Founded in St Andrews Scotland in 2014, the Eos Syndicate is a vibrant entrepreneur led private members’ investment syndicate. At Eos we believe that investing in early-stage innovations can deliver excellent financial returns for investors, as well as having the potential to impact positively on significant global issues.
Eos Investment Syndicate
The Eos Syndicate meets in St Andrews 4 times a year at which our members are usually presented with 2-3 investment opportunities per meeting. These investment opportunities have been carefully selected from dozens of applications, not only for the strength of the underlying science or technology, but also for their market potential, management team and exit potential. They will be predominantly (but not exclusively) Scottish based businesses, often spin-outs from Scottish universities. They will generally be pre-revenue.
The following section provides details of how the Eos Syndicate is run.
- The Syndicate meets in St Andrews 4 times a year at which our members are usually presented with 2-3 investment opportunities per meeting. These investment opportunities have been carefully selected from dozens of applications, not only for the strength of the underlying science or technology, but also for their market potential, management team and exit potential. They will be predominantly (but not exclusively) Scottish based businesses, often spin-outs from Scottish universities. They will generally be pre-revenue.
- Members can bring a family member, or a friend who may be a potential member, as a guest to the meetings.
- The meetings are formally organised with an agenda going out two weeks in advance setting out details of the presenting companies including business plans, financial forecasts, and investment summary. This allows members to decide if they are interested in attending that particular meeting. As things progress there will also be occasional update presentations from businesses which have already received an investment from EOS members.
- Following the presentations from the businesses seeking investment, each member makes their own personal investment decisions. There is no obligation, nor commitment, for a member to make any investments.
- The typical seed funding investment requirement for any one opportunity is likely to be in the range of £50k to £1m. Where possible the members’ investments will be leveraged by matched funding from public sector loans or equity investment, or via co-funding from other angel syndicates.
- It is likely that out of the 8-12 investment presentations given to the members in a year, only a few of these will secure funding from the Syndicate’s members. If they choose to make an investment, the typical investment range for an individual member may be anywhere between £5k and £50k depending on the level of funding being sought and how many other members are participating in that investment, but is not limited to this level.
- The Syndicate strives to present tax efficient investment opportunities which are eligible for schemes such as the HMRC Seed Enterprise Investment Scheme (SEIS) and Enterprise Investment Scheme (EIS).
The members of the syndicate appoint a Management Company to run all the affairs of the syndicate. The current management company is EOS Advisory LLP.
The management company is responsible for managing the Syndicate’s finances and financial reporting. Copies of the Syndicate’s accounts are made available to all members.
There is a secure Dropbox account through which all documentation is shared with members confidentially.
The day-to-day administration of all the investment applications and the short-listing of suitable opportunities is carried out by the Management Company, as is the investment transaction process and portfolio management.
If members choose to make an investment offer they will decide the terms of their offer with the Management Company and will agree any external transaction costs involved with the investee business as part of their offer.
There is an annual membership fee of £250 which covers all meetings during the year.
There is no transaction fee charged to each member participating in an investment.
There are no further costs charged to the members by the Syndicate. The transaction fees paid by the investee businesses and any grants received cover the management and overhead costs for the Syndicate.
Management accounts are presented to members at every meeting.
Membership fees are paid into the Management Company’s bank account. All finances are then controlled and managed by the management company on behalf of the syndicate.
A PDF copy of the membership rules can be downloaded below.