Tax Efficient Review of Octopus Eureka EIS Fund with ... - Clubfinance
Tax Efficient Review of Octopus Eureka EIS Fund with ... - Clubfinance
Tax Efficient Review of Octopus Eureka EIS Fund with ... - Clubfinance
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TABLE 4: Unquoted <strong>Eureka</strong> portfolio analysis for <strong>Tax</strong> <strong>Efficient</strong> <strong>Review</strong> as at 23 August 2011<br />
Investee name<br />
Amount invested<br />
Current Value<br />
Percentage <strong>of</strong> equity held<br />
Date <strong>of</strong> first investment<br />
Syndicated<br />
Lead investor<br />
Structure <strong>of</strong> investment<br />
Industry sector<br />
Financing stage<br />
Valuation method<br />
Board seat<br />
Who did you co-invest <strong>with</strong><br />
Total invested in this financing round<br />
£000 £000 Y/N Y/N Y/N Names £000<br />
Technology<br />
Written down<br />
The Key Revolution 120.5 0 2.94 May-08 N Y A Ords Hardware & Early Stage to zero – Y<br />
1250<br />
Equipment<br />
Company in<br />
GB Environmental 75 0 1.67 May-08 N Y Ords Environmental Early Stage Administration Y 668<br />
True Knowledge 241 263 2.52 Jul-08 N Y A Ords<br />
Calastone 332 332 3.17 Oct-08 N Y A Ords<br />
Zoopla 404 1260 3.42 Jan-09 N Y B Ords<br />
S<strong>of</strong>tware &<br />
Computer<br />
Services<br />
S<strong>of</strong>tware &<br />
Computer<br />
Services<br />
S<strong>of</strong>tware &<br />
Computer<br />
Services<br />
e-Therapeutics plc 588 691 3.02 Mar-09 N Y Ords Healthcare<br />
Phasor Solutions 300 150 5.11 Mar-09 N Y Ords Technology<br />
Phase Vision 429 336 11.88 May-09 N Y A Ords Technology<br />
Surrey NanoSystems 599 599 9.82 Aug-09 N Y A Ords Technology<br />
Graze 273 325 2.91 Jul-09 N Y A Ords<br />
Food &<br />
Beverage<br />
Getoptics 498 374 10.36 Sep-09 N Y A Ords Retail<br />
Early Stage<br />
Development<br />
Capital<br />
Expansion<br />
Capital<br />
Development<br />
Capital<br />
Development<br />
Capital<br />
Development<br />
Capital<br />
Early Stage Pre<br />
Revenue<br />
Development<br />
Capital<br />
Acquisition<br />
Finance<br />
Cost <strong>of</strong> last<br />
funding - 9%<br />
uplift since<br />
original<br />
investment<br />
Y 2000<br />
Cost Y 2000<br />
Cost <strong>of</strong> latest<br />
funding –<br />
187% uplift<br />
from original<br />
investment<br />
Market price<br />
30/04/2011<br />
50%<br />
impairment<br />
Cost <strong>of</strong> latest<br />
funding – 50%<br />
reduction<br />
from original<br />
investment<br />
Y 2000<br />
N 2000<br />
Y 913<br />
Y 1100<br />
Cost Y<br />
<strong>Octopus</strong><br />
Titan VCT 1,<br />
2, 3, <strong>Octopus</strong><br />
Venture<br />
Partners<br />
1750<br />
Y 1392<br />
Cost <strong>of</strong> last<br />
funding –<br />
20% uplift to<br />
original<br />
25%<br />
impairment Y 1355<br />
AQS 550 550 7.3 Feb-10 N Y A Ords Cleantech<br />
Y 2000<br />
Metrasens 450 450 7.61 Feb-10 N Y B Ords Technology Cost Y 1500<br />
Mi-Pay 450 450 6.07 Feb-10 N Y B Ords Telecoms Y 1840<br />
Money Workout 450 0 9.93 Mar-10 N Y A Ords<br />
Other<br />
Services<br />
Semafone 632 632 15.43 Jun-10 N Y A Ords Technology<br />
Bowman Power 585 585 5.7<br />
Elonics 554 554 5.65<br />
Executive Channel 522 522 8.4<br />
PrismaStar 560 560 8.95<br />
Michelson<br />
Diagnostics<br />
485 485 8.61<br />
Aug-<br />
2010<br />
Sep-<br />
2010<br />
Sep-<br />
2010<br />
Sep-<br />
2010<br />
Oct-<br />
2010<br />
Administration Y 1518<br />
Y 1554<br />
N Y Ords Engineering Development<br />
Y 1833<br />
Capital<br />
N N B Ords Technology Y 1917<br />
Cost<br />
N Y A Ords Media Y 2000<br />
N Y A Ords Technology Y 2000<br />
N Y A Ords Healthcare Y 1585<br />
8 <strong>Tax</strong> <strong>Efficient</strong> <strong>Review</strong> Reprinted for the use <strong>of</strong> <strong>Octopus</strong> Investments Limited November 2011
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