One of the interesting facets of the pandemic that has dominated so much this year is that there is a very healthy flow of new EIS funds that are being set up. Perhaps necessity really is the mother of invention!
It was in response to this activity that Hardman put on another New Entrant Network webinar for new entrants to the EIS fund market, on 26th November 2020. Under the title ‘Gaining traction in the financial adviser market’ there was a truly expert panel on hand to answer questions that new entrants might have.
It proved to be a fascinating event raising key issues that new entrants face. Of particular interest was how a new entrant can be heard and noticed until they have built up a track record. The answer here was that the experience of founders prior to starting the fund can be critical, particularly if they have been an entrepreneur themselves.
The point was also made that the EIS world is changing, with an influx of more specialist funds, whether in healthtech, fintech, edtech or any other tech, that are focusing on and taking advantage of the new digital revolution – and that this was to be welcomed.
The choice of custodian was another hot issue, making it clear that due diligence by advisers is now likely to include the choice of third-party suppliers like custodians, particularly after the failure of a major supplier in 2019.
Perhaps inevitably communications were discussed. Surprisingly emails still find favour, but only if done well. Sharp and relevant was a very clear message, allowing the reader to swiftly make up their own mind.
At Hardman we hope that events like this will both help and inspire new entrants as they support and grow exciting young companies. And if you missed the event, don’t worry – watch the video below to catch up.
The New Entrant Network was set up by Hardman & Co in 2018 as a network of trusted suppliers of professional services to help and support new entrant fund managers to the S/EIS market. We are now widening the scope of the network to embrace newer fund managers, including those founded within the past five years. Members of the Network can offer newer fund managers all the diverse elements required to have a successful firm. For example: