Great Point Ventures EIS

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Offers investors an exciting opportunity to invest across a portfolio of UK based businesses operating in the creative industries.

  • £20,000
    Min. Investment
  • Media
    Sector
  • EIS
    Fund Type
  • Evergreen
    Closing Date

Great Point Media has a strong and unique track record in the management of media EIS companies. Together, members of the Great Point team currently manage over 150 EIS, SEIS and BPR qualifying companies focusing on content development, creation and production. Furthermore, Great Point Media has extensive experience in the process involved in EIS management, with a strong track record in efficient delivery of tax certificates and client service.

Highlights

  • Proven track record in making growth focused investments
  • Strong industry relationships
  • Expertise in media-specific venture capital and corporate finance
  • Expertise in the management of EIS qualifying businesses and funds
  • A pipeline of high quality investment opportunities
  • Access to off-market media opportunities and sector-specific influencers

Market approach

Our team provides a unique blend of expertise across entertainment media and the management of alternative investments.

Collectively, the team has:

More than 60 years combined experience in entertainment media

Over 300 production credits in film and television

Produced, financed and distributed more than $2bn worth of entertainment content

Managed over 250 EIS and SEIS qualifying companies with combined capital base of over £400m

Investment strategy

The investment policy of the Fund is designed to provide you with exposure to investments in unquoted companies qualifying for the benefits of the Enterprise Investment Scheme (“EIS”).

The Fund will benefit from the extensive knowledge and network of industry relationships of Great Point Media and a number of consultants who specialise in investments into high-growth companies in the media sector.

The Fund has a targeted focus on the media sector but has a broad sub-sector approach designed to offer diversification. The Fund will therefore aim to invest in companies involved in:

• Content creation

• Content distribution and marketing

• Production facilities and services

• Future media and technology

Key team

Jim Reeve - Group Chief Executive Officer

Jim is an Emmy award winning producer with over 25 years’ experience in the development, production, financing and distribution of television programmes and films, with credits including Foyle’s War and Jack Higgins’ On Dangerous Ground.

Jim has worked extensively in media EIS and SEIS businesses and over the past decade has managed over £300m worth of EIS investment in television content.


Kok-yee Yau - Group Chief Operating Officer

Kok-yee specialises in sourcing and evaluating suitable EIS opportunities within the television sector, and has overseen the production of over 100 television programmes.

Kok-yee qualified as a chartered accountant at Grant Thornton, focussing on the audit of companies in the media and financial services sectors. She has also worked at the global alternative hedge fund manager, Man Investments, within the structured products valuation team.


Dan Perkins - Managing Director

Dan is a qualified chartered accountant with significant experience in the management and capital raising for alternative investment opportunities, including Corporate Venturing, EIS and BR investments.

Prior to joining GPM, Dan was an Investment Director with a leading media investment boutique responsible for investment and distribution strategy. Previously, Dan spent four years at a Big Four accountancy firm providing corporation tax advisory and compliance services to companies across a broad range of sectors.


Fee summary

A 20% Performance Fee on Fund returns over 120% is payable by the investor.

Please see section below for standard fees

Risks

Investment Risks

• The value of EIS Qualifying Shares and income from them can go down as well as up. An Investor may not get back the full amount invested and may, therefore, lose some or all of their investment.

• Assumptions, projections, intentions, illustrations or targets included within this Information Memorandum cannot and do not constitute a definitive forecast of how the Fund and/or its investments will perform.

• All investments of the Fund will be in unquoted media companies. Such companies operate in a competitive market and may not produce the anticipated returns, which could affect an Investor’s ability to realise their initial investment.

Investments made by the Fund are unlikely to be readily realisable and due to their unquoted nature,may be difficult to value.

• Investor returns will be reliant on the commercial performance of the Companies.

• The performance of the Fund is contingent on the Manager being able to identify suitable Companies which carry on, and continue to carry on, an EIS Qualifying Trade for the Expected Minimum Period of Trade. There is no guarantee that the objectives of the Fund will be met.

