New fund to support “groundbreaking” UK university deeptech spin-outs

A new fund has been launched to support spin-out deeptech businesses from UK universities.

EIS fund Parkwalk has launched one of the first HMRC Approved Knowledge Intensive EIS Funds open to retail investors to support university deeptech spin-out businesses.

The fund, which aims to support startups within university departments, will close at the end of the tax year in April 2021.

Moray Wright, CEO of Parkwalk, commented: “At a time of immense global change, we are pleased to be able to build on our recent success and offer this new Parkwalk EIS Knowledge Intensive Fund to investors.

“The fund will sit alongside our evergreen Parkwalk Opportunities EIS Fund, and follows the successful close early this year of our latest university specific EIS funds, the Imperial College Innovation Fund I and University of Cambridge Fund VII.

“The Parkwalk EIS Knowledge Intensive Fund takes advantage not only of the UK’s word leading position in R&D and our position as the most active investor into UK university spinouts, but also the government’s support for this sector to allow a simpler EIS investment.”