Adviser left with ‘bad taste’ after green EIS goes under
- On December 16, 2020
- By GrowthInvest Marketing
An adviser said he was left with a “bad taste in the mouth” after a green enterprise investment scheme used by his clients went into administration.
In a letter seen by FTAdviser, Earthworm — which runs an Impact EIS fund and a Seed EIS portfolio — told advisers the pandemic had been an “extremely challenging time” for the firm and that a decision had been made with “significant regret” to close the company.
Administrators Leonard Curtis said the company’s fundraising opportunities had been “significantly diminished” due to the Covid-19 pandemic, which had ultimately impacted Earthworm’s ability to generate revenue.
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