Member Article

First investments made for Conviction Investment Partners oversubscribed Founders Fund

Conviction Investment Partners (Conviction) has closed The Founders Fund to new investors. The fund was oversubscribed with £5.7 million.

Conviction aimed to raise up to £5 million for its first fund, the Founders Fund, to facilitate a greater number of ‘incubator’ investments in early stage companies, with four investments already made.

The objective of the Founders Fund is to generate long-term capital gains from an investment portfolio of early stage tech businesses, and it will back 10 – 20 post revenue software companies with investment of £100,000 to £500,000.

Conviction Investment Partners is one of the top three angel investment groups in the UK*, focusing on fast-growing, B2B, Software-as-a-Service (SaaS) businesses across the globe, predominantly in Europe and the UK. Conviction seeks to identify, fund and help build multi-billion-dollar businesses that have the potential to generate exceptional returns to investors.

The Conviction Partnership is led by founding shareholder Andrew Jenkins, who has invested in disruptive technologies for 10 years, most notably Mimecast, which is now Nasdaq listed at over $2bn.

His business partner is Jeremy Middleton CBE, Chief Executive Officer of Newcastle based investment company Middleton Enterprises Limited, and co-founder of HomeServe plc, now a FTSE 100 company valued at over £3bn.

Andrew Jenkins said: “A number of Conviction investors requested to co-invest alongside the Founders in early stage, incubator opportunities. They were attracted to higher potential returns of investing in younger companies, with lower valuations and more growth potential.

“The Founders Fund investors have a unique opportunity to co-invest in Conviction deals alongside the Founders on the same terms and entry points and four exciting investments have already been made.”

Jeremy Middleton said: “Conviction and its Founders have a strong track record of successfully deploying capital in early stage, SaaS-based companies. The Founders Fund will enable Conviction to allocate more capital to a greater number of early stage businesses.”

*UK British Angels Association

This was posted in Bdaily's Members' News section by News Gathering .