Earthworm Impact EIS Fund

Earthworm Impact EIS Fund

STRUCTUREFund
MIN. INVESTMENT£10,000
SECTORImpact
CLOSING DATEEvergreen
Risk score
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Synthetic Risk and Reward Indicator (SRRI) is calculated by the fund manager following guidelines set out by the European Securities and Markets Authority (ESMA)

The content below has been provided by Earthworm Limited who are authorised and regulated by the Financial Conduct Authority under firm registration number 797051.
Earthworm Limited
Oversubscribed

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Summary

Earthworm believes the world is changing, and we all need to be more responsible for the decisions we make and the impact that we can have on the world and communities around us.

They care passionately about changing our environment for the better, and need the help of their investors to do it. But it isn’t one sided – Earthworm balance profits and principles. Their purpose is to look after the planet that we all live on, but not at the expense of investors.

Their investee companies are carefully selected and will aim to grow revenues, create employment and be the kind of businesses that Earthworm and investors can be proud of. Investors in the Fund really are putting their money where their future is.

Highlights

  • Investment in companies making a positive environmental or social difference to our world
  • Funds deployed to date are over £75m
  • Target of five Investee Companies per Investor, with a minimum of three per investment
  • All Investee Companies have EIS Advance Assurance from HMRC prior to any investments being made.

Investment strategy

This Fund is an impact EIS fund and is here to make a difference to the world we live in.

The team have built their investment model around only backing ventures that, first and foremost, are considered sustainable and have some positive environmental or social impact. Earthworm's investee companies are carefully selected and will aim to grow revenues, create employment and be the kind of businesses that both Earthworm and their investors can be proud of. 

Monies raised by the Fund will be deployed into EIS qualifying companies that are seeking to grow and develop businesses in the environmental sector, normally with a focus on at least one of Earthworm's three core areas: food, energy and waste.

The impact these businesses may be seeking to create is wide ranging. For example, they may be targeting an improvement in the UK’s recycling rate, or ensuring that the UK can stand on its own in energy generation and food production as it enters an uncertain political and economic climate.

Risks

Please read the Information Memorandum for the full risk warnings. Risk factors include: 

Taxation 

Tax rates, benefits and qualification criteria described in the fund documentation may change from time to time and are not guaranteed.

Liquidity

Any investment should be considered a long-term investment in unquoted, illiquid companies, which are higher risk than exchange traded securities. Earthworm invest for growth not for income, so investors should not expect to receive regular dividends.

Performance

There is no guarantee that the objectives of the fund or the investee companies will be achieved and investors may lose some or all of the amount invested.

Regulation and Commercial

The investee companies’ revenue streams may be reduced by changes in legislation or by normal commercial risks such as delays, cost overruns or technical issues.

Products and services

The Earthworm Impact EIS Fund identifies and invests in businesses which make a positive environmental or social impact, with a particular focus on companies in the food, energy and waste sectors.

Food

Climate change and population growth is having an adverse impact on the world’s ability to sustainably feed itself. Over the next 30 years, world agricultural production will need to increase by approximately 60% in order to meet expected population increases. In the UK, the population is predicted to grow to more than 70 million by 2030. Put simply, we need more space to grow food. The Fund is committed to investing in solutions, from sustainable vertical food production to hydroponics and other efficient food production technologies. 

Energy

Earthworm's energy opportunities will cover a broad range of requirements to help the UK transition to a sustainable, circular economy. The company's focus is on increasing energy efficiency, preserving natural resources and energy use. For example, AI monitoring of consumption and asset management can promote behavioural change, as well as minimise the loss of resources. As technology advances, the investments they focus on can help empower the consumer to manage natural resources.

Waste

Earthworm want to concentrate on investing in companies with the potential to reduce waste and increase the UK’s capability to recycle organics, metals and plastics on a much bigger and more sustainable scale. Landfill tax charges are currently at record highs – so both waste collection and disposal are as bad for the taxpayer as they are for the environment. The simple fact is that the UK does not have the facilities it needs; instead waste is exported to Europe and beyond at considerable cost (in every sense!). For example, over 7m tonnes of biodegradable municipal waste continues to go to landfill every year. 

Key team

Kerry Hughes - Head of Portfolio and Investment

Kerry leads the investment team in the identification, structuring and execution of new deals as well as managing the portfolio of existing investments. She brings a wealth of experience in both the equity investment and debt space gained over the past 10 years.

Hannah Cohen - Head of Retail Sales

Hannah has over 10 years’ experience in building, maintaining and developing client relationships with industry professionals and high net worth individuals in the financial services sector. She heads up Earthworm’s retail sales function.

Will Brocklebank - Managing Director

Will is a serial entrepreneur who has 20 years’ experience of raising and investing capital. In the past Will has been an investment manager for specialist US equities firm, Findlay Park, and has raised capital from leading VCs and angel investors. 

Documents

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