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These Terms and Conditions were last revised in October 2016.

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Company and Website information

Investors in the Startup Funding Club SEIS/EIS 2017 Fund and Epicure SEIS Fund can, subject to their own individual circumstances, obtain tax reliefs under the Enterprise Investment Scheme (“EIS”) and Seed Enterprise Investment Scheme (“SEIS”). Startup Funding Club’s other SEIS and EIS funds (together with the Startup Funding Club SEIS/EIS 2017 Fund, the “SFC Funds”) are managed by Innvotec Ltd, a limited company registered in England under number 02030086 and whose registered office is at Stable Cottage, Castle Hill, Rotherfield, East Sussex TN6 3R. The Epicure SEIS Fund however will be managed by Enterprise Investment Partners (‘EIP’), a LLP registered in England whose registered Hyde Park House, 5 Manfred Road, London SW15 2RS. Startup Funding Club Ltd (“SFC”) is a limited company registered in England and Wales, registered under number 8191242 and whose registered office is St Georges Court, Winnington Avenue, Northwich, Cheshire, CW8 4EE SFC is the strategic adviser to the fund managers of all Funds.

Regulated by the Financial Conduct Authority

Innvotec is authorised and regulated by the Financial Conduct Authority (“FCA”) with the firm reference number 122365. Innvotec has approved the content of the sections of this website relating to the Startup Funding Club Funds, and the information memorandum relating to the SFC SEIS/EIS 2017, for the purpose of section 21 of the Financial Services and Markets Act 2000.

EIS LLP is authorised and regulated by the Financial Conduct Authority with the firm reference number 604439. Enterprise Investment Partners has approved the content of the sections of this website relating to the Epicure SEIS Fund, and the information memorandum relating to the Epicure SEIS Fund, for the purpose of section 21 of the Financial Services and Markets Act 2000.

Startup Funding Club FCA Status

Startup Funding Club Limited (“SFC”) is not currently regulated by the Financial Conduct Authority and is not a registered broker or any other regulated entity. SFC does not sell or offer to sell any securities. Neither SFC nor its personnel are providing financial advice in relation to any investments. We therefore recommend that companies seek financial advice from an independent financial advisor authorised pursuant to the Financial Services and Markets Act 2000.

Startup Funding Club Ltd is not regulated by the FCA and is not a registered broker or dealer or any other regulated entity. Startup Funding Club Ltd does not sell or offer to sell any securities and no information provided by Startup Funding Club Ltd is intended to constitute or to be interpreted as any such offer.

Intended Audience and Use of Information

The information on this website is directed only at persons in the UK and does not constitute advice of any kind (including investment, legal or tax advice). It does not amount to an offer or invitation to buy or sell an investment in any fund referred to on this website. It also does not solicit any offer or invitation from companies seeking investment capital in any jurisdiction other than the UK. Investment in the SFC Funds referred to on this website are not intended to non-UK residents. Persons resident in territories other than the UK should consult their professional advisers as to whether they require any governmental or other consent or need to observe any formalities to enable them to invest in the products described in these pages. Investors should not rely on any information or opinions contained in this website in making an investment or other decision but should obtain appropriate and specific professional advice.

Applications to Invest in the Startup Funding Club SEIS/EIS 2017 Fund

Applications to invest in the Startup Funding Club SEIS and EIS should ONLY be made on the basis of the information set out in the fund’s information memorandum and subject to the terms of the Fund Management Agreement, a copy of which accompanies the Application Form.

Partizipation in the Startup Funding Club SEIS/EIS 2017, like all other Startup Funding Club funds, is limited to high net worth individuals, sophisticated and professional investors, who can be assessed as having the expertise, experience and knowledge to make their own investment decisions and to understand the risks involved in EIS and SEIS investment.

Accordingly, this website and the Startup Funding Club SEIS/EIS 2017 information memorandum and application form available for download herein do not constitute an offer by Innvotec or SFC or any other person for you to enter into an agreement with Innvotec to act as your discretionary investment manager unless Innvotec is able to categorise you as a person who has the necessary experience, expertise and knowledge to be capable of making their own investment decisions and understanding the risks of investing in the Startup Funding Club SEIS/EIS 2017 Fund.

If you are in any doubt, you should not invest in the Startup Funding Club SEIS/EIS 2017 Fund without having first taken personal financial advice as to its appropriateness and suitability for you as an investment from your stockbroker, authorised financial intermediary (such as an IFA), bank manager, solicitor or other person authorised by the FCA.

