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 £25k 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).
The management company is responsible for managing the Syndicate’s finances and financial reporting. Copies of the board minutes and 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 a Gatekeeper appointed by the Management Company.
There is an annual membership fee of £250 which runs from the member’s date of joining the Syndicate and covers the 6 meetings during the year. There is a £250 transaction fee charged to each member participating in an investment.
There are no further costs charged to the members by the Syndicate. The membership and transaction fees cover the management costs for the Syndicate and any other associated costs such as room hire, website etc. Management accounts are presented to members at every meeting.
The Syndicate has its own bank account into which membership fees are paid. All finances are then controlled and managed by the management company on behalf of the syndicate.
If members choose to make an investment offer they will decide the terms of their offer and will agree any external transaction costs involved with the investee business as part of their offer.
A PDF copy of the full membership rules application pack can be downloaded below.