magic bullet to predict startup success**. There are simply too many random variables involved to consistently pick future “blockbusters” based on information available at seed stage. So, what are the early-stage investment strategies which actually stand a chance of generating a decent return? ## Data suggests randomly investing in 30 startups could actually outperform most VCs. In 2011 there were 506 startups that raised seed or venture equity finance, for which reliable data was available. This includes now-household names like TransferWise and Nutmeg. The cohort of 506 startups grew in...

We asked our super angels about their experiences investing in 2021, and their expectations for 2022. Here are some of the investing trends that emerged from our survey, along with some excellent words of advice for investors and entrepreneurs. ## Experiences in 2021. ### More remote investing. 70% of respondents said they made a first time angel investment without meeting the entrepreneur in person: an increase on the 50% who said they had done so in 2020. ### High valuations, high quality deal flow. Asked what surprised them most about angel investing in 2021, the most common answers were that valuations were extremely high – which some attributed to an increase in American investment – and that there was very high quality deal flow. Some investors were also surprised that companies were able to recover so quickly in the wake of the challenges posed by the Covid-19 pandemic, while several...

Nick Jenkins, well known as one of the 'dragons' on the BBC Two series, *Dragon's Den*, began his career working as a commodity trader for Glencore in Moscow in 1990, just as the Soviet Union collapsed. He returned to the UK in 1998 to begin an MBA, and founded Moonpig.com, the first online, personalised greetings card business, in 2000. He sold the business in 2011 for around £120 million. He has been investing in startups since 2008, and was a member of the Impact Ventures UK investment committee – which invests in social enterprises using innovation to find better solutions to social issues in the UK. **We highly recommend listening to the full conversation below:** **But if you’re looking for some immediate insights, here are the three main takeaways.** ### 1. Have a checklist when choosing how to invest, and establish that the key components a business needs in order...

In November SyndicateRoom added one new startup to the Access EIS portfolio, investing alongside a super angel (for more on our super angels, and our co-investment model, see our [dedicated page](/invest/angel-investors)). Find out more about our fund, [Access EIS](/invest), or read about our new portfolio companies below. ### Basket The Basket app gives users a central shopping basket which they can fill with items from almost anywhere on the internet, even from photos. It compares prices and shows users where to get the best deal, while allowing plenty of customisation of your baskets. Our angel partner in the round has a weighted IRR is 28% and has previously invested in The Dots, WiseAlpha, and Plum, amongst others. **Total Round:** approx. £1,000,000.00 **Stage:** Pre-revenue. ### Rype Office Rype returns high quality used furniture to as-new condition and makes innovative furniture from waste materials, reducing carbon emissions by 80%. It also offers...

Matt Lerner is a London-based growth marketer, strategist & VC. He is the Founder of Startup Core Strengths and was previously London-based Partner of early-stage VC fund, 500 Startups. Prior to that, he worked for several years building and managing growth teams for three startups, and later at PayPal. **We highly recommend listening to the full conversation below:** **But if you’re looking for some immediate insights, here are the three main takeaways.** ### 1. Successful companies do things completely differently. **Matt:** "The most successful startups that we've studied, that we've been a part of, they don't look like a tiny little slimmed down version of a big company. They don't start with a marketing department and have this department and silos and all those things. When it's time to grow, the entire company focuses on growth. Engineering, product marketing, everyone works together, and aligns around this North Star metric, this...

While the debate about cryptocurrency rages on – is it a true asset class or not? – there is one thing that HMRC has a very clear position on. For the 2.3 million people in the UK who, Sky News reports, hold crypto coins or tokens, any profit made from the sale of these falls into a capital gain and is therefore taxable. If, like many others, you are a newer investor who has made profits from the sale of cryptocurrency, but you aren’t 100% up to speed with capital gains tax, fear not. Below we will explain a bit more about how capital gains work, the taxes paid, and what you can do to defer paying it while continuing to put the profits to work. ### What is a capital gain? In short, a capital gain is the profit made on the sale of an asset. This asset could...

