Don’t invest unless you’re prepared to lose all your money.

These are high-risk investments and you are unlikely to be protected if something goes wrong.

Risk summary for non-readily realisable securities which are shares:

Last updated: 15 April 2024 | Estimated reading time: 2 min

Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk!

What are the key risks?

1. You could lose all the money you invest

If the business you invest in fails, you are likely to lose 100% of the money you invested. Most start-up businesses fail.

2. You are unlikely to be protected if something goes wrong

The business offering this investment is not regulated by the FCA. Protection from the Financial Services Compensation Scheme (FSCS) only considers claims against failed regulated firms. Learn more about FSCS protection here.

Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA-regulated firm, FOS may be able to consider it. Learn more about FOS protection here.

3. You won’t get your money back quickly

Even if the business you invest in is successful, it may take several years to get your money back. You are unlikely to be able to sell your investment early. The most likely way to get your money back is if the business is bought by another business or lists its shares on an exchange such as the London Stock Exchange. These events are not common. If you are investing in a start-up business, you should not expect to get your money back through dividends. Start-up businesses rarely pay these.

4. Don’t put all your eggs in one basket

Putting all your money into a single business or type of investment, for example, is risky. Spreading your money across different investments makes you less dependent on anyone to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments. Read more about it here.

5. The value of your investment can be reduced

The percentage of the business that you own will decrease if the business issues more shares. This could mean that the value of your investment reduces, depending on how much the business grows. Most start-up businesses issue multiple rounds of shares. These new shares could have additional rights that your shares don’t have, such as the right to receive a fixed dividend, which could further reduce your chances of getting a return on your investment. If you are interested in learning more about how to protect yourself, visit the FCA’s website here.

Please find the PDF version here.

Investors

The Funds have invested over £200m of capital in 160+ companies

One of the first investors in companies such as Volt valued at £256m, ContentCal, acquired for $110m, and Capdesk which was acquired for $88m.

The funds are ranked as some of the best performing funds in the market by third party analysts

The funds have a significant investor base of 1,000+ individuals, consisting of exited technology entrepreneurs, financial services professionals, Family Offices and Corporate investors.

Vibrant Ecosystem

The UK continues to be an excellent place to invest, with $1tn+ value created within tech

160+ Companies

The Fuel Ventures funds have invested £180m+ in over 160+ early-stage companies since 2016

PrOven Record

We have a proven record in successfully scaling tech companies

Entrepreneurial

We are operator led, with a track record of exiting the funds' own ventures

SEED TO SERIES A

The Fuel Ventures funds invest initially at seed and later double down into potential winners

6000+ DEALS

PER Year

We see a vast amount of the early stage tech ecosystem in the UK

The Fund Range

Pre-Seed SEIS Fund

Ticket size: up to £250,000

SEIS qualifying

Revenue or pre-revenue

Both lead or follow the round

Post-MVP preferred

Diversified portfolio of 10-30 companies per tranche

Scale-up EIS Fund

Ticket size: £1-3m

EIS qualifying

Revenue Generating Businesses

We can lead rounds

Investing in 10-15 companies per tranche

Follow On EIS Fund

Ticket size: £2-£5m

EIS qualifying

Seed - Series A Capital

Backing strongest performers

Investing in 5-8 companies per tranche

VCT Fund

Ticket size: £500k - £7.5m

30% Income Tax Relief

Highly diversified portfolio

Backing strongest performers

Consistent Valuation Uplifts Across Vintages

(Stated as at 29 Novemeber 2023. Note: the below is subject to changes)

* Multiple uplift to date with dilution. Returns are unrealised. Valuation increase is based on the latest company share price (December 2023). NB: Past performance may not be indicative of future performance. Capital at risk. Please note, the uplifts are based on the latest fund round and may not be reflective of the current market.

See the Fuel Ventures funds' recent Exits

ContentCal, one of the Fuel Ventures funds' portfolio companies, was acquired by Adobe, for $110m


Initial Investment in Jan 2020 Multiple

7.9x


Follow-on Round in Mar 2020 Multiple

6.1x


Follow-on Round in Mar 2021 Multiple

4.7x


“Fuel were an integral part of my company’s success and we'll continue having a close relationship!”

Alex Packham - ContentCal

“Fuel Ventures have been instrumental in my successful journey as a Founder. They provided both our seed and follow on funding, along with introducing us to other strategic VC’s.”

Christian Gabriel - Capdesk

Capdesk, one of the Fuel Ventures funds' portfolio companies, was acquired by Carta, for $85m in a cash & equity deal


Initial Investment in Mar 2019 Multiple

8.8x


Follow-on Round in Mar 2020 Multiple

3.8x


Follow-on Round in Aug 2020 Multiple

3.8x


Please note: EIS tax reliefs are only available to investors because of the higher risks associated with investing in early-stage companies. Also, the availability of tax reliefs will depend on the investor's individual circumstances, and may be subject to change in the future. In addition, the availability of any tax relief depends on the investee companies maintaining their qualifying status.

The enterprise investment scheme was setup by the UK Government back in 1994 to encourage investment into early stage UK companies, which in turn creates jobs and contributes to the wider UK economy.


To 2022, £27.9bn was invested across 36,145 companies (Intelligent Partnership)

EIS vs. SEIS: Eligibility Criteria

The Seed Enterprise Investment Scheme (SEIS) and the Ente