The Praetura EIS Growth Fund is a discretionary portfolio service, which will provide a portfolio of investments in unquoted companies. The target return is an aggregate of 2x capital over 5-7 years. Returns will be focused on capital gains, and investors are unlikely to receive any dividends. The fund is evergreen with two tranches a year.

Why invest


  • Strategy: Exposure to a portfolio of companies across a range of sectors, with around two thirds likely to be based in the north of England.


  • Track record: Although the track record to date looks promising, it still lacks depth for the number of exits.


The investment manager


  • Team: Diverse range of experience in team, with clear strategy and well-structured approach for post-investment support.


  • Rate of growth: While Praetura is confident in the strength of its deal flow, it has added some new funds recently.


Nuts & bolts

  • Duration: The fund is evergreen, with two closes a year, on 30 April and 31 October.
  • Diversification: The manager expects to provide between 8 and 10 investments.
  • Valuation: Co-investments in the VCT will be revalued in line with its policy, otherwise no formal valuation, with most recent transaction the main indication.


Specific fees

  • Fees: Combination of direct fees and company charges. The annual management fee is mostly accrued and recovered from exits.
  • Performance fee: Charged at 20% on aggregate returns over 120% of gross subscription on a portfolio basis.



  • Target returns: The target return of 2x capital suggests a high-risk investment strategy.
  • Companies: Supplying risk capital to early-stage companies, most of which will rely on technology. There will be a spread of company returns as the successful ones will do very well, but those that fail may do so completely.
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