Industry
EIS Venture Capital Funds
Challenge
Vala Capital needed to partner with an FCA-authorised Investment Manager to facilitate the launch of its EIS funds. Since 2018, five distinct funds have been successfully established and launched. Sapphire continues to manage the funds.
Results
Sapphire provided the solution in our role as the FCA-authorised fund manager. Vala Capital became an Appointed Representative ("AR") of Sapphire in November 2018. As an AR, Vala Capital has advised Sapphire on the investments in the various funds.
Key Products
Better Ventures EIS, One Four Nine Wealth Sustainable Growth EIS, UK Challenger Fund, Vala Self Select EIS, Vala Sustainable Growth EIS
"Sapphire transformed our initial concept into a fully operational fund, managing the entire launch process with exceptional professionalism and meticulous attention to detail. I have absolute confidence in recommending Sapphire for fund incubation and ongoing management services."
"Partnering with Sapphire was a decisive factor in our growth. Their industry expertise, reliability, and consistent delivery enabled us to progress seamlessly from one fund to five. Each launch was executed with exceptional professionalism and efficiency."
About Vala Capital
Founded in 2016, Vala Capital is a sustainability-focused firm led by experienced entrepreneurs. The team aims to combine strategic capital deployment with active mentorship, guiding founders to optimise products and develop effective go-to-market strategies. The team looks for founders using innovation to tackle practical environmental and social challenges.
In practice, Vala combines investment judgment with hands-on support, drawing on the founders' own track records of building and exiting businesses. Central to Vala Capital’s philosophy is fostering sustainability within the fund's portfolio companies, regardless of their sector.
The Challenge
In 2018, Vala Capital embarked on the process of establishing an EIS fund. One that aimed to focus on and support small and medium-sized enterprises across the UK. They needed an Investment Manager with the required experience and knowledge to complete this task, and one with the expertise to interpret and navigate the regulatory framework with absolute precision and clarity.
The Solution
Sapphire provided the solution Vala Capital required. Sapphire’s FCA-authorised status and established record in launching EIS funds made for an exemplary partnership, with Vala Capital operating as an Appointed Representative of Sapphire and advising on the various investments into investee companies.
With more than 15 years of specialised venture capital expertise, the decision was straightforward. Sapphire delivered a comprehensive, end-to-end service, tailoring their approach to meet Vala Capital’s specific requirements. Their highly skilled team transformed a concept into reality, efficiently preparing all necessary fund documentation and ensuring every aspect was managed with expertise.
“Sapphire transformed our initial concept into a fully operational fund, managing the entire launch process with exceptional professionalism and meticulous attention to detail."
Jasper Smith, Vala Capital Founder.
The Results
The partnership between Sapphire and Vala Capital resulted in the successful launch of the UK Challenger Fund in 2018. Building on this achievement and maintaining strong momentum, we also established the Better Ventures EIS Fund in 2019 and the Vala Sustainable Growth EIS Fund in 2020.
Our ongoing collaboration has continued to flourish, resulting in the successful launch of both the One Four Nine Wealth Sustainable Growth EIS Fund and the Vala Self-Select EIS Fund. The Vala Self-Select EIS Fund is dedicated to supporting UK-based, multi-sector SMEs.
Sapphire has laid the foundation and incubated five funds working with Vala Capital closely, playing an instrumental role in the successful launches. This highlights the impact that sustained commitment and effective collaboration can deliver.
Next Steps
If you would like advice on how to set 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 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.
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