Green Angel Syndicate EIS Climate Change Fund 3

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Green Angel Syndicate (GAS) is one of the largest angel syndicates in the UK, and the only one specialising in the fight against climate change. On October 26th 2021, GAS launched its 3rd GAS EIS Climate Change Fund. The Climate Change Fund is unequivocal in its purpose and commitment: drawing upon Green Angel Syndicate’s expert specialisation, it will invest exclusively in companies which contribute to the fight against climate change, and which can generate positive investment returns from doing so.

  • EIS / SEIS
    Fund Type
  • £15,000
    Min. Investment
  • Climate Change
    Sector
  • Evergreen
    Closing Date

The GAS Climate Change Fund is restricted to professional clients, and as such, after completing your application, you will be asked to sign a Notice of Acceptance to be treated as an Elective Professional Client. This will be to confirm you have sufficient experience and understanding of the transactions and services envisaged to assess the suitability of such investments and services, and that you are aware of the risks involved.

Being treated as an Elective Professional Client means you will lose the protections afforded to Retail Clients under the Rules of the Financial Conduct Authority (“FCA”).

Why does Climate Change matter?

Climate change is a threat to all of us. In the past 12 months, we have seen rising global temperatures shrinking Arctic sea ice to its second-lowest level on record; droughts in the African desert pushing more farmers to migrate; record dry weather in many parts of the world enabling some of the worst wildfires seen in living memory in the USA and Australia. Closer to home, flooding is regularily on our news screesn - and this is all happening with global warming of just 1°C. As temperatures continue to rise and feedback loops accelerate, these disasters will get worse - with catastrophic consequences for humans and for the entire globe(1). In the week following our launch, we will see world leaders assemble in Glasgow at COP26 to debate Climate Change and the actions we must take now to ensure we are protected from these disasters.

What can we do about Climate Change?

Climate change is a consequence of the gradual warming of the planet over the last century, which has accelerated in the last 50 years. The same capacity of the atmosphere to trap the warmth of the sun and provide a viable, temperate climate in which we can live comfortably is now threatening life. It has started to trap too much warmth. This change is principally a result of the concentration of CO2 molecules in the atmosphere. In the lifetime of the human race until this century, there have never been more than 350 parts per million in Earth’s atmosphere(2). There are now more than 419. It is quite easy to see what we can do about Climate Change. Stop putting carbon dioxide and other harmful gases into the atmosphere. We have to stop, and we have to stop now.

But it is difficult to do. Our entire global economy needs to transition from a hydrocarbon base to a renewable, non-emitting base. We need to change how we live our daily lives, from the way we heat ourselves to the way we travel, clothe ourselves and consume food. This requires substantial interlinked innovations to help effect change.

This need - now widely understood and accepted - creates compelling commercial opportunities. The companies which succeed in addressing these opportunities will be the ones which have a positive impact in the fight against climate change. Therefore financial success goes hand in hand with a positive impact.

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Highlights

  • Take advantage of Green Angel Syndicate’s unique climate change specialisation - having invested in 28 different early stage businesses so far across all the relevant economic sectors.
  • Diversify your unquoted investment portfolio by investing in many different types of deals.
  • Spread the risk across all new GAS investments - targeting 10-15+ different companies.
  • Benefit from SEIS or EIS tax relief (subject to individual circumstances and subject to change).
  • Enable your money to make a return for you at the same time as making a return for the environment.

Investment strategy

• The Fund will only invest in companies and rounds where EIS is available.

• The Fund will only co-invest with the GAS Angel Syndicate: if the Angel Syndicate invests in a particular company, then the Fund invests too, and if the Angel Syndicate does not, then the Fund does not.

• The Fund’s aim is to invest each individual Fund Investor’s money in 10-15+ companies.

• The aim is to deploy the Fund’s money within 12 months after the Investment Date.

• No more than 15% of an investor’s money will be invested in any one company.

• Fund investors will hold direct stakes (through a nominee) in individual investee companies.

• GAS’ remit is to invest in innovative early stage companies which contribute to the fight against climate change. This includes cutting greenhouse gas emissions, absorbing carbon dioxide, or preserving or rehabilitating the natural environment. The Fund will look at all relevant sectors including, but not limited to, energy, transportation, buildings, agriculture, food and industry.

