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Deepbridge Capital gives £1m boost to its SEIS fund

Deepbridge Capital SEIS

Venture capital investment manager Deepbridge Capital is opening a £1m tranche for its Deepbridge Innovation SEIS fund to invest in early-stage UK tech startups.

Deepbridge’s seed enterprise investment scheme – or SEIS – fund will allow private investors access to a pool of UK tech startups that are at an early investment stage.

The scheme will also give investors tax relief as part of the government’s plan to boost investments from high value UK individuals into the British tech sector.

Deepbridge’s new £1m tranche aims to further its support of emerging tech companies in the UK that have promising new technologies with the potential to meet growing market demands by providing them with much-needed capital.

The HMRC SEIS was launched in April 2012 to incentivise individual investors who are UK residents with generous tax breaks on investments to small, early-stage startups.

Adrian Neilan, an investment director at Deepbridge Capital, said: “In response to significant demand from financial advisers and investors, we are delighted to be seeking a further £1m of SEIS capital via the Deepbridge Innovation SEIS.

“The UK government’s Seed Enterprise Investment Scheme is a world-leading initiative; providing investors with significant tax reliefs as an incentive to support seed-stage companies which are seeking to create the innovation and jobs of tomorrow.

“Given the growing interest in such investments, as part of a diversified portfolio, we expect that this fundraising tranche will yet again be oversubscribed so we urge interested advisers to contact their local Deepbridge representative at the earliest opportunity.”

Those investing through the Deepbridge Innovation SEIS will be required to pay a minimum subscription fee of £25,000, with funds from the new Deepbridge Innovation SEIS expected to be deployed in the 2022/23 tax year.

Previous investments through the Deepbridge Innovation SEIS include Smallspark Space Systems, Thinking Machine Systems, Touch Biometrix, Mynurva and Trigenex.