On 6 March 2025, Hardman & Co hosted its inaugural Tax Advantaged Forum, in association with GrowthInvest, showcasing new approaches in EIS (Enterprise Investment Scheme) investing.
Hosted by Brian Moretta, Head of Tax Advantaged Research at Hardman & Co, and Steve Dobson, Head of Investment at GrowthInvest, the event brought together five high-calibre fund managers: Vala, EMV Capital, River Capital, Love Ventures and Eos Advisory.
The forum started with a keynote from Brian Moretta, followed by the funds presenting on their strategies and insights, with Q&A moderated by Steve Dobson.
Brian’s presentation explores new approaches in EIS, particularly how EIS investments fit within a diversified portfolio, highlighting their low correlation with traditional asset classes and their potential to improve expected returns without increasing overall portfolio risk. He also breaks down the UK’s generous tax reliefs — from upfront income tax relief to capital gains deferral and loss relief — demonstrating how EIS can be a powerful tool for both tax planning and high-growth investing.
Missed this Forum? Not to worry – you can watch the whole event, or each individual fund below.
James Faulkner, Managing Director of Vala shares how Vala assesses valuations, manages portfolio ups and downs, and why recent vintages have struggled. Learn how Vala evaluates funding rounds and navigates the tough realities of venture capital — including why early failures often come before big wins. With market conditions showing signs of improvement, James explains why patience and strategic insight are key to long-term success.
Ilian Iliev, CEO of EMV Capital, explains the unique investment approach that’s fuelling innovation in deep tech and life sciences. Ilian shares how EMV Capital, an AIM-listed venture capital investor with £100M in assets under management, is building high-growth companies in the UK and beyond. Discover how AI, hardware, and international expansion are shaping the future of venture capital — and how EMV is leading the charge with strategic investments and hands-on support.
Dr Marc d’Abbadie, Head of Venture and COO, and David Walters, Investment Director, explain how River Capital is navigating the fast-moving world of AI and venture capital. They share insights on their Fund AI strategy, how they assess valuations, and why they reserve 20% for non-regional investments. They also discuss the rise of DeepSeek, a Chinese large language model making waves in the financial markets, and how it could democratise AI for businesses.
Marcus Love, General Partner at Love Ventures, shares insights into how the fund supports exceptional founders, reimagining how we spend our time and money. Learn about Love Ventures’ approach to founder-market fit, scalable business models, and navigating exits — including a potential 3x return on a current investment. Discover how experienced founders are driving success and why the UK exit market is showing signs of a comeback.
Mark Beaumont, Partner at Eos Advisory, takes us through its transition from an angel investment group to a major player in venture capital, supporting university spin-outs like Bioliberty, Green Bioactives, and Lavroc Therapeutics. He explains how Eos helps academic founders become commercial successes and position companies for global growth, shaping the future of biotech, medtech and sustainability.
Overall, the March Tax Advantaged Forum offered valuable insights from leading voices in the EIS space. We thank all the presenting funds for joining us and engaging with the Hardman & Co investor community.
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