About Amadeus Early-Stage EIS Fund
Launched in 2015, the Amadeus Early-Stage EIS Fund offers investors the opportunity to build a portfolio of four to seven companies a year for a minimum subscription of £50,000. The EIS fund co-invests with Amadeus' venture capital funds and benefits from the access to information provided by its private equity holding. To date, Amadeus has invested in more than 186 companies, 31 of which have achieved a profitable exit, for an average return of 3.6x.
Amadeus does not operate a large EIS fund business; its EIS fund is highly selective and focused on deep tech.
Summary
| Fund Manager: | Amadeus Capital |
| Tax Efficiency: | EIS |
| Sector Focus: | Technology |
| Stage Focus: | Early-stage |
| Target Portfolio Size: | 4-7 companies |
| Minimum Subscription: | £50,000 |
| Closing Date: | 15 April 2024 |
| Website: | Learn more about Amadeus Early Stage EIS Fund |
Fees
| Full initial fee: | 3% |
| Annual management fee: | 2.5% decreasing to 0% over time |
| Administration fee | nil |
| Dealing fee: | from 0.35% |
| Performance fee: | 20% |
Pros & Cons
Pro
Established relationship with its VCT investee companies.
Con
Portfolio concentration.
How does SyndicateRoom's Access EIS Fund compare?
By comparison, SyndicateRoom's Access EIS fund builds investors a large portfolio of 50+ companies across all sectors, co-investing with experienced angel investors (average IRR of 42%). Because venture capital returns follow a power law distribution (see our report on this), it is better to try and build large portfolios of quality companies, rather than trying to pick a small group, because startups have a high likelihood of failure regardless of their potential. With a larger portfolio, each individual failure represents a smaller percentage of your overall holding.
Our model is based on our proprietary analysis of the UK startup market which showed that, on average, the market as a whole grows by 28% each year. It's not possible to invest in the entire market, but with large portfolios and access to the most promising deals, investors can optimise their return potential (see our white paper).
We gain access to the most promising new startups by co-investing with the UK's most successful angel investors, who meet our strict performance and sector expertise criteria, while providing access to new businesses at very early stages and on exactly the same terms.
Our data-driven approach aims to work around the limitations of a single fund manager attempting to pick winners.
Our minimum investment is £5,000.
Summary
| Fund Manager: | SyndicateRoom |
| Tax Efficiency: | EIS |
| Sector Focus: | Sector Agnostic |
| Stage Focus: | Early-stage |
| Target Portfolio Size: | 50+ companies |
| Minimum Subscription: | £5,000 |
| Closing Date: | Evergreen |
| Website: | Learn more about the Access EIS Fund |
Our fees:
| Access EIS | Typical EIS Fund* | |
|---|---|---|
| Minimum subscription | £5,000 | £19,167 |
| Set-up fee | 2% | 2.3% |
| Annual management fee | 1.5% | 1.9% |
| Deal fee | None | 0.8% |
| Annual admin fee | None | 0.4% |
| Exit fee | None | 0.5% |
| Total management fees (7 year holding period) | 12.5% | 24.3% |
| Performance fee (carry) | 10% | 20% |
Are you the fund manager? Email tom@syndicateroom.com with any comments or amends.