What is an EIS fund?
An EIS fund is a venture capital fund that invests in companies through the Enterprise Investment Scheme (EIS). By offering tax relief to early-stage investors, EIS is designed to help startups raise the funding they need to grow and develop.
To show potential investors that your company is eligible for EIS, it’s a good idea to secure Advance Assurance from HMRC as part of your funding round preparations. Once you’re ready to start fundraising, check out the list of resources at the bottom of this article for tips from investors, founders and startup lawyers.
EIS funds list
Here’s an alphabetical list of active EIS investment funds – many of which are Carta partners. While this list isn’t exhaustive, it will help you get started with finding the best EIS funds for your business.
Anthemis invests in companies all the way from pre-seed to growth stage. The venture capital firm’s goal is to fuel a new generation of businesses that will reinvigorate the financial ecosystem.
Ascension enables the top tech innovators in the UK to create lasting impact. In addition to investment, Ascension’s portfolio companies benefit from a network of mentors and growth opportunities.
Better Ventures is an EIS fund managed by Vala Capital which targets early-stage companies across a variety of sectors, from lifestyle and wellness to media and fintech. The fund focuses on helping innovative entrepreneurs transform their ideas into profitable, sustainable businesses.
Concept Ventures is the ‘home of the UK pre-seed’ for startups disrupting the way we work, play and learn. Concept’s team of first-cheque investors supports founders from the very early stages to Series A and beyond.
Deepbridge Capital manages a range of funds dedicated to different sectors and stages, including Innovation SEIS, Technology Growth EIS and Life Sciences EIS. The firm also invests in renewable energy businesses.
Downing has been running for over 35 years, with £2 billion in assets under management and offices in London, Glasgow, Cardiff and Stockholm. The fund achieved B Corp status in 2022 and seeks investment opportunities with potential for profitability as well as environmental and social impact.
EMV Capital is a specialist deeptech investor for early-stage B2B companies in the life sciences, sustainability and industrial sectors. The EMV Capital Evergreen EIS Fund invests in promising companies that qualify for EIS.
Fuel Ventures invests in early-stage tech companies with initial signs of traction. The firm launched a follow-on EIS fund in 2019 and went on to win ‘ Best EIS Investment Manager’ in 2022.
Guinness Ventures looks for early-stage investment opportunities in growing markets and has funded over 100 companies since launching in 2011. Its main venture funds invest in EIS-qualifying businesses with ambitious growth goals.
Haatch helps B2B SaaS disruptors progress from £1 million ARR to building the infrastructure to surpass £10 million. Through a dedicated EIS fund, the Haatch team writes cheques of £300k-£800k for seed-stage companies.
MMC Ventures provides seed and Series A funding for AI and data companies across Europe. A proportion of the fund’s capital is reserved for follow-on rounds, making MMC an ideal long-term partner.
Molten Ventures is a growth-stage investor leading rounds from Series A onwards. The fund invests in deeptech, consumer tech, healthtech, SaaS and enterprise software. Review Molten’s investment criteria to see if your business is the right fit.
Northzone is a venture capital fund for companies between the seed and growth stages in Europe and the US. Northzone’s team takes a refreshing view on venture capital, putting founders in control and fostering a culture of transparency.
Octopus Ventures invests over £200 million a year into health, fintech, deeptech, consumer and B2B software companies. The fund supports startups from an early stage all the way to Series B, using a founder-focused model that has resulted in 32 successful exits. Find out how the Octopus Ventures fundraising process works.
Oxford Technology provides follow-on funding for EIS-eligible companies (after investing through SEIS). The fund focuses on disruptors based in and around Oxford that are experimenting with science or technology.
Side by Side has an EIS fund dedicated to helping consumer technology or B2B SaaS businesses scale up and achieve profitability. The fund invests between £200,000 and £2 million in EIS-eligible companies from pre-Series A to Series B.
SuperSeed Ventures provides early-stage venture capital funding for AI-powered businesses across manufacturing, logistics, aerospace, agriculture, healthcare, energy and finance.
Sustainable Ventures invests in climate tech startups that are eligible for EIS. The fund also offers a 12-month accelerator programme to help its portfolio companies secure their next funding round. Get started with an investment application.
TrueSight supports UK and Nordic companies with seed, early-stage and follow-on investment. TrueSight’s portfolio spans a variety of sectors, from healthcare and mobility to financial services and AI.
Fundraising resources
We’ve picked out some of the best Carta articles and webinars to help you go from startup to scale-up:
Check out our full collection of fundraising resources, designed to help UK businesses take advantage of SEIS and EIS.
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