MMC Ventures is targeting investors between the ages of 18 and 35 years through its Growth Generation Fund, which began life back in 2010.
Aimed at allowing personal investors to capitalise on the tax efficient Enterprise Investment Scheme (EIS), the fund will be backing fast-growth UK firms.
The MMC Growth Generation Fund is open ended and is welcoming subscriptions of between £2,500 and £10,000.
MMC Ventures partner Rory Stirling says that the fund is a reflection of the fact that a lot of Britain’s 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 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,’ he adds.
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For Avid Larizadeh, co-founder and COO of MMC Ventures portfolio company Boticca.com, access to growth company investing for the younger generation is a positive thing.
‘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,’ Larizadeh adds.
‘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.’
Following the close and investment activity from the first fund, MMC Ventures raised Growth Generation Fund II in Summer 2012. The capital raised there was injected into five businesses in four months.
