Vala launches EIS fund with alternative fee structure

The fund will not charge investors initial fees, annual management charges or other expenses such as administrative, audit and custodian costs. Instead it will charge investors a 20% performance fee on profitable exits, with investee companies covering administration costs via a one-off 6% fee on cash invested.

The firm said the structure was intended to make fees more transparent and create a more success-driven model for the financial rewards it generates as a fund manager.

Vala was launched in 2018 by angel investor and PlayJam founder Jasper Smith, former Prebon Group CEO Arthur Hughes and Paddy Willis, founder of Plum Baby and Grocery Accelerator.

The new fund, Vala EIS Portfolio, will look to make 6-10 investments in companies across sectors including food and beverages, technology, engineering, media and entertainment, fintech and lifestyle.

The vehicle will require a minimum subscription of £25,000, have an expected holding period of more than five years and target a 2x return on investment.

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