In October SyndicateRoom added one new startup to the Access EIS portfolio, investing alongside a super angel (for more on our super angels, and our co-investment model, see our [dedicated page](/invest/angel-investors)). Find out more about our fund, [Access EIS](/invest), or read about our new portfolio companies below. ### Rosecut Rosecut combines expert insights and learning algorithms to provide impartial digital financial planning and investment services while keeping fees lower for investors. Its digital solution allows clients to access and monitor their investment portfolio, giving a 360-degree view of their financial data, and helping them to set goals and make long-term financial plans. Our angel partner in the round has a weighted IRR of 126% and has invested in Adzuna, Tandem, and VouchedFor, among others. **Total Round:** approx. £1,650,000.00 **Stage:** Post-revenue. .register-callout { display: none; }

Mac Conwell is Founder & Managing Partner at RareBreed Ventures, a pre-seed fund that invests in exceptional founders outside of large tech ecosystems. He started his career as a software engineer for the U.S. Department of Defense. He is a two-time founder with one successful exit. He worked at the TEDCO — the investment arm for Maryland — where he worked on the seed investment fund. During his time at TEDCO, it was struggling to invest in underrepresented founders, and Mac was able to start a pre-seed fund called the "Builder Fund," the first and only state-backed fund for women and minority founders in the U.S. **We highly recommend listening to the full conversation below:** **But if you’re looking for some immediate insights, here are the three main takeaways.** ### 1. Investor-product fit helps, but there are ways forward even if you don’t have expertise in the specific product or...

In September SyndicateRoom added two new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our [dedicated page](/invest/angel-investors). Find out more about our fund, [Access EIS](/invest), or read about our new portfolio companies below. ### Society. The Society® app offers students and clubs an instant branded app to increase engagement. Free for students with a university email address, it allows users to create their own branded app experience, make use of private and group chat, and to promote events. It's an excellent tool for managing and promotint societies and events. Our angel partner in the round has a weighted IRR of 37% and has invested in Novastone, ScreenCloud, and RotaGeek, to name a few. **Total Round:** approx. £500,000. **Stage:** Pre-revenue. ### Jove. Jove is an insurtech company providing flexible bundled insurance for contractors and freelancers....

Sarah is an entrepreneur, NED and angel investor. In 2014 she co-founded the fast-growing and award-winning angel network, Angel Academe, which helps female founders who can already demonstrate some commercial success with their technology business access a unique pool of engaged, mainly female investors. Members are successful entrepreneurs and senior leaders who understand that diverse teams build better businesses and want to invest as part of a high caliber, experienced and collaborative network. The 40 businesses Angel Academe has backed operate in enterprise software, fin tech, health tech, ed tech, clean tech and consumer tech. Collectively they've raised over £70m from angels and institutions, generated £millions in revenue and created hundreds of high value jobs. **We highly recommend listening to the full conversation below:** **But if you’re looking for some immediate insights, here are the three main takeaways.** ### 1. Progress towards greater gender diversity is being made, but slowly....

In August SyndicateRoom added two new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our [dedicated page](/invest/angel-investors). Find out more about our fund, [Access EIS](/invest), or read about our new portfolio companies below. ### Raindrop. Raindrop offers a fully digital and flexible pension solution. It works to reunite savers with their lost pensions and bring all their fragmented pots together into one, easy-to-use and flexible pension. Our angel partner in the round has a weighted IRR of 42% and has invested in VoxSmart, AND Digital, and Ordo, to name a few. **Total Round:** approx. £2,600,000. **Stage:** Post-revenue. ### Stamp Free. The Stamp Free Digital Postage Solution™ is a modern alternative to traditional mailing & returns, built on AI technology & simply delivered via an app on your phone. No stamps or postage labels. Our...

Dr. Silvia Mah, PhD, MBA, is the founding partner of Ad Astra Ventures, an investment firm with an exclusive focus on women-led innovations. She’s the founder of Stella Labs, an accelerator for women-owned businesses; founding member of Stella Angels, a female angel investment group; Investment Committee member of Next Wave Impact, a social impact venture fund; and an angel investor to over 30 startups who have diverse founders on the leadership team. We highly recommend listening to the full conversation below: But if you’re looking for some fast wisdom, here are the three main takeaways. ### 1. Make impact part of your DNA. **Silvia:** "When founders come to me and say, “I want to give away part of my revenue, and that's my impact”. I'm like, “It can't be that.” If it's so tied to revenue, what about if you don't have revenue? What are you going to do? So...