Applications to Invest in the Epicure SEIS Fund

Applications to invest in the Epicure SEIS Fund should ONLY be made on the basis of the information set out in the fund’s information memorandum which describes the fund and the terms and conditions of the investor’s agreement pursuant to which investors will invest.

Partizipation in the Epicure SEIS funds, limited to high net worth individuals, sophisticated and professional investors, who can be assessed as having the expertise, experience and knowledge to make their own investment decisions and to understand the risks involved in EIS and SEIS investment.

Accordingly, this website and the Epicure SEIS Fund information memorandum and application form available for download herein, do not constitute an offer by Enterprise Investment Partners or SFC or any other person for you to enter an agreement with Enterprise Investment Partners to act as your discretionary investment manager unless EIP is able to categorise you as a person who has the necessary experience, expertise and knowledge to be capable of making their own investment decisions and understanding the risks of investing in the Epicure SEIS Fund.

If you are in any doubt, you should not invest in the Epicure SEIS Fund without having first taken personal financial advice as to its appropriateness and suitability for you as an investment from your stockbroker, authorised financial intermediary (such as an IFA), bank manager, solicitor or other person authorised by the FCA.

General Risks

As a prospective investor in the SFC Funds, you should be aware that there are numerous risks associated with venture capital and particularly investments that qualify for tax relief under the EIS and/or SEIS. Those risks that Innvotec, EIP and Startup Funding Club are aware of and deem to be material are set out in detail in the information memoranda relating to the SFC Funds and prospective investors should thoroughly read, understand and familiarise themselves with these risks and consult an authorised financial intermediary prior to making any investment in the Fund. However, you should note that there may be additional risks that Innvotec, Enterprise Investment Partners and SFC are not aware of or currently believe not to be material which may have a detrimental effect on the value of investments. Past performance of the existing funds is not necessarily a guide to future performance. The value of an investment may go down as well as up, in which case an investor may not get back the amount invested. Investments in small unquoted companies carry an above-average level of risk. Neither Innvotec, nor Enterprise Investment Partners, nor SFC nor any associated companies provide specific individual advice on the suitability of investment with regard to a potential investor’s individual circumstances, risk tolerance or investment objectives and investors should seek independent financial advice if they are in any doubt whether a product is suitable for them. It is the responsibility of investors to satisfy themselves that any investments made are suitable for them and applications may be made only by using the appropriate application forms.

Risks specific to EIS and Seed EIS Funds

Investing in smaller, unquoted companies which constitute SEIS or EIS qualifying companies is a high risk investment strategy. Proper information for determining the value of such investments or the risks to which they are exposed may not be available. Investments in SEIS or EIS qualifying companies can offer good investment returns but by their nature are illiquid and uncertain and consequently involve a higher degree of risk than a portfolio of quoted shares. Realisation of investments in unquoted companies can be difficult and may take considerable time. There is no liquid market on any public exchange or elsewhere; as such, an investment in the type of companies in which SFC Funds will invest will not be readily realisable. To qualify for the up-front income tax relief and capital gains reliefs available, an investor must retain those shares held through the SFC Funds for a minimum period of three years from the subscription date. Failure to do so will lead to HMRC clawing back any of the reliefs claimed. HMRC may also claw back any reliefs claimed if the investor has received value from an investee company. Furthermore, although SFC and EIS will take reasonable steps to ensure that investee companies are qualifying companies for the purposes of the SEIS or EIS, there is a possibility that an investee company may lose its qualifying status and again, this may lead to tax reliefs being clawed back by HMRC in relation to that particular investment. EIS and SFC can make no guarantees as to an investee company’s qualifying status for the SEIS or EIS. Investors should also be aware that while the SFC Funds have been set up to comply with current legislation, it may be the case that the applicable legislation is amended or withdrawn leading to the reduction or withdrawal of any opportunities for tax reliefs.

Privacy Policy

Any information you provide to us will be used to administer your requirements and determine the information and documentation that we will send you. Occasionally we may also use your details to inform you of other features, services and products which we think you may be interested in and we may contact you by post, fax, email or telephone. We will keep your personal information confidential except to the extent that we are compelled to disclose it by law or to comply with an instruction of a regulatory body of competent jurisdiction. To comply with the requirements of the Data Protection Act 1998, we adhere to strict security procedures and have taken all appropriate measures to ensure that no unauthorised disclosures of your details are made to a third party without your permission and unauthorised access to it is prevented.

