The Conduit EIS Impact Fund
To pursue profit and purpose. The Conduit EIS Impact Fund is an opportunity to invest in a diverse portfolio of early and growth stage businesses pursuing social and environmental impact. The fund invests in: Climate, Education, Health and Wellbeing and Financial Inclusion and Economic Opportunity.
Target portfolio
Seed to Series A+ impact ventures
Ticket size
£25,000 minimum subscription
Fund size
£2.5m minimum annual fund size. Quarterly closes.
Investment focus
Climate, Education, Health and Wellbeing and Financial Inclusion and Economic Opportunity.
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 EIS 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.
Portfolio Snapshot
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Foodsteps
Anya Doherty founded Foodsteps in 2021 whilst researching sustainable food systems at the University of Cambridge. Realising that there was no scalable way for food companies to measure and reduce their environmental impacts, Anya launched the foodtech platform to help companies calculate, label, and reduce their environmental footprint.
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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.
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.