In July, SyndicateRoom added two new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our [dedicated page](/invest/angel-investors). Find out more about our fund, [Access EIS](/invest), or read about our new portfolio companies below. ### ARC Club. ARC Club is a professional workplace and shared space for the neighbourhood, offering the best of the office – meeting rooms, phone booths, wifi, and fostering community. Occupying commercial real estate in new developments, ARC aims to bring energy and purpose back to residential areas by creating equitable, productive hubs for local life. Our angel partner in the round has a weighted IRR of 45% and their investments include Dojo, Primary Bid, and Elvie. **Total Round:** approx. £600,000 **Stage:** Post-revenue ### Juggle. Juggle is a digital platform for companies to find, onboard, pay and manage, experienced, flexible professionals....

Venture capital funds are having their moment in the UK as a record amount of capital was invested in the first quarter of 2021, hitting £5.1 billion, up 21% on the previous quarter. Institutional investors in particular are flooding into VC with the hopes of achieving outsized returns and even retail investors are getting in on the action with new funds on the market lowering the barrier to entry to a £5,000 investment. However, data from the British Venture Capital Association (BVCA) shows that while the average annual growth of global VC/GE funds stands at a healthy 18%, nearly 75% of VC funds do not hit this growth, 46% achieve 10% annualised growth or less and nearly 20% return less than was invested. With so much inherent risk one wonders if it’s worth the investment. Below we explore the wider VC market looking at why the returns in VC are...

In June, SyndicateRoom added seven new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our [dedicated page](/invest/angel-investors). Find out more about our fund, [Access EIS](/invest), or read about our new portfolio companies below. ### Poro Technology. This spin-out from the Cambridge Centre for Gallium Nitride in the Dept. of Materials Science and Metallurgy has developed a new class of porous GaN semiconductor materials that offers an entirely new platform for semiconductor devices to be built upon. Our angel partner in the round has a weighted IRR of 32% and has invested in RPS, Neul, and Ieso, to name a few. **Total Round:** approx. £3,000,000 **Stage:** Pre-revenue ### Tred. The UK's first green debit card that helps you fight climate change effortlessly, every time you spend. This card and app makes it simple to track,...

Learning to be clever with your capital gains is a must if you want to be a savvy investor. Here are three useful tips to consider to make your capital gains as cost-effective as possible. 1. Defer capital gains by investing in EIS. Investing a taxable gain in an EIS allows you to defer capital gains for as long as that money remains invested. In practice, you can defer paying capital gains tax on this money indefinitely if you continue to reinvest it in an EIS each time you dispose of your shares (providing you have held them for three years, before disposing of them, each time). An added bonus here is that when you invest in an EIS, any gains you make on that investment are themselves exempt from capital gains tax, provided you hold the shares for more than three years, and have received full income tax relief...

ISAs are certainly the more familiar option, but are they the best option? ISAs are a reliable feature in the investing landscape: easy to understand, relatively low risk (although this can vary with the specific type of ISA), and open to everyone. By contrast, EIS, despite being long-established, is often considered a more fringe investment. Sure, the tax incentives are tantalising, but what about risk? And how do you claim the tax reliefs anyway? It might be time to re-appraise: EIS is today considered a much more mainstream investment than it once was, and while it is riskier than ISAs, it has a number of benefits that might be appealing to certain investors. Let’s look at why EIS might be a better option for your next investment. Tax reliefs Many people turn to ISAs to take advantage of the tax-free interest, and in the case of stocks and shares ISAs,...

Believe it or not, some investors are as eager to see positive social and environmental change as they are to increase their personal wealth. A 2018 US Trust survey found that 87% of millennial investors believe that environmental, social, and governance (ESG) factors should play a role in investment decisions. A report by Morgan Stanley‘s Institute for Sustainable Investing found that millennials are twice as likely as the overall investor population to invest in companies targeting social or environmental goals. Welcome to the world of impact investing. In 2020, according to the Global Impact Investing Network, the market was worth $715 billion: 42% more than 2019. Clearly, something significant is happening. A growing number of younger investors are choosing to invest in companies that stand to have a positive impact on the world, whether it’s clean energy, sustainability, or social change. “As a young investor, I believe in the power...

