Investment firm achieves £24m cash realisation for investors

Victoria Edwards

Financial firm Seneca Partners, the Newton-le-Willows-based specialist SME investment business, has announced a further £24m cash realisation for a large number of its Enterprise Investment Scheme (EIS) investors.

Seneca is one of the UK’s largest EIS providers having already provided cash realisations of more than £40m from more than 25 full and partial exits to date.

Seneca Partners’ most recent £24m cash return brings the total it has returned to EIS investors to £65m overall.

Victoria Edwards, equity investment director of Seneca Partners, said: “At a time when many product providers talk to levels of funds raised, at Seneca Partners our opinion is that the only true measure of success comes in the amount of cash we are ultimately able to return to our investors.

“This most recent £24m is a further example of our credentials in this area.”

She added: “Seneca Partners’ track record of providing healthy cash returns to our investors is clearly the attraction for those IFAs and wealth managers who use our products for their clients.

“Having now provided over £65m in tax free cash realisations for our investors under the EIS scheme, it proves that strong investment selection and hands-on management can reap handsome rewards. This is, of course, in addition to the 30% up front tax relief claimed by investors under EIS rules.”

Seneca Partners manages the Seneca EIS Portfolio, the Seneca AIM EIS Portfolio and Seneca Growth Capital VCT through which more than £130m of growth capital has been provided to eligible private and AIM-quoted businesses.