Calculus plans £25m EIS fund

EIS Fund 15 will target 8-10 UK-based companies across a range of sectors. Average commitments will stand at £2-5m. The vehicle's investment period will have a 12-18-month duration.

The GP intends to exit the majority of companies after a three-year holding period, targeting an IRR of at least 20%.

Earlier this week, Calculus led a £1.7m round for Arcis, a UK-based research and development microbial application tech company, and made a £2.5m commitment to WheelRight, an Oxford-based tyre monitoring technology business.

Earlier this month, the investor appointed Richard Moore as an investment director, marking the firm's third new hire in nine months.

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