Mrr -logo 250px -min

In December 2014, Mill Residential REIT became the world’s first crowdfunded IPO after raising £2,222,520 on SyndicateRoom.

The story

Established by Mill Group, Mill Residential REIT’s strategy was to create a diversified portfolio of residential rental properties in the UK, initially focused in London, Southern England and other areas where attractive opportunities can be found. This gives individuals the chance to invest in property at a fraction of the usual cost and without the burdens and responsibilities of being a landlord.

Mill Residential REIT was the first of its kind to offer exposure to the mainstream buy-to-let market via shares in a company, available to both private and professional investors. This was the first time crowdfunding has been used alongside IFA networks, traditional private placings and an institutional IPO roadshow.

Cash -houses -min

Where are they now?

In October 2015, Directors of Mill Residential REIT concluded that the business should cease trading on AIM, and afterwards start a Members Voluntary Liquidation. In their investor communications they noted that while a number of potential investors made indications of interest, the Company was unable to attract capital of sufficient scale to grow the business’.

Goncalo de Vasoncelos, CEO of SyndicateRoom, commented on the development, saying, _’We note that Mill Residential REIT, a company that raised funds on SyndicateRoom, has decided to cancel its listing on AIM and commence a Members’ Voluntary Liquidation. _

‘The Directors of Mill Residential have clearly taken a pragmatic view on the prevailing market conditions and we recognise that this decision is an example of sensible and appropriate corporate governance. It is important to note that shareholders are estimated to receive 85 - 90 pence per share, representing 85 – 90% of the listing price.

‘Equity crowdfunding is high risk, with losses balanced against the potential for high returns, and this is another example of this young sector ‘growing up’ into an established asset class. Part of this ‘growing up’ is to be open and transparent about the failures as well as the successes – something which remains extremely important to both us and our investors.’

See current opportunities

Bactest

EIS
Pharmaceuticals & Biotechnology
Bactest’s technology turns microbial activity into data, offering multiple industry applications. They raised £838,380.

No longer trading

Trading status

£13,478

Average investment

£930,000

Total raised

MitoDys

SEIS
Pharmaceuticals & Biotechnology
MitoDys, researching holistic approaches to the treatment of Parkinson's disease, has successfully raised £150k from angels and sophisticated investors on SyndicateRoom.

Active

Trading status

£9,375

Average investment

£150,000

Total raised

Canary

EIS
Technology, Hardware & Equipment
Canary is led by none other than Christopher Curry, co-founder of Acorn computers, William Cotton, former MD of Boots International, and Stuart Sheehy, previously at BUPA.

Active

Trading status

£10,458

Average investment

£251,000

Total raised

Apta Biosciences

EIS
Pharmaceuticals & Biotechnology
Apta Biosciences – creators of a groundbreaking alternative to antibodies – came to SyndicateRoom for help closing their £1.55 million round. The spin-off from Japanese IT giant Fujitsu wound up breezing past their funding target, closing at an impressive £1,792,500.

Active

Trading status

£34,906

Average investment

£1,850,000

Total raised

e-Go Aeroplanes

EIS
Engineering & Manufacturing
e-Go aeroplanes, the company behind the lightweight fun flying machine, has successfully raised £950k on SyndicateRoom.

No longer trading

Trading status

£12,025

Average investment

£950,000

Total raised

RefurbThat

EIS
Technology, Hardware & Equipment
RefurbThat save companies and individuals money on their computing spend, selling like-new refurbished laptops with up-to-date pre-installed software.

Active

Trading status

£13,041

Average investment

£352,100

Total raised