EIS/SEIS Market Snapshot

There are currently 43 EIS funds, 9 SEIS funds and 4 hybrid EIS/SEIS funds in the market.

These 56 funds are operated by 36 managers.

Scroll down to find out more.

Sector Distribution

MICAP categorises the market across eight sectors: Food & Drink, Industry & Infrastructure, Media & Entertainment, Pharmaceuticals & Biotechnology, Sport & Leisure, Technology, Transport, and General Enterprise.

By number, the EIS/SEIS funds currently fundraising operate in the following sectors:

	Technology	48.93%
	General Enterprise	43.21%
	Pharmaceuticals & Biotechnology	4.29%
	Media & Entertainment	1.79%
	Sport & Leisure	1.79%

Investee Company Stages of Development

EIS and SEIS funds invest into Seed, Early and/or Later stage companies, and some also (or exclusively) invest into AIM listed companies.

Seed stage: A company that, at the point of investment, is at its setup stage with an idea for a product or service, perhaps engaging in R&D

Early stage: A company that, at the point of investment, has commercialised its product or service, is generating revenue and is looking to scale up quickly

Later stage: A company that, at the point of investment, is generating significant revenues (e.g. £1 million plus per annum) from an established customer base and may also be profitable. Later stage companies will typically be raising larger amounts than seed/early stage companies (e.g. deal sizes of £10m +), with the potential for an exit in 3 – 5 years

AIM listed companies are companies that have listed their shares on the Alternative Investment Market.

In the current market, 21 funds invest in seed-stage companies, 49 in early-stage companies, 20 in later-stage companies and 2 in AIM-listed companies.

By number, the sector breakdown of these funds is presented below (the size of the pie chart represents the number of funds that target this stage of company):

Seed stage

Early stage

Later stage

AIM Listed

Technology	General Enterprise	Pharmaceuticals & Biotechnology	Media & Entertainment	Sport & Leisure

Average Deal Size and Target Portfolio Size

Across the 36 managers currently raising EIS/SEIS funds, the average deal size* they target is £641,238, and the average target portfolio size is 8.

*This includes all EIS, VCT & non-tax-advantaged funds deployed by the manager into these companies, but excludes any funding provided from other managers or sources

Below is a breakdown of the current EIS and SEIS market by average deal size and target portfolio size.

Each dot represents an individual fund. The size of the dot represents the stage of company (seed, early or later) that the fund targets, and the colour of the dot represents the sector the fund primarily targets.

MICAP subscribers can hover over an individual dot to find out more about that particular fund. Register or log in to MICAP by clicking here.

Technology	General Enterprise	Pharmaceuticals & Biotechnology	Media & Entertainment	Sport & Leisure

EIS/SEIS Market Snapshot (EISA)