We are the UK’s leading legal advisers on Venture Capital Trusts (VCTs) and have been active in the Enterprise Investment Scheme (EIS) space since its inception. Our deep understanding of both schemes, and the evolving tax and regulatory frameworks surrounding them, makes us a go-to adviser for fund managers, investment firms, and high-growth companies.
Whether you’re launching a new VCT, running an established EIS platform, or investing in early-stage businesses via SEIS, we help structure deals that are compliant, efficient and aligned with your long-term objectives.
Venture Capital Trusts (VCTs)
VCTs are publicly listed funds that invest in qualifying UK SMEs and offer investors significant tax benefits, including income tax relief, tax-free dividends, and capital gains exemptions. These vehicles remain a cornerstone of the UK’s early-stage investment landscape and we’ve played a leading role in shaping their evolution.
- We’ve advised on over 75% of all public VCT fundraisings launched in the past five years
- We currently act for 8 of the 10 largest VCT managers by total assets under management
- Since 2021, we’ve advised on VCT fundraisings worth more than £2 billion
- Our team includes members of the AIC’s VCT Technical Committee and the EIS Association Board
Thanks to our wholly owned and FCA-authorised subsidiary, Howard Kennedy Corporate Services LLP, we’re uniquely positioned to act as both legal adviser and sponsor on VCT fundraisings, streamlining the process and reducing the friction between different service providers.
Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS)
We’ve advised on EIS matters since the scheme was introduced and continue to act for startups, investors, fund managers, and platforms using EIS and SEIS as part of their growth or investment strategy.
Whether you’re launching a discretionary EIS fund, supporting SEIS-qualifying startups, or planning a secondary raise for an established company, we’ll help you navigate tax rules, compliance requirements and market expectations.
Keith Lassman, who leads our practice, is Deputy Chairman of the EIS Association, and the team brings decades of practical experience supporting EIS companies throughout their lifecycle, from incorporation and fundraising through to exit via trade sale or IPO.
We regularly advise on:
- Fund structuring and formation
- Regulatory and governance frameworks
- SEIS/EIS compliance and investment approvals
- Mergers, acquisitions, disposals, and exits
- IPOs and listings via AIM or the Main Market
We also support ongoing corporate and commercial matters, offering strategic advice that reflects not just regulatory requirements, but the realities of growing, funding and eventually exiting high-growth businesses.
Our clients benefit from a rare combination: legal and sponsor services under one roof, delivered by a team with a market-leading track record in venture capital investment.
Whether you’re structuring your first fund, scaling an EIS platform, or investing in the next generation of UK businesses, we’ll give you the clarity and confidence to move forward.
