Photo via The Dots
For the first time, Hambro Perks, an exclusive venture capital firm that is run by Rupert Hambro, a City grandee, and Dominic Perks, a former investment banker, has opened the doors of the company to retail investors.
The company has backed various businesses such as on-demand washing service Laundrapp, and Sipsmith Gin. It has previously only made investments from the own £25m balance sheet of the firm. The said cash came from Hambro and Perks individually, and a selected number of private individuals and family offices.
However, the business is currently launching an Enterprise Investment Scheme (EIS) fund, which aims to raise cash from retail investors and enable them to make tax-efficient investments alongside the business of Hambro Perks.
Perks informed reporters: “There are five sectors that we’re developing an expertise in, and where we think the UK can be a global leader. These are fintech, insurtech, digital media, healthtech, and edtech, or education technology.”
The said fund will be open to investing in other businesses that are focused on technology. However, it will focus on these niches particularly. “They are all areas which are in a state of change,” added Hambro. “So many developments have been happening in education, while the NHS is crying out for help.”
Hambro Perks, unlike an average venture capital company, also produces its own business ideas. Laundrapp was, in fact, the idea of Perks. He funded Laundrapp to set up while bringing in a management team.
With the new EIS fund, the company aims to dodge the pitfalls which other funds have fallen into. While various funds have been known to invest in unstable businesses, simply so they can charge some fees, or bleed the businesses dry in order to generate a return, Perks insists that Hambro Perks will be placing its own money into each transaction.
Perks stated:”Britain is a fantastically innovative country, and we have a lot to shout about.”
With the additional money which the EIS fund offers it, the company hopes that it will be able to write higher cheque sizes for investee companies and be able to establish its stake in companies in which it is really confident.
The EIS fund of Hambro Perk aims to raise £20m per annum, in order to continue investing in startups in the United Kingdom indefinitely.