Jenson SEIS Fund

The Jenson SEIS Fund was launched in 2012, the same year SEIS was introduced.

Manager Jenson Funding Partners (“JFP”) is an established early-stage investor. It follows a broadly generalist strategy, seeking tech-enabled businesses with a defensible offering. Companies will primarily be sourced from JFP’s existing network and those with potential may ‘graduate’ to its EIS fund. 

To date, the fund has invested £20.3 million into 143 companies. Of these, ten have returned cash to investors (seven profitably) generating exit proceeds of £3.9 million and exit multiples of 0.07x to 8.85x. 75 companies have failed. The remaining portfolio balance is valued at £22.2 million (June 2024). Past performance is not a guide to the future. 

  • Target return of 3x over 5-7 years – not guaranteed 
  • Aims to invest in 8 to 12 companies – not guaranteed
  • Minimum investment £10,000 – you can apply online 
  • Next deadline: 31 July for August 2024 deployment – not guaranteed

Important: The information on this website is for experienced investors. It is not a personal recommendation to invest. If you’re unsure, please seek advice. Investments are for the long term. They are high risk and illiquid and can fall as well as rise in value: you could lose all the money you invest.

The manager

Jenson Solutions Ltd (“JSL”) was established in 2001 by Paul Jenkinson and Sarah Barber, to provide strategic, financial, and operational solutions to small businesses. In response to the introduction of the Seed Investment Enterprise Scheme, the pair set up Jenson Funding Partners (“JFP”) in 2012, with the aim of raising and providing capital to early-stage businesses. 

The funds are led by co-founder Sarah Barber and Chief Investment Officer Jeffrey Faustin. 

Sarah is a Chartered Accountant and was part of the team responsible for creating the first Jenson SEIS Fund in 2012. She is now CEO. Jeffrey has a background in engineering and made the transition to finance after completing an MBA in 2012. He joined JFP in 2013 and is now responsible for managing all aspects of the investment process. 

They are supported by a team of seven, including partners Simon Hofmann and Mitul Ruparelia, co-founders of consultancy Fortius Partners. The team can also draw on the resources of JSL where required.

Before your subscription is invested, the cash will be held by the custodian, Bennett Brooks & Co Limited. Shares will be held by the nominee, JFP Nominees Limited. 

Meet the manager: Jeffrey Faustin, Jenson Funding Partners


Investment strategy

JFP receives over 2,500 pitches a year through its network of incubators and accelerators, universities, corporate finance houses, professional services providers, VC and PE houses. 

Jenson favours companies with scalable business models and some pre-existing momentum, run by ambitious and driven entrepreneurs. These businesses should be addressing market gaps with innovative and disruptive technology.

All potential investee companies are required to make two presentations: first to the review panel and, if successful, to JFP’s investment committee. JFP also conducts extensive pre-selection assessments, interviewing the management teams over a series of calls and meetings to determine their suitability for the fund. 

Post-investment, a JFP portfolio manager or a nominated non-executive director attends board and senior management meetings. Regular contact allows the team to monitor progress and provide support when needed, prepare companies for the next stage of growth as well as help avoid common pitfalls.

The manager will also introduce its investees to trusted third-party service providers. For example, JFP has connected several of its companies with a B2B SaaS professional with experience of scaling operations to help them structure their value propositions and sales processes.

The fund targets a return of £3 for every £1 invested, excluding tax relief, over a period of five to seven years, not guaranteed.


JFP is a generalist investor but prefers technology-based businesses. In total, Jenson has invested in 143 companies since its first SEIS fund was launched in 2012.

SEIS investors will receive a portfolio of eight to 12 companies.

Below are portfolio company examples from previous iterations of the fund. They are outlined to give a flavour of the types of companies you might expect but are unlikely to be part of a new investor's portfolio. 

Examples of previous portfolio companies


Axioma is an online marketplace for car bodywork repairs. It connects car owners with local technicians, repairing paintwork scratches, bumper scuffs, dents and scrapes at competitive prices at customers’ homes.

The business was founded by Stefano Sironi in 2018, and initially expected to sell to auto-insurers, but quickly found that was difficult. So, it pivoted to serve car owners directly – helping them get a better deal by having an industry expert negotiate with technicians on their behalf to get a fair price.

Since 2018, the company has connected thousands of car owners with technicians and now operates across the UK. Long term, it hopes to expand into other service areas as well as expanding internationally. 

The Jenson SEIS fund invested £116,000 in February 2021, with the position now valued at 10.7x cost. Past performance is not a guide to the future. 

Mangrove-Energy-Jenson-SEIS.jpgMangrove Energy – recent investment

Mangrove Energy aims to power people’s homes with electricity generated entirely from renewable sources – solar or wind. 

It seeks to manage large-scale, battery-backed renewable farms which are much cheaper to build and run than home-installed systems. It then supplies electricity through the National Grid from those farms, or stored in its renewable energy charged batteries, without having to supplement it with wholesale electricity bought on the ‘spot market’ at prices which are largely determined by the price of natural gas.

