An enterprise investment scheme fund manager has launched one of the first taxman-approved knowledge intensive EIS funds, providing investors with tax relief at a pre-determined date.

Parkwalk told FTAdviser it had launched the fund, which invests in “groundbreaking deeptech businesses spun out of UK universities”, to run alongside its £330m flagship Parkwalk Opportunities EIS fund.

Investors are recommended to hold the fund for four to eight years, which comes with an entry fee of 3 per cent for advised investors, annual management fee of 1.5 per cent and a performance fee of 20 per cent on profits.

The Parkwalk EIS Knowledge Intensive fund works within the government’s recent changes to EIS rules.

From April 2020, at least 80 per cent of funds raised in an approved EIS fund structure must be invested in knowledge intensive companies.

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