Parkwalk Advisors has unveiled an enterprise investment scheme (EIS) looking to exploit opportunities in UK technology sector
The Parkwalk UK Tech Fund VII invests in ‘hard science’ knowledge-intensive technology companies, with a bias to those spun-out from UK universities.
The EIS targets ventures that demonstrate product commerciality, financial stability and management selection, ranging in size from start-ups to AIM-listed.
Managed by the Parkwalk team, led by chairman Gordon Lawson and chief investment officer Alastair Kilgour, the fund is seeking to make the majority of its investments within the next 12 months and will most likely invest alongside other financial institutions.
Offering capital gains tax relief, Parkwalk tends to invest 90% of subscriptions, meaning the relief initially applies to 90% of each investor’s capital. There is a minimum individual investment threshold of £25,000.
Parkwalk UK Tech Fund VII carries an initial charge of 3%, in addition to annual administration and performance fees of 1.5% and 20% respectively.