Liability

SFC will take reasonable care to ensure that the information provided on this website is accurate and up to date, although no representations or warranties are given of any kind, express or implied, with regard to the accuracy or completeness of this information. Innvotec, Enterprise Investment Partners and SFC and its partners, directors, employees and officers exclude all liability and responsibility in connection with the use of this website. Users of this website do so entirely at their own risk. SFC may amend the content of this website or any part of it, or may periodically make it unavailable for updating, with or without notice, at any time, and are not liable to users of this website for any effect thereof. The above limitations and exclusions do not purport to apply to liability for fraud, or for death or personal injury caused by negligence.

Tax

Tax assumptions are subject to statutory change and the value of tax reliefs will depend on your individual circumstances. The tax reliefs available to certain investors in SEIS and EIS companies are dependent on those companies maintaining their SEIS and/or EIS qualifying status. If HMRC approval is withdrawn, a company will lose this status and all tax reliefs are likely to be withdrawn. UK based investors must retain their shares for three years to retain the up-front income tax relief. Prospective investors in the SFC Funds should ensure that they read the risk warnings set out in the relevant prospectus or information memorandum.

Cookies

A cookie is a small file which asks permission to be placed on your computer’s hard drive. Once you agree, the file is added and the cookie helps analyse web traffic or lets you know when you visit a particular site. Cookies allow web applications to respond to you as an individual. The web application can tailor its operations to your needs, likes and dislikes by gathering and remembering information about your preferences. We use traffic log cookies to identify which pages are being used. This helps us analyse data about webpage traffic and improve our website in order to tailor it to customer needs. We only use this information for statistical analysis purposes and then the data is removed from the system. Overall, cookies help us provide you with a better website by enabling us to monitor which pages you find useful and which you do not. Our cookie in no way gives us access to your computer or any information about you, other than the data you choose to share with us. You can choose to accept or decline cookies. Most web browsers automatically accept cookies, but you can usually modify your browser setting to decline cookies if you prefer. This may prevent you from taking full advantage of the website.

Contact Details for Further Information and Queries

If you have any queries regarding this website, or would like further information about either of the SFC Funds, you may send an email to invest@startupfundingclub.com or telephone 020 7873 8225. Full contact details for the SFC Funds are available on the Contact Us page of this website.

We currently have two Funds open to investment: the Startup Funding Club SEIS/EIS Fund and the Epicure SEIS Fund.

The Startup Funding Club SEIS/EIS Fund

The SFC SEIS/EIS Fund allows investors to get exposure to a diversified portfolio of startups across various sectors and co-invest with our network of Business Angels which was named Lead Syndicate of the Year Award 2016 by the UK Business Angels Association. Since 2013, the SFC Fund has raised and invested over £4.5m across more than 60 high potential companies. The SFC Fund is an “evergreen” fund with bi-annual closing dates.

  • SECTOR: DIVERSIFIED
  • MIN SIZE: £0.25M
  • MAX SIZE: £5M
  • MIN INVESTMENT: £5K
  • PORTFOLIO SIZE: 8-15 COMPANIES
  • TAX RELIEF: SEIS / EIS
  • NEXT CLOSING DATE: 31/03
  • INITIAL CHARGES: NIL
  • TERM: 5-8 YEARS
  • FUND MANAGER: INNVOTEC LTD
  • EVERGREEN: YES
  • ADVISOR CHARGES: FACILITATED

Epicure SEIS Fund

The Epicure SEIS Fund aims to provide investors with a diversified portfolio of companies across the food, drink and hospitality sectors. Leveraging the team’s expertise and connections, as well as the vibrant start-up culture in the UK, the Epicure Fund aims to provide investors with the combination of capital appreciation together with SEIS tax reliefs. The UK food and drink market is the largest part of the UK manufacturing industry, worth over £94 billion in 2015 and predicted to grow at 3-4% annual in the short-to-medium term. Many sectors within the food and drink market are undergoing expansion and are looking forward to future growth. The out-of-home food and drink market is consistently doing well, driven by the time-poor modern consumer, and could be worth £54 billion come the end of 2016 – representing a suitable target for disruption by new companies and products.

  • SECTOR: FOOD, DRINK AND HOSPITALITY
  • MIN SIZE: £1M
  • MAX SIZE: £5M
  • MIN INVESTMENT: £5K
  • PORTFOLIO SIZE: 10+ COMPANIES
  • TAX RELIEF: SEIS
  • NEXT CLOSING DATE: 31/03
  • INITIAL CHARGES: NIL
  • TERM: 5 YEARS
  • FUND MANAGER: ENTERPRISE INVESTMENT PARTNERS
  • EVERGREEN: NO
  • ADVISOR CHARGES: FACILITATED

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