We are delighted to announce the launch of our second Knowledge Intensive EIS Fund, an HMRC approved EIS fund which will invest in science and deep tech businesses from UK universities, mirroring the investment strategy of our evergreen Opportunities EIS Fund. Read full coverage of the fund launch in Investment Week, and below.
The Parkwalk Knowledge Intensive EIS Fund II will target high growth IP-backed DeepTech businesses and follows the success of KI Fund I which was the largest KI fund in the market last year, raising over £21m. Parkwalk expects strong investor demand for KI Fund II and this year the Fund seeks to raise £25m.
Parkwalk has been the largest EIS fund, by money raised, for the last three tax years and was the first major EIS fund manager/investor to launch a Knowledge Intensive EIS Fund.
The firm raised £65m in the 2020/21 tax year and has had a busy year, including the exit of YASA motors, a specialist in next-generation electric drive technology, to Mercedes. It was one of the largest EIS exits, by monies returned to investors, in recent years.
The first fund was created in January 2021 following Government changes to the rules surrounding ‘approved Funds’ to align with the UK’s modern industrial strategy and encourage investment into Research and Development led businesses.
Moray Wright, CEO of Parkwalk, said: “We are thrilled to be announcing the launch of our second Knowledge Intensive EIS Fund. This is testament to the success we have seen with the first fund, launched earlier this year, which has already invested in a number of fantastic businesses and seen substantial investor interest.
“The fund takes advantage not only of the UK’s world leading position in R & D and our position as the most active investor into UK university spin-outs, but also the Government’s recognition of the importance of this high quality sector.
“The launch of this new fund coincides with the hiring of three new individuals to the Parkwalk team following another successful year as investors recognise the opportunity in backing knowledge intensive start-ups.”
The Parkwalk Knowledge Intensive EIS Fund II can offer investors the option to carry back income tax relief to tax years 2020/21 or 2021/22, and provides more certainty in claiming income tax relief, with the date on the EIS5 certificate the same as the Fund close date, which is 1st April 2022. For more information see our Knowledge Intensive EIS Fund page here.
Parkwalk Advisors Limited (Parkwalk) is authorised and regulated by the Financial Conduct Authority: FRN 502237. Investments referred to in this news article are not suitable for all investors. Capital is at risk and investors may not get back the full amount invested. Tax reliefs subject to individual circumstances. Any investment in a Parkwalk product must only be made on the basis of the terms of the full Information Memorandum. Tax treatment depends on the individual circumstances of each investor. Parkwalk is not able to provide advice as to the suitability of investing in any product.