• The Manager intends to invest the Fund across a portfolio of Companies. However, there is a risk that the Fund’s investments will be relatively concentrated and the total return to Investors may therefore be adversely affected by the unfavourable performance of a small number of Companies. Where there is less opportunity to diversify investments across a larger range of Companies returns could be more volatile.

• The Companies will typically have small management teams and therefore will be dependent to a large degree on the abilities and experience of a small number of people.

• Each Investor should note that it is possible that other taxes or costs may arise for the Investor in connection with its investment in the Fund that are not paid via, or imposed by, the Manager.

• It may not be possible to meet the investment timetable of 18 months, which would delay the availability of EIS Relief and the financial year in respect of which a claim for EIS Relief could be made.

• The returns accruing to the Fund by way of holdings of cash deposits or money market funds will principally be affected by fluctuations in interest rates.

• Investors may find it difficult to sell their interest in the Fund as there is currently no market for the EIS Qualifying Shares in the Companies for which the Fund intends to subscribe.

Taxation Risks

• Prospective Investors should be aware that the various tax benefits described in this Information Memorandum are based on the Manager’s understanding of the existing tax legislation and HMRC practice. Such interpretation may be incorrect, and it is possible that tax legislation may change in the future which would adversely affect the performance of the Fund and/or the economic position of the Investor.

• The amount of EIS Relief an Investor may gain from subscription to the Fund depends on their own personal

circumstances. Therefore, EIS Relief may not be available to all Investors and/or may be lost by Investors in certain circumstances.

• Tax law is complex and prospective Investors should seek independent tax advice to determine and understand the suitability of investing in the Fund and any effect that this may have on their own position generally.

• The Manager will take all reasonable steps to ensure the Companies have obtained HMRC advance assurance that EIS Relief will be available for all investments made by the Fund, but no guarantee can be given that this will be granted. Further, tax relief could subsequently be withdrawn or modified in certain circumstances and neither the Manager nor the Custodian accepts any liability for any loss or damages suffered by an Investor or other person as

a consequence of such relief being denied or withdrawn or reduced.

• An Investor may lose some or all of the tax benefits derived under the EIS if they fail to comply with the relevant legislation.

• An Investor whose pro-rata beneficial interest in a Company, in combination with that of their associates, amounts to more than 30% of the capital, voting rights or assets on a winding up will be deemed to be “connected” for the purposes of the EIS legislation and in such circumstances will not be entitled to claim income tax relief in relation to that investment.

• Where a Company ceases to carry on an EIS Qualifying Trade during the Expected Minimum Period of Trade,

whether through the actions taken by the Company or otherwise, its EIS qualifying status may be adversely affected.

• Any disposal of EIS Qualifying Shares during the Expected Minimum Period of Trade will crystallise an obligation to repay the income tax relief and capital gains tax deferral relief claimed in respect of those shares and any capital gain accruing on such disposal will not be exempt from CGT.

• Companies must employ all of the EIS funding they raise in their Qualifying Trade within two years of issuing the relevant EIS Qualifying Shares.

• If a Company fails to meet the EIS qualifying requirements: (i) Investors may, as a result, be required to repay 30% income tax relief received on a particular investment (along with any related interest); (ii) a liability to CGT may arise

on the subsequent disposal of the relevant EIS Qualifying Shares; and (iii) any Investors may be required to repay capital gains deferral relief received on a particular investment (along with any related interest).

Risks Relating to the Media Industry

• The level of return to Investors will be a function of the economic performance of the Companies and the

commercial terms which each Company is able to secure in respect of its trade.

• Each Company will be responsible for operating in line with the business plan agreed upon prior to investment by the Fund.

• The value of each Company may go down as well as up. Investors may therefore realise less than their original investment.

• Each Company may be exposed to currency risk as a portion of its revenues earned through its trade may arise in foreign currency, the value of which may be affected by movements in exchange rates.

Documents

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The content above has been provided by Great Point Investments Limited who are authorised and regulated by the Financial Conduct Authority under firm registration number 606798.