Blackfinch Ventures invests £11m into 17 early-stage and growth-stage companies ahead of tax year-end
- On April 19, 2023
- By GrowthInvest Marketing
Ahead of the tax year-end deadline, Blackfinch Ventures has completed investment deals valued at £11m into 17 early-stage UK companies.
The funds were raised through Blackfinch’s Enterprise Investment Scheme (EIS) portfolios, which invests in innovative UK early-stage technology companies operating across a variety of sectors, as well as the Blackfinch Spring Venture Capital Trust (VCT), which invests primarily in technology-enabled companies that are already generating revenues and building their customer base.
As a result of the rapid deployment of funds, Blackfinch investors benefit from instant ownership of highly diversified investment portfolios while also being eligible to claim tax reliefs for the 2022/2023 tax year.
For the Blackfinch EIS portfolios, a total of £7.8m was invested into 17 companies, whilst for the Blackfinch Spring VCT, a total of £3.2m was invested into 13 companies. Funds will be used by investee companies to expand their teams, deliver exciting product developments, ramp up sales activity and kick start international expansion plans.
The move sees three exciting new businesses join the ever-growing Blackfinch Ventures portfolio, with MarTech 3D, RideTandem and Up Learn collectively securing a total of £2.7m. A further 14 companies, including Watchmycompetitor, Culture Shift, Clientshare, Illuma, StaffCircle and Tended received follow-on investments to reach their next stage of growth.
Commenting on the new investments, Dr Reuben Wilcock, Head of Ventures at Blackfinch, said: “Once again we are proud to be backing some of the UK’s most talented founders and their teams, while also assembling well-diversified tech-led portfolios for a growing number of Blackfinch investors.
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