EIS Investments for Sophisticated Investors

Endeavour Ventures Wins EISA Best Exit of 2017 Award!

Posted on 12th February 2018 in R5FX Ltd




Endeavour Ventures has won the “Best Exit Award” at the Enterprise Investment Scheme Association’s February House of Lords event for its investment into the software business Blue Prism Group Plc. The Award was sponsored by Mainspring Fund Services and judged by an independent panel of industry professionals.

“This recognition is most welcome as Blue Prism Group Plc is precisely the kind of growth story that the tax breaks were intended to support” said Bill Cunningham who collected the award. “Some exceptional returns have come out of a relatively modest initial investment. The founder and his team have delivered their original vision and thoroughly deserve their success”.

Transaction History

In mid-2006 Endeavour was amongst the first to back Blue Prism Ltd which later became Blue Prism Group Plc. Over the following 12 years it evolved into a classic software growth company story, pioneering software-derived process automation to a diverse list of clients. The founding CEO Alastair Bathgate remains at the helm.

The company listed on the Aim market in March 2016 and Henderson Investec handled the flotation. A 12-month lock-in fell away in March 2017.

Endeavour’s HNW investors initial 2006 subscription was priced at £11.40 which reduced to 11.4 pence through a 100 for 1 share split. Additional shares were later issued in lieu of subscription protection, which fell away at flotation.

The Blue Prism Group Plc Market Cap on 16/02/2018 was £969.29m giving Endeavour’s initial investors a return of 150X.

At its peak in November 2017 the share price topped £16.38 briefly taking it into “unicorn” territory before falling back again.

Mark Brownridge, current Director General of the EIS Association commented; “Congratulations to the Endeavour team for their success at our EISA awards. The EISA awards seek to promote excellence within the EIS/SEIS industry and Endeavour have embodied that spirit by supporting and developing an entrepreneurial business like Blue Prism over a long period of time, guiding them towards an exit that will have no doubt generated much excitement from their investors. The judges were hugely impressed with Endeavour’s entry, particularly as it showcases the fact that EIS is perfectly positioned to not only inject much needed funds into small, fast growing UK businesses, but also to provide investors with significant growth returns in addition to the generous tax reliefs on offer.”

About Endeavour Ventures

Endeavour’s team has been exclusively investing into growth EIS technology companies since 2006.  They have introduced in excess of £150m of direct EIS funding into over 40 companies, and developed a robust track record over 12 years across a diversified portfolio.

Their investment focus is principally but not exclusively on software, fintech platforms, property and legal tech, pay-tech, the cloud and related technologies, and IoT.

Recognising that their approach to growth investing has a longer-term perspective than most EIS managers, Endeavour invests outside a managed fund structure aligning themselves with investors upon exit. They complete comparatively few deals each year, do not charge management fees, and their portfolio product may only be accessed directly through Endeavour itself.

About Blue Prism Group Plc

Blue Prism invented the term Robotic Process Automation. Our software platform enables business operations to be agile and cost effective through rapid automation of manual, rules based, back office administrative processes, reducing cost and improving accuracy by creating a “digital workforce”. More info here.



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