Industry
EIS Venture Capital Funds
Challenge
BDF Advisors Limited sought an experienced, trusted FCA-authorised investment manager to assist in launching and managing an initial venture capital fund. Since 2016, Sapphire has fulfilled this role, successfully launching six funds in partnership with BDF Advisors.
Results
With Sapphire acting as the FCA-authorised investment manager, BDF Advisors could focus on mentoring and supporting the fund's investee companies.
Key Products
The British Design Fund, The British Design Fund 2, The British Design Fund 3, The British Design Fund 4, The British Design Fund 5, The British Design Evergreen SEIS & EIS Fund
“Sapphire has consistently managed the BDF fund with expertise and professionalism. Their attention to detail and effective communication throughout the process instil complete confidence at every stage. I highly recommend the Sapphire team and look forward to the future of our partnership."
"Sapphire has shown what a knowledgeable firm and team can achieve. All tasks and projects are executed to the highest professional standards. They have proven to be the right partner for us, and it is a pleasure to work with them."
%20(1)%20(2).jpg?width=5712&height=4284&name=IMG_4412%20(1)%20(1)%20(2).jpg)
About British Design Fund
The British Design Fund backs enterprises and innovation across the UK’s engineering and manufacturing sectors. The fund’s aim is to help these businesses scale their products, accelerate growth, and build long-term value. Each portfolio company is purpose-led and addresses a meaningful challenge within its sector.
Founded in 2016 by Damon Bonser, BDF Advisors has been supporting entrepreneurs for the past nine years. Damon is a serial entrepreneur with over 20 years’ experience building and running product development and manufacturing businesses.
The Challenge
In 2016, BDF Advisors set out to establish a fund vehicle that could operate under both SEIS and EIS structures. To do so, they needed an FCA-authorised investment manager who could assume regulatory responsibilities, allowing BDF Advisors to focus on the non-regulated aspects of mentoring and supporting the fund’s investee companies.
The Solution
BDF Advisors partnered with Sapphire as the fund’s FCA-authorised investment manager. This enabled the successful launch of the first British Design Fund and marked its formal inception. Building on this foundation, British Design Fund Two and British Design Fund Three were launched in 2020, with the second fund focusing on the design sector and the third on early-stage, design-led businesses. 
The decision to work with Sapphire was driven by Sapphire’s experience in launching and managing SEIS and EIS funds. Our understanding of investment management and compliance obligations gave BDF Advisors the confidence to continue working with Sapphire as investment manager, enabling BDF Advisors to remain focused on investee company due diligence and mentoring.
“They [Sapphire] have proven to be the right partner for us, and it is a pleasure to work with them.”
Sam Kremer, Chief Operating Officer @ BDF Advisors Limited
The Results
This ongoing collaboration has supported the launch of three further funds: British Design Fund Four and British Design Fund Five in 2022, and the British Design Evergreen SEIS & EIS Fund in 2024. The Evergreen fund is focused on investing in purpose-led product and engineering start-ups, helping them grow and progress to the next stage of their development.
Together, BDF Advisors and Sapphire have demonstrated that with consistent, high-quality execution and clear communication, the fund launch process can be managed efficiently and scaled over time.
Next Steps
If you would like advice on setting up an investment fund, such as a GP/LP fund or an EIS fund, or if you need an FCA authorised operator and manager to manage the fund, or need pricing and options, contact us, and we will be in touch right away.
Disclaimer:
Sapphire Capital Partners LLP ("Sapphire") is authorised and regulated by the Financial Conduct Authority (FRN 565716). The case study above is illustrative only and does not represent investment performance or future outcomes and the content on this webpage is intended solely to explain Sapphire’s fund-management and advisory services. It is not intended to be a financial promotion for the purposes of section 21 of the Financial Services and Markets Act 2000 and does not constitute investment advice, an offer, or an inducement to engage in any regulated investment activity. Nothing on this page should be interpreted as a recommendation regarding any investment, fund, scheme or structure. Any person considering an investment should obtain independent financial, legal and tax advice. Investments in start-ups, early-stage businesses and venture capital funds involve high risks, including the risk of losing all capital invested, illiquidity, and dilution. Tax treatments, including SEIS/EIS reliefs, depend on personal circumstances and may change. Communications with Sapphire’s staff are for general information only and should not be relied upon to make investment decisions.
Partner with award-winning fund specialists
