Oxford Investment Opportunity Network (OION), a business angel network owned and managed by Oxford Innovation, has launched its initial Seed Enterprise Investment Scheme (SEIS) Fund.
The OION 2015 SEIS FUND is promoted and managed by Innvotec Ltd, an FCA regulated Alternative Investment Fund Manager, specialising in investment in start-up and early-stage businesses.
OION is Innvotec’s strategic partner in the fund with specific responsibility for identifying high potential investment opportunities and assisting the entrepreneurs and their businesses post investment.
The fund is the first in a proposed series of annual SEIS funds dedicated to investing in start-up and young companies identified by OION that are located in Oxfordshire and Thames Valley region – within a one-hour drive of Oxford.
Portfolio companies will be provided with on-going management support and advice delivered through the OION network of business advisors. SEIS is a newly introduced tax relief (the younger and smaller sibling to EIS), which offers higher rates (currently 50 per cent) of income tax relief for subscription of up to GBP100,000 per annum in smaller, early stage companies. Depending on their individual circumstances, investors in the SEIS Fund may be able to claim up to 78 per cent tax relief (including capital gains deferral relief). Any and all gains are free of CGT after a three years holding period.
Don McLaverty, managing director of OION, says: “OION hopes this will be the first of the SEIS funds and we are pleased to be working with Innvotec to support the growth of a number of high quality start-ups from across the Oxfordshire and Thames Valley region.”
John Marsden, managing director of Innvotec, says: “Innvotec is delighted to be working alongside its strategic partner OION and excited at the prospect of investing behind first-class entrepreneurs in stellar businesses located in Oxford and the surrounding area.”
