The Viking Growth Fund is open for investment from business angels, high net worth individuals and family offices, and has no set minimum or maximum investments. According to Braveheart, UK investors will be able to take advantage of the government’s tax-efficient Enterprise Investment Scheme (EIS) scheme.

The fund is the second EIS-related launch this month, following the opening of the Beta EIS Fund, a successor to the Alpha EIS Fund.

With a lifespan of about five years, the fund aims for a balanced portfolio with exposure across industry sectors and companies in differing stages of development. Investments will be mainly in technology and will include follow-on funding of existing Braveheart portfolio concerns and also into new companies, the statement says.

Braveheart chief executive Geoffrey Thomson comments, ‘In tax-efficient investment, there is an alternative to venture capital trusts. EIS reliefs can boost net investor returns and offer a measure of downside protection.’

Applications close on 31 March 2011. The minimum investment is £10,000.