Portfolio companies

Key team

Antoine Pradayrol - Chief Investment Officer

Antoine is an experienced early stage investor focusing on the cleantech space. Since 2015, he has built a portfolio of 20 early stage investments across the energy transition sector, clean transportation and smart cities, energy efficiency solutions, circular economy, robotics, and edtech. Antoine is actively supporting founders as part of Imperial College London’s Venture Mentoring Service, as a Director at Zedify and as a Board observer at AirEx. Prior to joining GAS in 2017, Antoine had more than 15 years of experience in finance, as an equity research analyst covering the telecom sector. He was an Executive Director and partner with Exane BNP Paribas, first in Paris and then in London. Antoine studied at Ecole Polytechnique (economics and finance) and Telecom ParisTech (technology and telecoms). 

Nick Lyth - Chief Executive Officer, Director

 Nick founded Green Angel Syndicate in 2013 as an experiment to fight climate change and global warming, with ten members, and two company investments. GAS as it is today was relaunched in 2017 and now has over 200 members, 24 companies in its portfolio, and is currently the UKBAA’s Angel Syndicate of the Year. Nick is a marketing and sales specialist with over ten years of experience building up International Resources and Recycling Institute (IRRI), an applied research institute in resource use systems, technologies and processes. Nick speaks regularly at conferences around the UK and Europe on matters concerning sustainable resources, and has been invited to assess numerous innovation competitions in the UK. He has served on charitable Boards for the Big Issue Scotland, and Dundee Cyrenians, as well as many commercial Boards in a variety of sectors. 

Cam Ross - Chief Operating Officer, Director

Prior to joining Green Angel Syndicate, Cam co-founded, jointly ran and raised two rounds of angel funding for a contact centre payments business, with an exit to AIM-listed Eckoh. Cam is an Aeronautical Engineer by training, and has experience in creating, commercialising and patenting new technology. He has more than a dozen granted patents in the fields of telecommunications, payments and customer authentication. He has a practical ability to analyse and improve complex processes, from manufacturing to software systems. As Green Angel Syndicate COO, Cam and his team manage deal flow, systems, due diligence and post-investment engagement. Cam is also a Board member of SocietyWorks, the commercial arm of the not-for-profit social enterprise mySociety, which builds technology to help democracy and community in the UK and overseas.  

Exit strategy

Each portfolio company in the fund will have its own exit strategy. Exits can typically take from 4 to 10 years to materialise.

Fee summary

Fees charged by the Fund Manager to the Investor:

• An Initial Charge of 1.50% + VAT of the Investor’s commitment.

• A Performance Fee of 25% of the Investor’s profits, once the Investor has received back his or her initial Subscription Amount.

Fees charged by Green Angel Syndicate to Investee Companies:

• GAS will charge an Investment Fee of 5% + VAT of the amount invested by the Fund in the Investee Company;

• GAS has the right to an Annual Management Fee of 2% + VAT per annum of the amount invested by the Fund in the Investee Company.

Please refer to details of the Fees & Charges in Schedule 1 of the Fund Management Agreement.

Risks

Investment in early-stage companies involves risks such as illiquidity, lack of dividends, loss of investment and dilution. Investment in SEIS/EIS eligible companies should be considered as part of a diversified portfolio. The availability of tax relief depends on individual circumstances and may change in the future. The availability of tax relief depends on the company invested in maintaining its SEIS/EIS qualifying status. There is no assurance that the investment objectives of any investment opportunity will be achieved or that the strategies and methods described herein will be successful. The investment products cited herein may place capital at risk and therefore investors may not get back the full amount invested. Past performance is not necessarily a guide to future performance and the value of an investment may go down as well as up. Investors may not get back the full amount invested The fund will primarily invest in either identified start-ups or known early stage opportunities. This focus increases both the risks and the potential rewards for Investors. Potential Investors are recommended to seek independent financial and tax advice before committing. Please note that an investment in the fund is speculative and the manager is unable to provide you with advice about whether you should commit to the fund.

Documents

Only registered investors can access the documents. Receive access by registering for an account.

Invest now

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The content above has been provided by Green Angel Syndicate, an Appointed Representative of SFC Capital Partners who are authorised and regulated by the Financial Conduct Authority under firm registration number 736284.