All about the Haatch SEIS Fund
Haatch was founded by Scott Weavers-Wright and Fred Soneya. The two met at Kiddicare.com, an online baby care retailer co-founded by Scott, which became one of the UK’s largest e-commerce businesses and was acquired by supermarket Morrisons for £70 million in 2011. Whilst at Kiddicare, Scott and Fred ran the Kiddicare start-up program, working with selected start-ups, three of which achieved exits in excess of $1 billion.
This experience led to an angel co-investment joint venture, Haatch Angel, in 2013 which in 2018 became Haatch Ventures.
The Haatch SEIS Fund invests in a portfolio of 10-15 pre-seed technology companies. The managers state that they invest in less than 5% of companies that they review and have established a well-defined strategy based on experience from the team’s personal successful entrepreneurial exits and over 70 investments across the last 10 years.
The fund invests in sectors the managers know well including Pre-Seed & Seed companies in B2B software, software-as-a-service, on-demand, gig-economy and digital consumer businesses solving deep pains and/or creating massive impact for organisations.
Post investment the Haatch team aim to add value by leveraging their experience and network to help in problem solving and opening doors.
Top-performing businesses from within the SEIS portfolio may receive follow-on investment from the Haatch EIS fund, not guaranteed.
Summary
| Fund Manager: | Haatch Ventures |
| Tax Efficiency: | SEIS |
| Sector Focus: | B2B software, software-as-a-service, on-demand, gig-economy and digital consumer |
| Stage Focus: | Pre-Seed and Seed |
| Target Portfolio Size: | 9-15 companies |
| Minimum Subscription: | £10,000 |
| Closing Date: | Currently closed |
| Website: | Learn more about the Haatch SEIS Fund |
Pros & Cons
Pros: Companies the fund invests in benefit from the network and experience of the fund managers who were successful entrepreneurs. Companies pay no fees.
Cons: The performance fee of the fund is higher than elsewhere combined with having a lower hurdle rate.
Fees
| Full initial fee: | 10% |
| Annual management fee: | nil |
| Administration fee | nil |
| Performance fee: | 25% of returns to investors if the ROI is over 1x but up to 5x subscribed amounts, and if ROI is equal to or greater than 5x 30% of the excess of returns above 5x subscribed amounts. Fees are charged on a whole portfolio basis. |
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 who have an average IRR of 42%. Our model is based on our proprietary analysis of the UK startup market, which showed that on average, the market grows by 28% each year. With large portfolios, and a large network of angels providing access to the best deals, earlier, we aim to replicate that annual growth for our investors while mitigating risk. This data-driven approach aims to work around the limitations of a single fund manager attempting to pick winners.
Our minimum investment is £5,000.
| 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 |
Are you the fund manager? Email tom@syndicateroom.com with any comments or amends.