Investing in venture capital was once the prerogative of the wealthy. More recently however, innovations in fund management technology and an increase in demand have led many venture capital firms to lower the entry ticket for their funds, opening the door to a much broader investor base. In fact, some venture funds have minimum investments as low as £5,000. In this article we’ll explore whether you should consider adding venture capital to your portfolio, what the advantages are, and what risks it carries. ### The good: tax relief, deferrals, and benefits. There are a number of funds in the UK that offer investors considerable tax advantages both on the way into the fund, and on the way out. Through the government's [Enterprise Investment Scheme (EIS)](/eis), eligible investors can receive a generous 30% income tax relief on the amount invested into a fund, as well as loss relief on the investments...

If you believe the majority of startup founders who receive funding are male, well, you're right. Only 2.5% of the total capital invested in venture-backed startups in the US in 2019 went to female-led companies. But, if you believe this is because men do better, have a better chance of success, or are just somehow more suited to running businesses: you’d be very wrong. Here are three reasons why female-led startups are the future: ### 1. Female founders do better. A 2018 study, “Why Women-Owned Startups Are a Better Bet”, by Boston Consulting Group found that for every dollar of investment raised, startups with at least one female founder produced 78 cents in revenue, compared to 31 cents generated by all-male run startups. Startups founded or co-founded by women also performed better over time, generating 10% more in cumulative revenue over a five-year period: $730,000 compared with $662,000. ### 2....

In the latest episode of Angel Insights, our regular podcast on angel investing, investment trends and all things startups, we spoke to Peter Cowley, a tech entrepreneur and angel investor who has, to date, invested in 76 startups, led 30 investment deals, and been a director on over 40 boards. He was President of the European Business Angels Network (EBAN), chair of the board of the Cambridge Business Angels, and the Investment Director of the Marshall of Cambridge, Martlet Corporate Angel division. We highly recommend listening to the full conversation below: But if you’re looking for some immediate insights, here are three key takeaways. 1. Invest in people before plans. Peter: “It was the beginnings of what is so important nowadays, which I lost for a few years and then regained, which is investing in people. So this was investing in a super good technical person with a really good...

Traditional pensions may no longer be the most tax-efficient way to save for retirement. Where UK taxpayers once enjoyed a £255,000 allowance for HMRC pension contributions, this was reduced in 2017/2018 and is now only £40,000. By contrast, EIS investments offer reliefs on income tax, capital gains tax, inheritance tax, and several deferral options to eligible investors, in addition to the chance for returns. They also allow investors to claim tax reliefs on investments of up to £1m per year, which rises to £2m if the investments are made into "knowledge intensive." businesses. Simon Ruthers, Director of Business Development at Oxford Capital, suggests that these benefits, along with the reduction in the pension allowance, could be what’s behind the growing interest in EIS schemes. What is EIS, and what are the benefits? The Enterprise Investment Scheme (EIS) is a government initiative established in 1994 to incentivise investment in British startups,...

In May, SyndicateRoom added seven new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page). Find out more about our fund, Access EIS, or read about our new portfolio companies below. Oceanium. Sustainably-farmed seaweed can provide numerous environmental, economic and societal benefits. Its use can reduce deforestation, sequester carbon dioxide, and provide food and bio-packaging materials. Our angel partner in the round has a weighted IRR of 38% and has invested in Bulb, Mrs Wordsmith, and Rated People, amongst others. Total Round: approx. £1,000,000 Stage: Post-revenue ScaleXP. The ScaleXP system provides Metric & KPI tracking for ambitious high-growth companies. Their tools combine customer’s relevant data sources into a simple single point of access that makes building and maintaining large spreadsheets and disparate data systems simple and efficient. Our angel partner in the...

