1. TAX ADVANTAGED INVESTMENT
February 2019
investing.senecapartners.co.uk
EIS Portfolio Service
TAX ADVANTAGED INVESTMENT

2. Agenda Introduction to Seneca Seneca’s dealflow EIS tax reliefs
Seneca EIS Portfolio Service
Client Relationship and Investment Teams

3. Transactions Advised On
SME Specialists
£750m
‘GROUP’ AUM
£105m
AUM EIS/VCT/BR
£95m
Loan Book
£1bn
Transactions Advised On
EQUITY FUNDING
DEBT FUNDING
ADVICE

4. Seneca Partner Network
Access to Dealflow
Seneca Partner Network
Entrepreneurs
Accountants
Solicitors
Bankers
Stockbrokers
Existing Investors
Intermediaries
Debt Providers
Private Equity
Portfolio Companies
500+ Opportunities
200+ Meetings
80+
Due Diligence
c. 20 Investments
Every Year

5. Generalist Investment Approach

6. Record of Deployment 70+ Investment Rounds 40+ Companies 18 AIM Quoted
Funds raised relates to Subscriptions before the deduction of any fees. Funds deployed relates to the net amount used to purchase shares.

7. Current Deal Pipeline Description Investment Amount Expected
Completion
Digital media and publishing business
£1,000,000
Q4 2018
Supplier collaboration platform
£2,000,000
Online butchers
£1,500,000
Biotech contract research organisation
£600,000
Education technology platform
Technology services consultancy business
Fintech platform provider
Ecommerce female fashion brand aggregator
Q1 2019
Ecommerce female fashion brand
Licensee Management software solution
£750,000
We cannot guarantee that all deals shown will complete. Those that do may not be in the order or in the timeframe shown.
There is also no guarantee that an investor will be invested in any or all of these.

8. The Enterprise Investment Scheme (‘EIS’)
30%
CGT deferral
Maximum investment p.a. (£2m ‘knowledge intensive’)
Income Tax Relief via EIS 3 Certificate
Tax free
3 years +
Carry Back
Gains
Loss Relief
100%
IHT Relief after 2 years
Actual tax reliefs received are dependent upon an investor’s personal circumstances

9. Example #1: Invest £100,000 with 2 x Return
Income Tax relief up to
Net Cost
Return
CGT Paid
Net Return
EIS Investment
£30,000
£70,000
£200,000 £0
Non - EIS £0
£100,000
£200,000
£20,000
£180,000
2.85x
1.8x
For illustration only. Return not guaranteed. This example excludes any fees.
Actual tax reliefs received are dependent upon an investor’s personal circumstances

10. Example #2: Invest £100,000 with No Return
Income Tax relief up to
Net Cost
Return
Loss Relief
Total Tax Reliefs
EIS Investment
£30,000
£70,000 £0
up to £31,500
up to £61,500
Non - EIS £0
0.61x
0.00x
For illustration only. Return not guaranteed. This example excludes any fees.
Actual tax reliefs received are dependent upon an investor’s personal circumstances

11. Open Offer: Seneca EIS Portfolio Service
Evergreen Discretionary EIS Portfolio Service
A mixture of private and AIM quoted companies
4-6 companies in each investor portfolio
Target return: 1.6 to 1.8x
Target exit within 5 years
Minimum initial investment of £25,000
Target returns are not guaranteed and you may get back less than you invest.

12. Portfolio Performance
Raised over £57 million
Made over 70 EIS investments to date
AIM quoted companies averaging c. 1.5 x
Private companies average 1.1 x
Average hold c. 2 years
All figures as at 31st August 2018 excluding tax reliefs. Most private companies valued at cost.
Past performance is no guide to future returns

13. 9 Growth Capital Exits to Date
Average:
2.58x
Investment Subscription split over the 9 Exit Companies:
£100,000.00
Overall Return: (net of all costs – excluding any tax reliefs)
£208,322.92
Past performance is no guide to future returns. Of the nine exits, six had positive returns.

14. * For exits achieved within 4 years, a 30% Performance Fee will apply.
Fees and Charges
KEY POINTS
Advice fees can be facilitated
AMC only charged once we return the qualifying investment amount
Performance Fee only charged once we return the qualifying investment amount and AMC has been paid
Minimum subscription
£25,000
Initial Fee (advised)
2.5% plus VAT
Initial Fee (non-advised)
5.0% plus VAT
AMC
2% plus VAT
Performance Fee
20% plus VAT*
Custodian Admin Fee
£55 p.a. plus VAT**
* For exits achieved within 4 years, a 30% Performance Fee will apply.
** A sum equivalent to 5 years’ Custodian Administration Fee is set aside from the initial Subscription

15. Independent Reviews
Allenbridge
EIS Portfolio Service reviewed by Allenbridge, Tax Efficient Review and MICAP
VCT offering reviewed by Allenbridge and MICAP
Allenbridge

16. Summary The compelling tax benefits of EIS investment
“Uncontentious” growth capital
Advance Assurance from HMRC
Importance of selecting a Manager with proven growth capital skill set
Deployment capability and deal flow are critical
Capacity issues prompt call to action

17. Important Notice
This communication has been issued in the United Kingdom by Seneca Partners Limited (“Seneca") which is authorised and regulated by the Financial Conduct Authority of the United Kingdom and is made to and directed solely at persons who would be classified as a professional client or eligible counterparty under the FCA Handbook of Rules or who are exempt from authorisation.
If you are in any doubt about the content of this communication, you are strongly recommended to seek advice immediately from an independent financial adviser authorised under the Financial Services and Markets Act 2000 (“FSMA”) who specialises in advising on investments of this type.
This Document is only intended for release in the United Kingdom and is not for publication or distribution in any other jurisdiction. It does not constitute a public offering in the United Kingdom.
The contents of this Document should not be regarded as constituting advice relating to legal or taxation matters and you are advised to consult your own professional advisers on these matters.
Investors’ money committed to the Seneca Funds and Services will be invested in qualifying investments which may be of a long term and illiquid nature.
The value of your investment can go down as well as up so you may get back less than you originally invested.
The companies in which Seneca Funds and Services invest may not be quoted on any market. Accordingly, there will not be an established or ready market for the shares in them and Seneca, the Portfolio/Fund Manager, may experience difficulty in realising them (for value or at all).
The Portfolio/Fund Manager has taken all reasonable steps to ensure that the factual content contained in this document is accurate and the statements of their opinions herein are reasonably held.
Some material included in this presentation is derived from public or third party sources, and the Portfolio/Fund Manager disclaim all liability for any errors or misrepresentations which any such inclusions may contain.
There are situations where the interests of Investors may conflict with other areas of Seneca’s business and where these arise, controls are in place, details on request.
The Portfolio/Fund Manager reserves the right to update this Document from time to time.

18. Our Distributors investing.senecapartners.co.uk 01942 271746

19. Client Relationship Team
Advisers have access to our dedicated Client Relationship Team
Tina Fitzgerald
Peter Steele
Tracey Tomlinson
investing.senecapartners.co.uk

20. Investment Team Connor Grimes John Davies Matt Currie
investing.senecapartners.co.uk