Blackfinch Investments Limited is authorised and regulated by the Financial Conduct Authority (“FCA”). Our FCA reference number is 153860. Registered address: 1350-1360 Montpellier Court, Gloucester Business Park, Gloucester, GL3 4AH. Registered in England & Wales under No. 02705948.
Blackfinch Ventures is a trading name of Blackfinch Investments Limited who are authorised and regulated by the Financial Conduct Authority (“FCA”).
Blackfinch Asset Management is an appointed representative of Blackfinch Investments Limited who are authorised and regulated by the Financial Conduct Authority (“FCA”).
Blackfinch Spring VCT Plc. Registered company in England and Wales Company no. 12166417.
As a regulated investment firm, Blackfinch Investments Limited is required by the Prudential Sourcebook for MiFID firms ('MIFIDPRU') to make certain public disclosures. Our latest disclosures document can be downloaded here.
Adapt Inheritance Tax (IHT) Service and Adapt Alternative Investment Market (AIM) Portfolios.
The investments referred to on this website may not be suitable for all investors and we recommend that you seek independent tax and financial advice before making a decision. The Blackfinch Adapt IHT Service this is a high-risk investment.
You should carefully consider all the risks relating to each investment. The following risk factors relate to the Adapt IHT Service and Adapt AIM Portfolios. You should carefully consider whether an investment in the Adapt IHT Service or Adapt AIM Portfolios is suitable for you in light of your personal circumstances.
Values and Returns: No representation is or can be made as to the future performance of the Adapt IHT Service or Adapt AIM Portfolios or that the Adapt IHT Service or Adapt AIM Portfolios will receive the level of returns contained within their brochures. The assumptions are assumptions only and these may not be realised. The Adapt IHT Service invest in small, unquoted companies. The Adapt AIM Portfolios invest in growing firms listed on the Alternative Investment Market (AIM). Your capital is at risk and the investment return is not guaranteed. The value of your investment and the returns you receive are dependent on the value of the assets in the company or companies that your money is invested into, and any income they earn.
Taxation: Any changes to the taxation environment or HM Revenue & Customs (HMRC) practice may affect investment returns. Accordingly, you will have your own tax position to consider and must take your own independent professional advice in this matter. You may be liable to make tax payments on any amounts you withdraw from the investment.
Future Performance: Past performance does not imply that future trends will follow the same or a similar pattern. Forecasts made in the brochures may not be achieved. There is a risk that you will not get back the full amount invested.
Liquidity: The Adapt IHT Service and Adapt AIM Portfolios are long-term investments. Shares in qualifying companies have to be held for at least two years at the date of death in order to benefit from the IHT relief. Investments made by these product types are in unquoted companies and therefore are not readily realisable, unlike companies listed on the London Stock Exchange. Any disposal of shares, whether regular or one off, will reduce the value of your portfolios and erode future returns and such disposals will cease to qualify for Business Relief (BR).
Business Relief (BR): We will invest in companies which we reasonably believe qualify for BR, but we can give no commitment that any such investment will remain a qualifying investment at all times in the future. The relief is assessed by HMRC on a case-by-case basis at the time of death of the investor, as part of the probate process, and therefore cannot be guaranteed. The proportion of the investment that is deemed to qualify at that time, assuming it has been held for at least two years and is still held at time of death, can be passed to beneficiaries free of IHT for the Adapt IHT Service or a reduced rate of IHT (20% instead of 40%) for the Adapt AIM Portfolios (from April 2026). The two-year timeframe begins when HMRC deems the investment has become BR qualifying, which may be later than the investment date.
Conflicts of Interest: The Adapt IHT Service or Adapt AIM Portfolios investee companies may acquire shares in, or assets from, other companies managed by Blackfinch Investments Limited. They may also make loans to other entities which are managed by Blackfinch Investments Limited or in which Blackfinch Investments Limited has a financial interest. All loans and transactions will be on an arm’s length basis and will be ratified by the non-executive directors of the investee companies.
Ventures Enterprise Investment Scheme (EIS) Portfolios.
The investments referred to on this website may not be suitable for all investors and we recommend that you seek independent tax and financial advice before making a decision. The Blackfinch Ventures EIS Portfolios and Blackfinch Energy Transition (ET) EIS Portfolios these are high-risk investments.
You should carefully consider the following risk factors in relation to the Blackfinch Ventures EIS and Blackfinch ET EIS Portfolios, together with all other information contained on this website and within the product brochures. The information set out below is not an exhaustive summary of the risks affecting the Blackfinch Ventures EIS and Blackfinch ET EIS Portfolios. You should carefully consider whether an investment in these Portfolios is suitable for you in light of your personal circumstances. In particular, you should consider the following:
Values and Returns: The capital invested in the Blackfinch Ventures EIS or Blackfinch ET EIS Portfolios are at risk. The value of your investment may go down as well as up and you may not get back the full amount invested. There is no guarantee that the targeted return per annum will be achieved. No representation is made or can be made as to the future performance of the Blackfinch Ventures EIS or Blackfinch ET EIS Portfolios, or that either EIS Portfolios will receive the level of returns contained in their brochures. The assumptions are assumptions only and these may not be realised. The value of your investment and the returns you receive are dependent on the value of the assets in the investee companies that the Blackfinch Ventures EIS and Blackfinch ET EIS Portfolios invest your money into and any income they earn.
Taxation: Any changes to the taxation environment or HM Revenue & Customs (HMRC) practice may affect investment returns. Rates of tax, tax benefits and allowances described in the brochures are based on current legislation and HMRC practice and depend on personal circumstances. These may change from time to time and are not guaranteed. Accordingly, you will have your own tax position to consider and must take your own independent professional advice in this matter. You may be liable to make tax payments on any amounts you withdraw from the investment.
