Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more.

Risk warning: Please click here to read the full risk warning.

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. Tax relief depends on an individual’s circumstances and may change in the future. In addition, the availability of tax relief depends on the company invested in maintaining its qualifying status. Past performance is not a reliable indicator of future performance. You should not rely on any past performance as a guarantee of future investment performance.

This page has been approved as a financial promotion by Syndicate Room Ltd, which is authorised and regulated by the Financial Conduct Authority (No. 613021).

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Syndicate Room Ltd is registered in England and Wales. Number 07697935. Registered office: Wellington House, East Road, Cambridge, Cambridgeshire, CB1 1BH, United Kingdom

General enquiries

Please note: our office hours are weekdays, 9.30am - 5.30pm.

Email:

contactus@syndicateroom.com

Phone:

01223 478 558

Existing investors

Email:

investor.relations@syndicateroom.com

Phone:

0800 368 9188

Carry Back EIS

Invest at a critical point in the journeys of some of our fastest-growing companies

Next deadline18th March 2026

Target return3x (net of fees)

Min investment£10,000

Portfolio companies5-10 companies

Income tax relief30%

WHY INVEST|APPROACH|TAX BENEFITS|TEAM|DOCUMENTS

Reasons to invest

Built on data

This fund is built on years of aggregated portfolio performance data, thousands of company updates, and market-wide datasets. The volume of data we hold allows us to apply a distinct analytical approach to company selection.

Capitalise on a critical moment

We launched this fund now because our data indicates that a meaningful subset of the Access portfolio is reaching a critical inflection point. Now is the time to capitalise on the companies that have seen significant signs of growth.

Claim tax relief in the current tax year

We aim to deploy capital before the end of the current tax year, specifically to meet the needs of investors and advisers looking to utilise 'carry back' reliefs for the 2024/25 tax year.

Carry Back EIS' investment approach

The Carry Back Fund’s investment approach

Portfolio of 5-10 companies.
Minimum investment of £10,000.
Deployment before the end of the 2025/26 tax year.

Our approach links to the strengths of our data-driven Access EIS Fund to give investors access to follow-on opportunities at a critical moment in a company’s growth journey:

Investment decisions based on data

The Carry Back EIS Fund builds on our data-driven approach to selecting and investing in high-potential startups. It leverages valuable insights from our proprietary data analysis to give investors follow-on opportunities with some of the fastest-growing Access EIS Fund companies.

We constantly monitor data from our 190+ active portfolio companies and process hundreds of written updates using AI-powered analysis. This provides real-time visibility into performance metrics, cash positions, and strategic developments that other funds struggle to process at such volume.

Supporting companies at a critical stage in their growth trajectory

Using our proprietary data sets, together with our ongoing, in-depth analysis of Companies House filings, we can identify a subset of our investments that are at inflection points in their growth trajectory.

These companies have sufficient traction and valuation stability in place, yet significant room for further valuation uplift in their onward growth journeys, making them promising opportunities for investment.

Backed by research

Our correlation analysis of 5,000+ UK startups reveals that Compound Annual Growth Rate (CAGR), first-year valuation, and subsequent funding amounts are the strongest predictors of exit success. You can read much more about our research in our white papers:

The Mathematics of UK Venture Capital: Diversification, Access and Funding Dynamics in Early-Stage Investing.

The Science of Startup Investing.

The Carry Back Fund portfolio

The Carry Back Fund will be constructed from top performing Access EIS Fund companies that are ready to move to the next stage of growth. Below we provide some examples of companies showing strong growth signals. Please note that past performance is not an indicator of future results, and the companies listed below are not guaranteed to form part of the Carry Back Fund portfolio.

In venture capital, the maths is clear: one rocket ship can define your entire portfolio. After a decade of mapping the UK startup market, we’ve identified a subset of our 190+ companies that have already cleared the launchpad and are showing undeniable momentum.

Graham Schwikkard

CEO, SyndicateRoom

Tax Relief Benefits

Income Tax Relief

Claim up to 30% income tax relief on your investment in the year you invest

Tax-Free Growth

No capital gains tax to pay on profits when you sell your shares

Loss Relief

If your investment loses value, you can offset the loss against income tax or capital gains

Inheritance Tax Relief

Shares held for 2+ years qualify for 100% inheritance tax relief

Capital Gains Deferral

Defer capital gains tax by reinvesting gains into EIS-qualifying companies

Tax treatment depends on individual circumstances and may be subject to change.

Calculate your potential EIS tax relief

Investors can claim a number of valuable tax reliefs when they invest in an EIS Fund. See what tax relief is potentially available to you based on your investment amount and tax bracket.

Fund type

Investment amount (multiples of £5,000)

Income tax bracket

IMPORTANT:EIS tax reliefs are subject to individual circumstances and may change. The 30% income tax relief and 45% loss relief rates shown are current as of May 2026 but are not guaranteed. Investors should seek independent tax advice. Tax benefits depend on personal circumstances and tax legislation may change.

Your estimated tax benefits

EIS tax relief is available on deployed funds (investment after fees). This example assumes a 2% setup fee and 3 years of 2% annual management fees are deducted from the deployment amount. Note that fees vary between funds, please check the Charges section for more information.

Income Tax Relief (30%)

Up to 30% of the amount deployed in investee companies in the year of investment, subject to the amount of income tax payable and an annual investment limit of £1m (irrespective of marginal tax rate, although your income tax bill must exceed the relief you claim).

£2,760

Tax-free Growth

When EIS qualifying investments are sold the capital gains are tax exempt, also subject to the shares having been held for at least three years and claiming income tax relief on the original investment

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Potential Loss Relief

If EIS shares are sold for less than the amount invested (net of income tax relief), loss relief is available. For this calculator we've assumed 38% of the underlying shares are sold at 100% loss because of our research into the startup market (https://www.syndicateroom.com/guides/power-law-whitepaper. )

£1,101

Inheritance Tax Relief

EIS investments qualify for 100% relief from inheritance tax under current legislation, provided that the investment has been held for at least two years, it is still held at time of death and remains unlisted. This calculation assumes no growth in the investment

£3,680

Capital Gains Deferral

A gain made on the sale of other assets can be reinvested in EIS-qualifying shares and deferred over the life of the investment. Download our guide for more information

Available

The Team

Graham Schwikkard

CEO

CEO Graham Schwikkard has over a decade of experience with data science and working with large datasets. He has a fascination with the dynamics of the startup investment network an…

Tom Britton

Co-founder

After completing his MBA in Cambridge, Tom co-founded SyndicateRoom to give a wider audience access to venture capital investment. As co-founder, Tom works across all aspects of th…

Francesca O'Brien

Partner (Risk)

Fran is the Compliance Officer and Risk Partner at SyndicateRoom. In addition to managing regulatory adherence and risk across the firm’s funds, Francesca brings over a decade of e…

Fund Documents

PDF

Information Memorandum| 1.9 MB

PDF

Brochure| 1.9 MB

PDF

Key Information Document| 268.0 KB

SPEAK WITH US

Carry Back EIS