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A Change of Braveheart




By Ryan Weeks on 30th April 2015


The first equity crowdfunding focused fund has turned its attentions to Seedrs, and away from Crowdcube.

 

Strathtay Ventures – an arm of the Braveheart Investment Group – was tasked with the management of the “Crowdcube Venture Fund” back in late January 2014. The idea was to allow the platform’s private backers to invest in startups through the medium of a managed fund for as little as £2,500, rather than hand-selecting their own investment opportunities. The Venture Fund would offer to provide investors with a tailor-made equity portfolio, comprised of shareholdings in 10 different early-stage businesses – compiled in accordance with the preferences of each individual investor.

 

Braveheart launched in 1997 and currently has about £121m of funds under management, according to its website. Investors in the “Crowdcube Venture Fund” were eligible for up to 30% of EIS relief – as they often would be when investing in individual deals. All appeared well.

 

Braveheart has now lifted the initiative over to the Seedrs platform – terminating its relationship with Crowdcube. Seedrs will feed the fund’s hunger for deal flow over the coming months. The platform is pointing to the quality of its processes – painstaking due diligence, watertight investor protections, etc. – as the key driver behind Braveheart’s decision to relocate.

 

Geoffrey Thomson, CEO of Braveheart Investment Group, offered his take:

 

Seedrs is an outstanding platform with considerable investment expertise. Working with Seedrs will allow us to get exposure to its strong network of high growth companies while taking advantage of its highly effective investment processes. We know we’re in good hands partnering with the Seedrs team, and we look forward to working together as we build this relationship.”

 

Based on the official announcement, the Braveheart fund will seemingly be co-investing in equity opportunities via the Seedrs platform, alongside those backers that choose to invest directly.

 

An interesting shift in industry politics. We’ll continue to monitor the situation.

 

Jeff Lynn, CEO of the Seedrs platform, also commented:

 

“Braveheart is an experienced institutional investment manager with a strong and tangible track record of investing into ambitious, growth focused businesses. We are delighted that it has decided to move to Seedrs, and we very much look forward to providing it with the very highest level of service and professionalism.”

 

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