Braveheart's Viking brings tax breaks to business backers

Published on Monday 24 January 2011 21:26

Braveheart Investment Group has launched a fund aimed at business angels and wealthy individuals looking to invest in "dynamic young companies".

The new Viking Growth Fund is aimed at providing investors with a portfolio of fledgling businesses that have "market potential on a global scale", in a tax-efficient structure. UK investors will be able to take advantage of favourable tax treatments associated with the Enterprise Investment Scheme (EIS) regime, Perth-based Braveheart said.

Although investments will be high risk, Viking will seek to build a balanced portfolio with exposure to various industry sectors and stages of company development. Investments will be mainly in technology and will include follow-ons into the existing Braveheart portfolio and also new companies.

Braveheart chief executive Geoffrey Thomson said: "In tax-efficient investment, there is an alternative to venture capital trusts. EIS reliefs can boost net investor returns and offer a measure of downside protection.

"We believe the fund will be attractive to experienced private investors seeking exposure to promising UK companies with international potential, together with tax-efficient strategies to protect their assets from inflation."

The fund will close to applications on 31 March. Individuals can invest between 10,000 and 500,000. There is no minimum or maximum size of the fund.

Viking will be managed chiefly from an EIS perspective and exits will be sought in three to five years, although earlier sales will be taken if "appropriately profitable opportunities present themselves", Braveheart said.

It is anticipated that the fund will be wound up at the end of year five.

Braveheart's most recent investments include 260,000 into a new "pay-as-you-go" gym venture and 1.5 million into a technology firm specialising in charging points for electric cars.