Goldfinch Pictures has launched a new seed enterprise investment scheme, aiming to raise £3m for investment during the 2014-2015 tax year.
The Goldfinch SEIS fund launched officially on 17 February and its promoter is Kin Capital.
A spokesperson told FTAdviser that several private investors have already invested in the fund and Kin has a £2m pipeline of capacity for this tax year, which means investors can carry back income tax relief for the 2013/14 tax year.
Goldfinch Pictures is part of chartered accountant firm Nyman Libson Paul, which specialises in the entertainment sector, and now has 70 enterprise investment schemes and SEIS companies altogether.
The firm stated that investors stand to receive a greater share of returns as they are charged a performance fee on the aggregate performance of the fund, rather than on a deal by deal or company by company basis, which is how some other SEIS funds operate.
The spokesperson added that its products are aimed at returns as well as just using EIS for its tax relief purposes as so many have done in the past.
“Our main goal has been to restore faith back into the UK film industry and also revolutionise the EIS market by creating a product where investors not only can protect their investment, but also have a much greater chance of seeing returns.”
ruth.gillbe@ft.com
