The Nova Cofoundery SEIS & EIS Fund

The fund invests into qualifying UK early stage startups which are generated through a venture building model. Built Ventures has a core venture building partner – The Venture Studio, which takes its founders from an initial idea to discovering its market and building the business. The Venture Studio builds a dedicated team around startups which explores, validates & scales founders and their ideas. The team includes software and hardware engineers, marketing and finance specialists, designers, project managers, and others as needed.

The Venture Studio is a venture builder which specialises in building from the ground up early stage, EIS & SEIS eligible technology businesses which have the potential for high growth.

What makes it unique is it’s systematic and risk mitigation approach to supporting founders and their startups. They do this through a tried and tested method in building and scaling companies providing the founder with its first core team to work directly on the business. The Venture Studio’s allows for an eco-system where founders harness the expertise of a team who bring unparalleled knowledge and support to them as individuals and to their company.

The Venture Studio and Built Ventures share the same belief that venture building is the secret sauce to creating successful startups and just providing capital is not enough.

Investment Criteria

The investment strategy of the Nova Cofoundery SEIS and EIS fund is for subscriptions to be invested in a diversified portfolio of a minimum of 10 investee companies that exhibit some or all of the following qualities:

  • Significant market potential with clear and demonstrable consumer or commercial need or demand.
  • A problem originated solution that has the potential to create new market segments or displace current market offerings.
  • Companies that utilise a technology-derived platform and/or an innovative approach to meet a newly-identified or existing market or consumer demand.
  • Knowledge-intensive opportunities that possess a clear and realistic path to the delivery of a minimum viable product or prototype.
  • A clearly defined strategy aimed at creating and protecting intellectual property.
  • Passionate, energetic and experienced founders.
  • A clear exit strategy to be implemented within 4-5 years with an alignment of founder interests with shareholders.


Fund Manager: Built Ventures
Tax Efficiency: SEIS & EIS
Sector Focus: Technology
Stage Focus: Pre-Seed and Seed
Target Portfolio Size: 10-30 companies
Minimum Subscription: £10,000
Closing Date: Currently closed
Website: The Nova Cofoundery SEIS & EIS Fund

Pros & Cons

Pro: Companies the fund invests in benefit from the network and experience of the fund managers who were successful entrepreneurs. Companies pay no fees.

Con: The performance fee of the fund is higher than elsewhere combined with having a lower hurdle rate.


Full initial fee: nil
Annual management fee: nil
Annual custodian fee 1%
Dealing fee: nil
Performance fee: 20% (in excess of 150% of the funds invested)

Investee company fees

Corporate advisory and arrangement costs: up to 5% of funds invested in the Investee Company
Investor marketing fee: up to 5% of funds invested in the Investee Company
Dealing Fee: 0.25% of the funds invested to purchase the shares in the investee company and of the proceeds of sale of shares remitted back to the investor
Custody Fee: 0.35% of funds invested into the company

How does SyndicateRoom's Access EIS Fund compare?

By comparison, SyndicateRoom's Access EIS fund builds investors a large portfolio of 50+ companies across all sectors, co-investing with experienced angel investors who have an average IRR of 42%. Our model is based on our proprietary analysis of the UK startup market, which showed that on average, the market grows by 28% each year. With large portfolios, and a large network of angels providing access to the best deals, earlier, we aim to replicate that annual growth for our investors while mitigating risk. This data-driven approach aims to work around the limitations of a single fund manager attempting to pick winners.

Our minimum investment is £5,000.

Fund Manager: SyndicateRoom
Tax Efficiency: EIS
Sector Focus: Sector Agnostic
Stage Focus: Early-stage
Target Portfolio Size: 50+ companies
Minimum Subscription: £5,000
Closing Date: Evergreen
Website: Learn more about the Access EIS Fund
Please note: SyndicateRoom is not affiliated with Built Ventures. This page is for informational purposes only, and is the result of research conducted by SyndicateRoom. Whilst every effort has been taken to ensure accuracy at the time of publication this cannot be guaranteed and information is liable to change. Information displayed is neither a recommendation to invest or not, nor advice. With investments, your capital is at risk. SyndicateRoom is not responsible for the content of any external websites linked to from this page.

Are you the fund manager? Email [email protected] with any comments or amends.