Seneca Partners pumps £10m into SME sector

Seneca Partners has invested more than £10m in SMEs through the Enterprise Investment Scheme (EIS) during Q1 2017.

The professional services firm completed nine EIS qualifying investments in the quarter, of which four were advised by the corporate team at Hill Dickinson.

Seneca’s EIS Portfolio Service has now attracted investments totalling more than £40m, boosting 33 companies in 58 separate funding rounds.

John Davies, investment director at Seneca, said: “It’s been a busy period for our EIS investment team completing nine deals in the final quarter of the 2016/17 tax year, ensuring that the majority of our investors benefited from full investment in the 2016/17 tax year.

“EIS continues to be a very attractive way of investing in SMEs due to the beneficial tax reliefs available, which include 30% income tax relief on the amount invested and CGT free profits.

“With the strength of our current pipeline of EIS Growth Capital investment opportunities, we expect to invest at least £10m during the first two quarters of tax year 2017/18 alone.”

Launched in 2013, the EIS is designed to help SMEs raise funds by offering various tax reliefs to investors buying shares in those companies.

The EIS Portfolio Service is just one of Seneca Partner’s professional services offerings, after expanding its services to also cover private equity, debt, property and corporate finance advice.

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