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Has anyone invested in an EII project/scheme?

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Comments

  • Registered Users Posts: 251 ✭✭travist


    thanks TtocsNag,

    interesting that it is not considered as currenctly EIIS eligible. On the site, it has a EIIS label,  https://www.sparkcrowdfunding.com/campaign/asx2

    However, checking the document is said

    • The investment qualifies for 40% EIIS tax relief when the conversion happens at the Series A
    • round. Therefore, an investment of €10,000 would receive a €4,000 tax rebate. (Irish
    • Taxpayers only.)

    I would it this exercise is a case of getting just 40% back :(



  • Registered Users, Registered Users 2 Posts: 1,015 ✭✭✭Curious Geroge


    I've typically used McKeogh Gallagher Ryan but there investment booked out early this year. Anyone have recommended EIIS opportunities ?



  • Registered Users Posts: 270 ✭✭rebelle


    Alpha Wealth (www.alphawealth.ie) have two schemes, closing date Thursday 14th December. One relates to a Distillery, the other a Restaurant and Café Roastery.

    I’ve invested in a number of schemes with them over the years and would recommend them. Their fee is 2%



  • Registered Users, Registered Users 2 Posts: 499 ✭✭notsocutehoor


    MGR had said that they were looking at doing an additional one to accommodate disappointed customers, but its running a bit late now. Green Crowd have 2 offerings, both in the green energy area, here is a link to their webinar

    https://www.youtube.com/watch?v=mwpSdw7Ug6M



  • Registered Users, Registered Users 2 Posts: 5,638 ✭✭✭caviardreams


    Think there is still space in the quintas fund too last I heard. They are up front about the targeted relief of 35%with the new rates

    https://eiis.fund/



  • Registered Users, Registered Users 2 Posts: 1,015 ✭✭✭Curious Geroge


    Anyone experience with BVP ? I got some information that since 2014, BVP EIIS products that are outside of their minimum holding period (so that 2014 to 2019/20) have generated average returns of 154% including invested capital and tax relief so a 10% return on the 40% relief. Seems good but anyone here experienced this ?



  • Registered Users, Registered Users 2 Posts: 499 ✭✭notsocutehoor


    I have no experience with BVP, but just be aware that anything invested in their 2023 fund will have the new EIIS tax rules applied on that investment, so you won't be getting the 40% tax relief



  • Registered Users Posts: 2,714 ✭✭✭Nermal


    The annual scramble to get prospectuses, peruse them, get the application form filled in and the transfer or draft done before the fund closes is so tiresome.

    There's a real gap in the market here for an institution that would take applicant details up front, take monthly or ad-hoc payments during the year and keep them in money market funds or the like, and then automatically invest right at the end of the year with a few different funds to maximise diversification.



  • Registered Users, Registered Users 2 Posts: 1,015 ✭✭✭Curious Geroge


    Loosing confidence in these, the more research I do the more I realise very few are seeing lump sums back after 4 years, seems 7 would be average.



  • Registered Users Posts: 226 ✭✭DUBLINIRL


    I've seen a few people mention they invested in this scheme after their financial advisor did the due diligence on the companies.

    I would be interested to know what qualifications these financial advisors have and what information (at a high level) was in the report they provided to you.



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  • Registered Users, Registered Users 2 Posts: 499 ✭✭notsocutehoor


    Just from experience I've never had to wait 7 years for my return, generally speaking it's been within a few months of the 4 years, in one case I've had the repayment split over 2 years (year 4 & 5). just my experience.



  • Registered Users Posts: 63 ✭✭Kinsailor


    Any updates on this thread on EEIS Investments 8-15 years on from many of the original posts : I am especially interested in feedback in BVP given that their initial funds were in 2006/2007 and they continue to advertise for EIIS funds each year (including 2023).

    My alternative is to go with a larger reputable provider such as Davy, BDO etc but I fear that their fees may be extortionate

    Thanks for any comments.



  • Registered Users, Registered Users 2 Posts: 499 ✭✭notsocutehoor


    There is a post by sector_000 on page 3 where he/she lists how he/she has done - all individual investments. I have a history going back to 2007 (back then it was BES) except for a couple of years, all repaid as promised to date, a few a little bit slow. I have one current outstanding which should have been repaid by now but I am not overly concerned about it. All of mine have also been individual investments.