_“More ideas, more angles to resolve a problem from, and more fun!”_ – Story Terrace, Rutger Bruining, Founder & CEO. We wanted to take a moment this month to celebrate diversity in all its forms and to explore the many advantages diverse teams can bring to businesses. In the world of startups particularly, where creative problem solving, innovation, and an understanding of diverse markets and users are invaluable, a team that does not represent a diversity of perspectives, experiences and backgrounds can leave you at a disadvantage. Of course, we support diversity and inclusion as a moral direction regardless of the business case, but it’s encouraging to see the benefits extend to business performance too. Profitability. _“A diverse team allows us to come together as separate pieces and create an entire puzzle.” ScaleXP_ – Suezann Holmes, CEO. McKinsey’s 2020 report ‘Diversity Wins: How Inclusion Matters’ found that companies in the...

Denzel Walters is Associate Director at Optima Partners and Compliance Advisory and Strategy Lead at Community Growth Ventures, which works to invest in and support startups led by underrepresented founders. He spoke to us at length about his views on investing, and what underrepresented founders need to consider when approaching investors. We highly recommend listening to the full conversation below: But if you’re looking for some fast wisdom, here are the three main takeaways. 1. Investors, don’t be lazy Denzel: “Investors, we are just quite lazy. We look at pitch decks, the average time spent on a pitch deck is two minutes. So within two minutes, we're gonna say yes or no. I think you do have to spend more time to go and find companies, enough time to understand their markets. You have to put in the work, you can't be lazy about it and say, we want to...

Professor Chris Mairs, CBE, is a SyndicateRoom super angel, Venture Partner at Entrepreneur First and a Fellow of the Royal Academy of Engineering. He has a wealth of experience investing in startups and was chairman of Magic Pony Technology, which was acquired by Twitter in 2016 for $150m. We highly recommend listening to the full conversation below: But if you’re looking for some fast wisdom, here are the three main takeaways. 1. Invest in exceptional founders. Chris: “What Entrepreneur First is looking for is a CTO with deep, deep technical expertise. And the CEO with an understanding of how to potentially apply that expertise and technology to a particular domain, and the ability and the charisma and the articulateness to be able to persuade investors and potential customers of the significance of the technology. Just ask yourself, Is this person exceptional enough? When we're looking at what we're looking at,...

Kirsten Connell is Venture Partner at Octopus Ventures. She started her career at E-Synergy before spending five years at Seedcamp, then becoming Managing Director at the Cylon Accelerator based in London, which is focused on helping cybertech companies scale up. Outside of Octopus, Kirsten is an angel investor, board member and was previously involved in the Cherie Blair Foundation. We highly recommend listening to the full conversation below: But if you’re looking for some fast wisdom, here are the three main takeaways. 1. Truly disruptive businesses need time to educate the market. Kirsten: “There are definitely some examples I’ve seen where the founders have everything you would want them to have, you know, the vision, the drive, but where the company ultimately hasn't succeeded. I think that then just comes down to the market not being ready. That whole educating the market piece is where it falls apart. Ultimately, what...

Syndicate Room’s recent podcast with Ros Singleton, a telecomms exec with 25 years experience in the sector, member of Angel Academe and Chair of the UK5G Advisory Board, provided some excellent insights into the world of angel investing. We highly recommend listening to the full conversation: But if you’re looking for some fast wisdom, here are the three main takeaways. 1. Angel investing is not as complex or exclusive as you might think. Ros: “I always thought of angel investing as being you know, guys who invest in Mark Zuckerberg, or you know, wear blue suits and march around the city carrying folios, largely being rude and shouting about spreadsheets a lot, that whole thing. I thought that's something for mega rich people. I've been quite successful, but I'm certainly not mega rich, and I'm not the sort of person who can invest a quarter of a million here and...

In April SyndicateRoom added eight new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page). Find out more about our fund, Access EIS, or read about our new portfolio companies below. Anaphite. Li-ion batteries are arguably the most important rechargeable batteries in the world. Using graphene based nanocomposites to replace/complement existing anode/cathode materials has been shown to significantly improve charging rates and capacity. Anaphite makes this change economically feasible on a large scale. Our angel partner in the round has a weighted IRR of 40% and has invested in Auroch Digital, Rovco, and Yellow Dog, among others. Total Round: approx. £1,000,000 Stage: Post-revenue Placed Recruitment. Placed equips forward-thinking companies with the tools and technology they need to reach and recruit the next generation of talent. Their current clients include FirstGroup, Nuffield Health,...

