AltAssets – Oxford-based venture capital firm Oxford Capital has launched its fifth Oxford Gateway Enterprise Investment Scheme Fund. The firm expects that it will be open to new investors for about a year. It aims to raise between £15m and £20m for the new vehicle.
Historically, Oxford Capital has raised most of its capital from high-net-worth individuals and also from a group of institutional investors. The investor base for the new fund is likely to have a similar structure.
Fund 5 is designed for investors with a minimum investment of £25,000 and up to a maximum of £2m. It has a minimum holding period of three years if full tax advantages are to be captured.
The announcement of Fund 5 means that Fund 4 is now closed to investors, but the firm still continues to invest from the £12.5m fund. Fund 4 received commitments from 140 investors.
The £11.6m Fund 3, closed in 2006, is fully invested now, with a portfolio of 18 companies.
The Oxford Gateway Fund No. 5 will continue to invest venture capital in innovative early and development stage companies across the healthcare, sustainability and communications sectors. Oxford Capital told AltAssets that it plans to invest mainly within the £750,000-to-£1.25m range per company. The new fund is expected to build a portfolio of 15 to 20 investments in total.
