Yes 100%
Anything of interest?
The Galway wind turbine is of interest to me, but the capped return isn't very attractive
Likewise - it looked decent and hard to see wind not coming through. the new quintas fund looked interesting but minimum 25k - at least you get in built diversification though
I still think FPD looks good too as it ha a lot of european funding backing and is involved in a key sector
Yesterday I updated the EIIS.Investments site with all the latest ones. I hope it is helpful, suggestions welcome.
Personally I am looking at BVP (who I have used a few times) and the new Quintas one - The 2 are quite different funds. Spark always interesting too given its low minimum entry.
Started to look at a few options.
Davy, 3% entry and they have 2 fees on exit (net of exit fee of 2% and negative interest charged of -0.75%)
McKeogh Gallagher Ryan €5m windfarm EIIS fund, 3% entry no exit but limited to $1.05 max return.
Davy's track record isn't appealing, only 1 of the past 6 years' returns provided the initial lump sum investment back after the 5 years. The upside to that is that if you include the tax relief, you are not out of pocket from the initial lump sum investment.
What's the EIIS Historic Returns with BVP or has any of your investments reached exit yet ?
The wind farm was gone as of Tuesday morning so that's a no go
Green Crowd webinar about their 2022 EIIS offering
https://www.youtube.com/watch?v=aP6osVIMtFc
I’m very surprised at this. Were you down much on your initial lump sum plus fees.
eg. Let’s say you put in 10k plus 300 in fees. What did you typically get back?
McKeogh Gallagher Ryan have another offering, investment in a Solar Farm in Cork, limited to $1.05 max return, investment memorandum will be available this week.
I have not fully exited any funds yet as I have only been doing since 2019. There have been 3 early exits from companies in my funds with a good uplift (around 30% gain after EIIS clawback). If the exit is before 4 years there is a clawback of EIIS tax relief.
If I get my money back and just keep the tax relief it would be acceptable result - anything extra is a bonus.
Has anyone invested in Akkure for the EIIS benefit? An awful lot of money invested with not a lot of oversight...
Getting to that time of year again - anyone seen anything?
There is this campaign live currently - https://www.sparkcrowdfunding.com/campaign.php/aurigenmedical2
Anyone invested in medpoint previously or thinking of it?
McKeogh Gallagher Ryan have a €9m Cork Solar farm funding, they raised some funding for them last year as well, available on a first come first served basis, not advertised publicly yet, return capped at €1.05 per €1
Anyone invest in the EMEX Software EIIS scheme? Firm has had a lot of bad press in recent months not paying staff etc. really regretting the investment. Curious if anyone has investment outstanding with them.
Has anyone else heard the rumours that the 40% relief is being reduced next year to 30%? Would make it very unattractive especially with deposit rates of 4% available now - the difference for the risk premium would narrow massively
I have, got an email recently saying that they are the subject of an ongoing sale
Yeap, from BVP:
Finance Bill 2023 - EIIS Tax Relief Change Detail
The Finance Bill 2023 published on 19 October 2023 outlines changes to investor tax relief which will will depend on the categorisation of the funding round within the company, generally classified as initial, expansion, or follow-on.
It specifies a 50% tax relief rate for “initial risk finance” where companies that have not previously operated in any market (section 496(5)(a)(i) of part 16 of the TCA).
A 35% rate applies for “initial risk finance”, where a company which is within 7 years of first commercial sale/10 years of incorporation, (section 496(5)(a)(ii) of part 16 of the TCA).
A 20% rate applies to “expansion risk finance” , which shall only be a qualifying investment where, based on a business plan prepared in view of a new economic activity (section 496(6)of part 16 of the TCA).
A 20% rate also applies to “follow-on risk finance”, where the possibility of the follow-on risk finance investment was provided for in the business plan upon which the initial risk finance or expansion risk finance investment was based (section 496(7) of part 16 of the TCA).
Do you know does this just apply to schemes which a person would enter in the future or does it also apply to schemes which a person would have joined in the past 1-2 years?
Any EIIS investment up to the end of 2023 is OK
Thats my understanding too so any company you are investing in directly this year you will get your normal 40% tax relief but I'm guessing anything invested via a fund such as BVP wont actually be invested in companies until 2024 so the new terms will apply.
I guess 35% relief will still apply to many, but I can't think who would be interested at 20% relief - much better options imo
companies would want to be increasing the coupon on top of the relief or they will find it hard to generate funding now
While I know nothing about funds like BVP I would be reasonably confident that any money you invest this year will get the 40% tax treatment even though the likes of BVP may not invest it until early 2024, worth checking with these funds though to determine the tax treatment
Anyone know what date the EIIS supplement is in the business post this year?
19th November
BVP prospectus indicates new rules will apply. They give a targeted relief on a 2023 investment of 32%.
Will make the BVP offering very unattractive for 2023