As part of our support for #EarthDay, we spoke to the founders & CEOs of our cleantech portfolio companies to get their perspectives on what it means to innovate in this space, and their thoughts about the future. SyndicateRoom: In a few sentences, tell us what Hexigone does. Patrick Dodds: Hexigone manufactures smart reservoirs that protect from corrosion, replacing dangerous traditional chemicals used in paints. We started out to replace Hexavalent Chromate (the chemical causing the cancer in the Erin Brokovich film), and now we increase the maintenance cycles of assets, reducing the drain on primary resources and lowering CO2 emissions, all via Chemical Intelligence. SR: Tell us more about why developing cleantech is important and what other businesses can learn from what you’re doing? PD: You cannot use the same technology and expect CO2 emissions to drop, plastic in the oceans to fall or the Earth's resources to become...

As part of our support for #EarthDay, we spoke to the founders & CEOs of our cleantech portfolio companies to get their perspectives on what it means to innovate in this space, and their thoughts about the future. SyndicateRoom: In a few sentences, tell us what Bockatech does. Henri Gaskjenn: Our EcoCore plastic manufacturing technology is helping some of the world's best-loved brands — in markets from food service to FMCG — provide high-performance packaging that is economically viable and more sustainable. SR: Tell us more about why developing cleantech is important and what other businesses can learn from what you’re doing? HG: Cleantech is playing a critical role in enabling the changes that need to happen for us all to live sustainably. Our approach is to make adoption easy by working with stakeholders in existing supply chains. For example, when it comes to materials, EcoCore uses tried and trusted...

As part of our support for #EarthDay, we spoke to the founders of our cleantech portfolio companies to get their perspectives on what it means to innovate in this space, and their thoughts about the future. SyndicateRoom: In a few sentences, tell us what Sorex Sensors does. Mario de Miguel Ramos: Sorex has developed a range of sensors to help monitor indoor air quality. These sensors are small enough to be used in a mobile phone or similar application, consume microwatts of energy and are based on our proprietary film bulk acoustic resonant (FBAR) technology. SR: Tell us more about why developing cleantech is important and what other businesses can learn from what you’re doing? MdMR: As the population grows and we all continue to become more mobile it is essential that we build a sustainable economy where we can all share equally in the livable spaces on this planet...

SyndicateRoom’s recent podcast with Caroline Halliday – angel investor and Director with Green Angel Syndicate – provided some valuable insights into the world of green angel investing. We highly recommend listening to the full conversation, but if you’d like to whet your interest first, here are the three main takeaways. 1. Cleantech covers much more than just renewable energy and carbon capture. Caroline: “It's very, very broad. The types of companies we have coming forward to Green Angel Syndicate are very varied. We're looking at agrotech companies, food production, improved yield production, avoidance of pesticides. We are looking at not just energy, and optimising energy production and distribution, but also the mitigation of climate change impacts. We look at storm management, storm drainage management, for example, through one of our companies, Storm Harvester. And we look at the circular economy. And you can imagine, because of my background with SEPA...

As part of our support for #EarthDay, we spoke to the founders of our cleantech portfolio companies to get their perspectives on what it means to innovate in this space, and their thoughts about the future. SyndicateRoom: In a few sentences, tell us what Powervault does. Joe Warren: Powervault makes smart home energy storage devices (based on batteries) that allow customers to store the excess electricity generated by their rooftop solar PV in the day, as well as low cost renewable energy from the grid, to use at home when the sun is not shining or the wind is not blowing. SR: Tell us more about why developing cleantech is important and what other businesses can learn from what you’re doing? JW: As a country we have committed to reach net zero emissions by 2050. To do this we are going to need to decarbonise not only electricity, but also...