As a result, Mangrove should be able to provide users with reliable, cheaper renewable energy.

The Jenson SEIS fund invested £128,000 in April 2024, at a £2.0 million pre-money valuation.

One-touch-Jenson-SEIS.jpg OneTouch – example of previous exit

OneTouch was founded by Dermot Clancy and Ray Moloney to develop a digital platform to help care providers manage their operations from a single app. 

The platform can support and streamline scheduling, billing, payroll and financial reporting, as well as including client records and allowing updates to family members. By the time Jenson exited the business in October 2022, OneTouch was supporting the delivery of over 2 million care hours a month. 

Jenson initially invested £150,000 in the business in March 2016, generating a realised return of 8.9x when it sold its stake as part of a significant investment by private equity group August Equity. Past performance is not a guide to the future.

Kitcho – example of previous failure 

As is to be expected with young companies, not all succeed. Kitcho, operator of delivery-only restaurants known as “dark kitchens” is an example.

Jenson originally invested in Kitcho in 2021. The company, trading as The Neighbourhood Kitchen, believed its small margin would increase as the business grew, however in the short term the company proved incredibly vulnerable to price rises. That meant the business was hit hard by the change of economic conditions early in 2022, when energy and food costs rose. A deal that the company had been working on also fell through due to a change in personnel and strategy.

The company did not feel it had a viable business and given the small cash reserves, the decision was made to put the company into liquidation and a liquidator was appointed in December 2022.


Since its inception, the fund has invested £20.3 million into 143 companies. Of these, 75 have failed, 10 have returned cash to investors, seven profitably, generating exit proceeds of £3.9 million. Exit multiples have ranged from 0.07x to 8.8x. The remaining portfolio balance is valued at £22.2 million (June 2023). Please note: past performance is not a guide to the future.

The chart below shows the average performance of the total subscribed into the funds in each full tax year from launch to 2023/24. Please note, individual investor portfolios’ performance will deviate from the average.

Performance per £100 invested in each tax year

Source: JFP, as at 7 June 2024. Past performance is not a guide to future performance. The chart shows realised returns (where share proceeds have been returned to investors as cash) and unrealised returns (where cash has not yet been returned and the value of the investments is based on the manager’s own valuation methodology). There is no ready market for unlisted shares. The figures shown are net of all fees and do not include any income tax relief or loss relief.

Risks – important

This, like all investments available through Wealth Club, is only for experienced investors happy to make their own investment decisions without advice. 

SEIS investments are high-risk and should only form part of a balanced portfolio. As must be expected with early-stage investments, some or even all of the companies in the portfolio could fail: the fewer the companies included in the portfolio, the higher the risk of loss if things don’t go to plan. You should not invest money you cannot afford to lose.

There is no ready market for unlisted SEIS shares: they are illiquid and hard to sell and value. There will need to be an exit for you to receive a realised return on your investment. Exits are likely to take considerably longer than the three-year minimum SEIS holding period; equally, an exit within three years could impact tax relief.

To claim tax relief, you will need SEIS3 certificates, normally issued once shares have been allotted. This can take several months: please check the deployment timescales carefully. Tax reliefs depend on the portfolio companies maintaining their SEIS-qualifying status. Remember, tax rules can change and benefits depend on circumstances.

Before you invest, please carefully read the Risks and Commitments and the offer documents to ensure you fully understand the risks. 


A summary of the main charges and savings is shown below. Some of these will be payable by the investor, whilst others by the investee companies. The investment may have additional charges and expenses: please see the provider documents, including the Key Information Document, for more details.

Investor charges
Full initial charge
Wealth Club initial saving
Net initial charge through Wealth Club
Annual management charge
Administration charge
Dealing charge
Performance fee 35%
Investee company charges
Initial charge 9.5%
Annual fees
The fees and charges above are stated exclusive of VAT, which applies in some cases, as determined by the manager. Please check the VAT position carefully in the provider documents. Any fees and charges payable by the investee companies or the underlying businesses do not directly come out of your investment. However, they will effectively reduce the returns generated by investee companies and therefore impact your investment.

More detail on the charges

Our view

JFP is an active early-stage investor. It has amassed a sizeable investment portfolio of 143 investee companies since launch in 2012. JFP may, therefore, be seen as a destination for entrepreneurs seeking seed investment – this could enhance its access to deal flow. While the investment team is small in proportion to the number of companies in the portfolio, JFP has been active in this area for over a decade and is confident in its ability to continue identifying and supporting promising companies.

Wealth Club aims to make it easier for experienced investors to find information on – and apply for – investments. You should base your investment decision on the offer documents and ensure you have read and fully understand them before investing. The information on this webpage is a marketing communication. It is not advice or a personal or research recommendation to buy any of the investments mentioned, nor does it include any opinion as to the present or future value or price of these investments. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination. 

The details

Target return
Funds raised / sought
Minimum investment
31 Jul 2024 for Aug 2024 deployment
Last updated: 21 June 2024

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