The Conduit Impact Fund
The Conduit Impact Fund is an opportunity to invest in a diverse portfolio of early and growth stage businesses pursuing social and environmental impact, with the added benefits of EIS tax reliefs. The fund invests in Sustainable Industry, Integrated Health and Financial Resilience.
Target portfolio
Pre-Seed to Series A impact ventures
Subscription
£25,000 minimum subscription
Fund size
£2.5m minimum annual fund size. Quarterly closes.
Investment focus
Sustainable Industry, Integrated Health and Financial Resilience.
Unique impact investing ecosystem
The Conduit Connect is at the heart of the global impact investing ecosystem. It is a partner organisation to The Conduit, a global membership of over 3,000 people passionate about positive social and climate change.
The Conduit Impact fund invests in scalable impact ventures that benefit from EIS tax relief.
The Fund invests in companies solving some of the greatest challenges facing people and planet, in areas such as smart mobility, the sustainable built environment, sustainable fashion, biotech, decarbonisation, and AI.
The team is a unique combination of experienced venture investors, operators, deal flow generators, capital connectors and impact experts. It leverages the expertise of a dedicated cohort of Venture Partners who refer deals to the team, assist with diligence, and portfolio management, as well as an expert Investment Committee of exited entrepreneurs and venture fund managers.
The fund only invests in companies that have been through the Conduit Connect’s rigorous impact screening framework, developed with Deloitte. The framework is aligned to the UN Sustainable Development Goals, and ensures that all companies have social and/or climate impact at the core of their business models.
Tax advantages subject to change, and depend on the individual circumstances of investors.
Portfolio Snapshot
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Sojo
Described as the ‘Deliveroo of clothing repairs’, Sojo connects registered seamsters with customers who need alterations and repairs through its bicycle courier service. It has been operating as a direct-to-consumer service but has now launched its B2B service for fashion brands, with Ganni signed as its first deal.
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Tandem
Tandem is a UK-based mobility start-up on a mission to improve transport connectivity for small communities outside of cities. It partners with local taxi, minibus and coach providers to offer flexible and affordable transport options available at a click of a button on its ride-sharing app.
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MiAlgae
MiAlgae applies leading advances in science and technology to improve food security and reduce the impact of humanity on the planet. It has developed and scaled a biotechnology process that uses circular economy principles to convert whisky waste to omega-3 oils for the animal nutrition industry.
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Novai
Invented by ophthalmologist, Professor Francesca Cordeiro, DARC technology is a patented ‘biomarker’ that detects disease in the retina - such as glaucoma and AMD - years ahead of other methods. Novai is also creating a diagnostic product for early diagnosis of neurodegenerative diseases and received clinical validation data in August 2021.
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Zen Educate
Zen Educate is on a mission to disrupt the entrenched and antiquated market of supply teaching. Zen’s digital solution helps schools manage supply teaching more efficiently, the teachers receive better pay and deal with less admin, all whilst generating an average of £15,000 in savings for schools per year.
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Thalamos
Thalamos gives people who are sectioned under the Mental Health Act quicker and safer access to vital treatment by enabling their care to be organised digitally. It replaces the outdated system of paper forms that is currently used to arrange care. Instead, Thalamos offers a streamlined digital system which significantly lowers the risk of errors and eliminates unnecessary delays. This allows the most vulnerable patients to access life-saving mental health treatment sooner.
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Electric Car Scheme
The rapid uptake of electric cars (EVs) is essential to achieving global net zero targets but we aren’t transitioning fast enough mainly because EVs are more expensive. ECS is the only value-add broker in the market offering a full-service to SMEs allowing employees to lease the most affordable EV using salary sacrifice. ECS manages all of the administration and is able to offer employees prices that are cheaper than competitors.
FAQ
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The Enterprise Investment Scheme (EIS) was introduced by HMRC to help smaller higher-risk trading companies to raise finance, by offering a range of tax reliefs to investors who subscribe for new shares in those companies.
EIS offers a number of tax reliefs to investors on up to £1m of investment made into eligible companies per tax year, which may include:
Income Tax Relief of 30% on Amount Invested
100% Capital Gains Tax Deferral
Tax Free Capital Gains
Loss Relief
Inheritance Tax Relief
In order to benefit from the tax reliefs outlined above, investors must hold their shares for a minimum of 3 years, except for the Inheritance Tax relief where the period is two years.
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Any UK income taxpayer could be eligible for tax relief. You can only claim relief against the amount of Income Tax you need to pay in the UK.
Find more information on the GOV UK website here. We recommend investors seek advice from a qualified tax advisor, if unsure about your eligibility.
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This fund is suitable for both retail and professional investors interested in diversifying their portfolio with impact investments.
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Prospective investors should note that the Fund is an ‘alternative investment fund’ (or “AIF”) for the purposes of the Alternative Investment Fund Managers Directive (2011/61/EU) (“AIFMD”)
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The fund operates a transparent, tax-efficient fee structure: 2% annual management fee capped at 5 years (10% total). Half of the total management fee (5%) is charged upfront and the remainder (5%) is deferred and payable only on realisations.
Performance fee of 20% over 10% hurdle.
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The expected holding period is 3-7 years for each investment.
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Only companies that have been accepted through the Conduit Connect diligence and selection process will be considered by the Fund.
The designated pipeline team at Conduit Connect evaluates hundreds of potential impact investments per year. Those that pass the rigorous due diligence and impact appraisal are then taken to the selection committee.
When a new company has been accepted onto the Conduit Connect platform and it is EIS eligible, it will be referred to the Fund investment team. These companies will then go through further due diligence before going to the investment committee.
Conduit Connect is the primary deal flow partner for the Conduit EIS Fund. It has strong deal sourcing partnerships with high-quality and active partners in the impact investing ecosystem, ranging from traditional VCs, accelerators/ incubators to corporates. Its close relationship with the Conduit, London’s principal impact members club, also provides unique access to relevant, impact-aligned deal flow.