The Goodbody EIIS Funds are a series of investment funds that utilise the Employment and Investment Incentive (EII) Scheme to fund Irish SMEs. The Funds are managed by EIIS Management Limited, a joint venture between Goodbody Stockbrokers and Baker Tilly.
The EII Scheme is a tax relief incentive whereby investors can avail of up to 40% tax relief on investments made into qualifying Irish SMEs. Relief can be claimed against income earned in the year of the qualifying investment.
For example, an investment of €50,000 could receive up to €20,000 of tax relief, which translates to an investment cost of €30,000 for the Investor.
To date, the Manager has successfully raised in excess of €55m across six funds. Each Fund Portfolio provides an opportunity to invest in a number of growing small and medium sized companies within Ireland.
The Fund commitment period is for a minimum of 4-years and on exiting, the Fund hopes to receive the initial investment amount with an additional uplift which can range from 10% to 30% The additional uplift is negotiated based on the Manager’s assessment of the risk profile of each company.
Each year, the Fund plans to invest in four to five Irish SMEs. The Fund Investment strategy is sector agnostic and prior investments are spread across a variety of industries including self-storage, distilleries, renewable energy, technology, nursing homes and pharmaceuticals.
The aim of the Fund is to diversify the portfolio across a number of sectors to reduce risk. The Fund follows a comprehensive due diligence process and requires approval from an Investment Committee before any investment is made. The Fund Management team is made up of professional and experienced individuals with over 20 years’ experience..
The EIIS Management team maintain an open dialogue with each investee company, receive and process investment updates regularly, and respond to investor queries. We frequently oversee financial reports from each investee company to ensure there are clear communications on the company’s performance. We also maintain a close relationship with each of our investee companies and make a site visit at least once yearly. The Management team distribute a fund update to each of our investors twice yearly.
The Fund Manager always advises investors to seek professional tax advice before making a decision on their investment.