The world's first passive Enterprise Investment Scheme (EIS) fund has fully invested its £4.5m total.
The innovative Fund Twenty8, run by investment platform SyndicateRoom, is designed to offer retail investors a low-fee portfolio-based approach to startup investing.
Fund Twenty8 relies on algorithms to invest its capital in opportunities which are proving popular with high-net-worth and sophisticated investors on the SyndicateRoom platform.
“The fund has built a really impressive portfolio and it’s already beginning to show very promising signs,” said SyndicateRoom’s chief investment officer James Sore.
“One among our portfolio has already secured an additional £4.5m in capital from a large institutional investor.”
The firm has already started raising a second Fund Twenty8, which will be capped a total of £9m and will close in March.