Industry
EIS Venture Capital Funds
Challenge
The SideBySide Partnership International needed an experienced FCA-authorised investment fund manager to help them launch their first EIS Fund. Since the relationship began in 2019, Sapphire has successfully launched and managed two funds alongside SideBySide.
Results
As the FCA-authorised fund manager, Sapphire enabled the successful launch of the SidebySide Later Stage EIS Fund in 2019 and the SidebySide EIS Venture Fund in 2020. This was achieved by combining Sapphire’s proven fund incubation expertise with SidebySide’s strength in deal sourcing.
Key Products
SideBySide EIS Venture Fund , SideBySide Later Stage EIS Fund
"Sapphire’s guidance has been pivotal to our ongoing growth and achievement. Their deep expertise and precise advice made launching and managing the SideBySide venture fund a seamless experience. From navigating the complexities of the fund launch to providing steadfast support throughout, Sapphire has consistently delivered exceptional professionalism and efficiency at every stage, enabling us to overcome challenges and achieve sustained success."
"Our partnership with Sapphire has been a defining force in our firm’s evolution. From the outset, their deep sector knowledge, trusted guidance, and collaborative spirit have driven the successful launch and ongoing performance of the funds. Sapphire expertly handled the intricacies of structuring investment documents, investor onboarding and deployment of capital, making complex processes straightforward and efficient. Their EIS expertise and proactive fund management remain central to our long-term growth, and we have valued their enduring support and commitment since we first started working together in 2019."
About The SidebySide Partnership
The SideBySide Partnership International is a UK-based company that specialises in working with the SideBySide EIS Venture Fund, mentoring UK technology-enabled companies that are already generating revenue, typically between £1 million and £20 million.
The team at SideBySide emphasise a hands-on approach, providing not only capital but also advice from experienced industry professionals. What makes the fund different is that it backs a select few companies at any given time, ensuring each has access to SideBySide's advice when needed and capital for follow-on funding rounds.
The Challenge
In 2019, the SideBySide Partnership set out to establish an EIS fund and required an Investment Manager with substantial sector expertise to successfully navigate an increasingly complex regulatory landscape. Both organisations faced the dual challenge of ensuring rigorous compliance standards while ultimately developing a framework that was transparent, scalable, and resilient.
The Solution
In April 2019, the SideBySide Partnership became an Appointed Representative of Sapphire, enabling the firm to operate under Sapphire’s FCA-authorised oversight. Leveraging Sapphire’s management and regulatory expertise, SideBySide successfully launched the SideBySide Later Stage EIS Fund that same year. Building on this momentum, SideBySide further strengthened its presence in the venture capital sector with the launch of the SideBySide EIS Venture Fund in 2020.
The decision to appoint Sapphire as Investment Manager was based on Sapphire’s long-standing reputation and depth of expertise in fund management. With over 15 years of experience incubating and launching EIS funds, the choice was obvious.
Sapphire’s status as an FCA-authorised firm, coupled with its in-depth understanding of the regulatory landscape, was pivotal in the decision-making process. The firm’s experienced team demonstrated exceptional commitment and professionalism across all facets of fund management.
“Their extensive expertise and unwavering professionalism were instrumental to the effective management and successful launch of the two SideBySide venture funds."
John Bailye, Founder @ The SidebySide Partnership
The Results
The collaboration between the SideBySide Partnership and Sapphire resulted in the successful launch of two funds, the initial being the SideBySide Later Stage EIS Fund. This fund focuses on later-stage companies with strong customer acceptance of their products and services, and where the team believes they could add substantively to the founders' and staff's knowledge and experience as they prepare to move from scale-up to commercialisation.
Following the success of the initial launch, the SideBySide EIS Venture Fund was subsequently introduced, focused on investing in fast-growing technology-enabled businesses. This fund aims to invest in high-growth, yet more established, technology-enabled EIS companies led by driven teams who dream big.
This partnership demonstrates that, under Sapphire’s stewardship and guidance, the fund launch process can be executed with both efficiency and strategic clarity.
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 a 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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