    There is a slightly worrying post on page 2 by gman1987 about the BVP 2019 fund. While I know nothing about the BVP, Davy, or BDO funds, I'd assume they are all pretty similar.



  • Registered Users, Registered Users 2 Posts: 5,638 ✭✭✭caviardreams


    Just got over the line with the usual paperwork rush.

    Got an email from BVP fund yday asking if there was interest as some spaces left - need to apply by Dec 30



  • Registered Users, Registered Users 2 Posts: 1,015 ✭✭✭Curious Geroge


    BVP were turning on the urgency throughout the last couple of weeks, main reason I felt it best to leave it this year as it didn't sit well. Will have to watch this year, see what I missed out.

    These "fees" were also a concern, if I go direct versus a broker, it's still 3%. I was told by BVP that the 3% it's used to manage the portfolio, but in the same breath told that if it's a broker, the broker gets the 3% so it's not the truth (or really inaccurate information been provided).



  • Registered Users, Registered Users 2 Posts: 5,638 ✭✭✭caviardreams


    I think there will be a big drop off in EIIS interest now with the 30% from 2024 - which has effect with the current batch of funds. Imagine all the funds may have been similarly affected and companies may find it tougher to raise funds



  • Registered Users, Registered Users 2 Posts: 499 ✭✭notsocutehoor


    Probably, but it is still a very cheap source of funds for business so I suspect there will be better (non-tax) returns available from next year on, if there aren't I think it will die a death



  • Registered Users, Registered Users 2 Posts: 448 ✭✭sector_000


    I think the new EIIS tax relief rates will kill it off.

    It's a turn-off for me... and I've gone into EIIS every single year since 2012!

    As the Dragons would say.... I'm out.🐲



  • Registered Users, Registered Users 2 Posts: 448 ✭✭sector_000


    EIIS needs to pay a decent return to attempt to cover the risk behind such undiversified investments.

    I've definitely had some painful hits over the years.



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  • Registered Users Posts: 234 ✭✭social butterfly 2020


    I just stung with this thinking it was EIIS eligible. Hoping we get some sorta tax rebate. 🙏.



  • Registered Users Posts: 251 ✭✭travist


    Anyone hear anything from Spark Crowdfunding regards ASX (ASX2) SAFE investment? Last I hear was a need to vote on the shareholding type.. to switch it to EIIS back in Dec 23.



  • Registered Users Posts: 234 ✭✭social butterfly 2020




  • Registered Users Posts: 251 ✭✭travist


    well that’s not good.

    Any idea if the ‘Simple Agreement for Future Equity’ will qualify for the EIIS credit?



  • Registered Users Posts: 234 ✭✭social butterfly 2020


    Not at the moment as far as I know. Will be a lot of people outta pocket soon enough unfortunately. That's the risk of it.



  • Registered Users Posts: 251 ✭✭travist


    974 investors with an average loss of about 3,300 each.. (about 3M eur funding)

    If not EIIS, I wonder if the loss can be used as a tax loss?



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  • Registered Users Posts: 234 ✭✭social butterfly 2020




  • Registered Users, Registered Users 2 Posts: 21,808 ✭✭✭✭Water John


    Three med tech, EII options were mentioned today on a Business Post message on my phone. All three are university spin outs: PumpinHeart, AVeta Medical, AuriGen Medical. Videos on sparkcrowdfunding.



  • Registered Users, Registered Users 2 Posts: 1,015 ✭✭✭Curious Geroge


    Is anyone aware of Farrangalway Solar Farm raising funds with 50% relief ?



  • Registered Users, Registered Users 2 Posts: 499 ✭✭notsocutehoor


    Yea got the email, haven't looked into it too much yet but will have a good goo when I get the prospectus. Looks good on the face of it.



  • Registered Users Posts: 555 ✭✭✭doctorg




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  • Registered Users, Registered Users 2 Posts: 5,638 ✭✭✭caviardreams


    Anyone fancy investing in quinns pub (owned by Jay bourke)!? 😮

    https://www.quinnsisback.com/



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