Seneca clocks up £10m of investments in Q1
SME-focused professional services firm Seneca Partners has completed nine Enterprise Investment Scheme investments in the first quarter of 2017, totalling more than £10m.
Warrington-based Seneca’s EIS portfolio service has now attracted total funds from investors in excess of £40m which has been used to provide funding to 33 companies via 58 separate funding rounds, and according to investment director John Davies, there’s much more to come.
He said: “It’s been a busy period for our EIS investment team completing nine deals in the final quarter of the 16/17 tax year, ensuring that the majority of our investors benefited from full investment in the 16/17 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.”
As a group, Seneca continues to expand its services to investors and SMEs. Seneca’s capabilities now cover private equity, debt, property and corporate finance advisory in addition to fund management and tax efficient investment products.
Four of the nine EIS investments made in Q1 2017 were advised by the corporate team at Hill Dickinson, led by Jonathon Gillow.
