MMC Ventures re-launches fund aimed at investors under 35
Growth Generation fund ‘first of its kind’ to introduce young investors to high-growth companies
Tech-focused fund manager MMC Ventures today announced the re-launch of its Growth Generation fund, uniquely targeted at investors under 35.
The fund, which was originally launched in January 2010, claims to be the first of its kind to specifically target a growing number of young investors in order to introduce them to venture capital and provide them with access to a host of high-growth small companies.
Investors aged 18-35 can participate in investments through the fund, which aims to remove barriers to entry by waiving the usual investor fees whilst keeping tax benefits such as Enterprise Investment Scheme (EIS) relief.
MMC said the re-launch of the fund would once again create an opening for young investors to back hard-to-access, fast-growing UK companies identified by MMC Ventures at very low cost – giving them the opportunity to reap the gains offered by investing in the fast-growing UK tech sector.
The firm re-launched the fund last night at an event held at Morton’s private members club in Mayfair, which brought together current and potential investors with entrepreneurs and the MMC Ventures team for an evening of discussion and networking.
The MMC Growth Generation Fund will be open-ended, subject to a minimum investment of £2,500 and a maximum of £10,000.
Subscriptions will be invested in the same deals and on the same terms as the MMC EIS parent fund.
Avid Larizadeh, co-founder and COO at fashion accessory e-commerce site Boticca.com, said at last night’s event: “I’ve been fortunate enough to have had experience as both an investor and an entrepreneur.
“For a young person it’s actually really hard to become an investor today – and so I’m really pleased that MMC has reopened the Growth Generation Fund.
“Participants will benefit from access to very low cost and tax efficient venture capital investing in the UK – and indeed the opening up of the hugely exciting world of high-growth business.”
Rory Stirling, partner at MMC Ventures, added: “Much of our high-growth economy is built on the hard-work and innovative thinking of 18-35 year olds, yet this cross-section of the investor community rarely gets to access to an opportunity such as the Growth Generation Fund that – in addition to the usual tax breaks – is distinguished from any other fund in the market by the fact that we do not charge investor fees.
“We also believe that Growth Generation investors could be an invaluable source of exciting, fast growing companies. They are a collection of talented individuals who could be great additions to the management teams of our portfolio companies – and a source of prime strategic input into emerging trends in the new economy.”