Downing EIS launched in September 2015 to provide investors with the opportunity to invest in asset-backed UK trading companies and to benefit from attractive EIS reliefs, including 30% income tax relief. In 2016, a second tranche of the Downing EIS was launched.
Tranche 1 of the fund has been fully raised and invested across a portfolio of five businesses, including operating pubs and restaurants, health clubs, energy businesses and wedding venues.
To date, Tranche 2 of the fund has invested in two companies, in the wedding/events venues and pubs and restaurants sectors.
The target exit date for the fund is from 2020.