As part of our support for #EarthDay, we spoke to the founders of our cleantech portfolio companies to get their perspectives on what it means to innovate in this space, and their thoughts about the future. SyndicateRoom: In a few sentences, tell us what Zeigo does. Juan Pablo Cerda: Zeigo is a climate tech platform that helps organisations buy energy directly from wind and solar farms via a mechanism called power purchase agreements (PPA). PPAs are very important as they provide developers with t he necessary finance to build solar or wind assets. PPAs directly contribute to the replacement of fossil fuel energy with new green electrons, this is essential in combating climate change. SR: Tell us more about why developing cleantech is important and what other businesses can learn from what you’re doing? JPC: The world relies upon innovation, technology and the digitisation of current processes in order to...

With the cost of technologies enabling renewable energy generation plummeting rapidly, the government committing to end domestic coal power generation by 2025, a government plan to power all UK homes with wind by 2030 in place, and a legally binding target of net-zero emissions by 2050 passed into law in 2019, renewable energy has the UK's power sector moving in an encouraging direction. Renewables produced 42% of the UK’s electricity in 2020, outpacing its fossil fuel generation for the first time. Total Greenhouse Gas emissions (GHG) were 48.8% lower in 2020 than they were in 1990.[1] The UK also operates several schemes to provide financial support for renewable energy, encouraging further technological development and wider adoption. What is clean technology? Green – or clean – technology is much vaunted as the most important step humanity can take in the next decade. With the majority of the world (with the exception...

As the new tax year begins, SyndicateRoom's added six new startups to the Access EIS portfolio, investing alongside super angels in each case (for more on our super angels, and our co-investment model, see our dedicated page. Find out more about our fund, Access EIS, or read about our new portfolio companies below. BKwai. BKwai’s solutions use data science and AI to leverage insights from manual measurements, sensor data and satellite data to radically radically improve infrastructure asset management throughout the lifecycle of an asset – from planning to construction, to long term asset management. Our angel partner in the round has a weighted IRR of 66% and has invested in digi. me, fatsoma and smartframe. Total Round: approx. £400,000 Stage: Post-revenue Hoptroff. Founded by a team of timing, AI, software development and media experts, Hoptroff is an industry leader in synchronised time. Their clock-sharing system is energy efficient and...

SyndicateRoom’s recent podcast with Simon Thorpe, angel investor and backer of success stories like SwiftKey and Vocal IQ, provided some excellent insights into the world of angel investing. We highly recommend listening to the full conversation: But if you’re looking for some fast wisdom, here are the three main takeaways. 1. Be sure the founders’ forecast makes the right assumptions. Simon: “The most important thing when I meet entrepreneurs is that they’ve thought, ‘what assumptions might be appropriate to my business and to my vision of the future?’, bearing in mind there may not even be a market for their product at the time. The best entrepreneurs are creating a new market. I’m looking to see the entrepreneurs have really understood the assumptions that they’re making in the forecasts. What’s really important is that they’ve actually thought about the size of the addressable market, how are they breaking that market...

SyndicateRoom’s Access EIS fund represents a unique, data-driven approach to venture capital investing. But what does that really mean? To answer that question, and many more, SR CEO Graham Schwikkard hosted a webinar that set out exactly how Access works. The webinar includes a 20 minute presentation, followed by a Q&A session with attendees. The webinar covers the following: - Why was Access EIS created? - What data and market insights is Access EIS based on? - How does a data-driven approach reduce risk? - Who are the super angels, and what advantages does co-investing bring? To see it, click the video below. This video is about an investment product. Investing in early-stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution, and it should be done only as part of a diversified portfolio. Please click here to read the full risk warning. Find out more...

The world premiere of the latest hit British comedy took place on 24th May 2018 at Wembley Stadium, where the real life Bromley FC had played just the previous Sunday. The cast of The Bromley Boys is headed up by Brenock O’Connor (Game of Thrones) as Dave, a young boy whose obsession with Bromley FC (and flights of fancy) leads him to wade out far out of his depth. Brenock is joined by Savannah Baker who plays Ruby, Dave’s love interest and daughter of Bromley FC’s Chairman, played by Jamie Foreman (Layer Cake, Inkheart, EastEnders). Meanwhile, Alan Davies and Martine McCutcheon join the cast as Dave’s parents. We were lucky enough to attend the star-studded premiere and speak with some of the cast, screenwriter Warren Dudley and Producer TJ Herbert, who has a special message for the SyndicateRoom investors who helped make this film happen. It was a truly celebratory...