Qualifying Investments: We will invest in an investee company which we reasonably believe to be EIS qualifying at the time of investment and we will seek advance assurance from HMRC, but please note there is no guarantee that the investee company will remain EIS qualifying at all times thereafter, or that EIS tax reliefs will be available to investors. A failure of the investee company to meet the qualifying requirements of EIS legislation could result in the withdrawal of EIS tax benefits that have already been obtained, and the requirement to repay any rebated tax. There is no guarantee as to the timing of the availability of the EIS3 certificates that are needed in order to claim EIS tax benefits. Your obtaining the EIS tax benefits is subject to you making the appropriate filings with HMRC. Please note that you will need to hold the investment for at least three years to retain the benefit from the EIS tax reliefs.
Business Relief (BR): The nature of the activities undertaken by the investee companies in which we invest is such that the companies will also qualify for BR. Unlike the EIS tax benefits, it is not possible to obtain any assurance from HMRC that the investee companies will qualify for this relief; it is assessed by HMRC on a case-by-case basis at time of death of the investor, as part of the probate process. The proportion of the investment that is deemed to qualify at that time, assuming it has been held for at least two years and is still held at time of death, can be passed to beneficiaries, free of inheritance tax. The two-year timeframe commences when HMRC deems the investment has become BR qualifying, which may be later than the investment date.
Future Performance: Past performance does not imply that future trends will follow the same or a similar pattern. Illustrations and targets included in the brochure may not be achieved. There is a risk that you will not get back the full amount invested.
Liquidity and Exit: To qualify for tax relief investments made by the Blackfinch Ventures EIS or Blackfinch ET EIS Portfolios must be in unquoted companies. These investments are not readily realisable, unlike companies listed on the London Stock Exchange. The minimum holding period for an EIS investment is three years, which runs from the latter of the date of investment into each EIS company and the commencement of the company trade. You should be prepared to leave your money invested for at least three years as it is unlikely that we will be able to arrange liquidity during the three-year period. If an investor elects to exit during the three-year minimum holding period they will lose the tax reliefs relating to the investment.
Blackfinch is unable to provide any guarantees that investors will be able to dispose of their shares before or after the three-year minimum holding period. The companies into which the Blackfinch Ventures EIS and Blackfinch ET EIS Portfolios invest either generate long-term revenues or would have completed their revenue cycle within four to seven years. It is anticipated that this should make the companies an attractive proposition for sale or refinancing and to give rise to exit opportunities for investors. Although no assurance of this being achieved can be made, Blackfinch is committed to working on the EIS investors’ behalf to procure a timely exit for them.
Diversification: The Blackfinch Ventures EIS and Blackfinch ET EIS Portfolios currently invest across sectors, with a focus on early-stage companies with digital and technological potential. The investments will be spread over at least ten companies. However, the failure of any individual investment will have a significant impact on the overall value of the product, and investors should be aware of the concentrated nature of the portfolios.
Conflicts of Interest: The Blackfinch Ventures EIS and Blackfinch ET EIS Portfolios may be acquired by, or receive loans from, other companies managed by the Blackfinch Group. All loans and transactions will be on an arm’s length basis and will be ratified by the non-executive directors of the investee company.
Blackfinch Spring VCT
The investments referred to on this website may not be suitable for all investors and we recommend that you seek independent tax and financial advice before making a decision.
You should carefully consider the following risk factors in relation to the Blackfinch Spring Venture Capital Trust (VCT), together with all other information contained on this website and within the product brochures. The information set out below is not an exhaustive summary of the risks affecting the Blackfinch Spring VCT. Blackfinch Spring VCT is a Venture Capital Trust (VCT) listed on the London Stock Exchange. You should carefully consider whether an investment in the Blackfinch Spring VCT is suitable for you in light of your personal circumstances. In particular, you should consider the following:
Values and Returns: The capital invested in the Blackfinch Spring VCT is at risk. The value of your investment may go down as well as up and you may not get back the full amount invested. There is no guarantee that the targeted return will be achieved or if the target dividends will be payable. No representation is made or can be made as to the future performance of the Blackfinch Spring VCT. The assumptions are assumptions only and these may not be realised. The value of an ordinary share depends on the performance of the VCT’s underlying assets. In addition, there is no certainty that the market price of ordinary shares will fully reflect the underlying NAV, that shareholders will be able to realise their shareholding or that any dividends will be paid. An investment in the VCT as a company should be viewed as a higher-risk, longer-term investment.
Taxation: Any changes to the taxation environment or HM Revenue & Customs (HMRC) practice may affect investment returns. Rates of tax, tax benefits and allowances described in the brochure are based on current legislation and HMRC practice and depend on personal circumstances. These may change from time to time and are not guaranteed. Accordingly, you will have your own tax position to consider and must take your own independent professional advice in this matter. You may be liable to make tax payments on any amounts you withdraw from the investment.
Qualifying Investments: The Company will invest in unquoted companies in accordance with its investment policy and objectives. Investment in unquoted companies, by its nature, involves a higher degree of risk than investment in listed companies. The Company may be unable to maintain its VCT status, which could result in loss of certain tax reliefs. There can be no guarantee that the Company will fulfil the conditions to obtain, or to enable it to maintain full VCT status. Please note that in order to obtain and retain the tax reliefs investments must be held for a minimum of five years.
Finance Act: The Finance Act introduced a “risk-to-capital” condition for Qualifying Investments, designed to focus investments towards earlier stage, growing businesses, and away from investments which could be regarded as lower risk and these factors could affect the financial performance of the Company, and the returns for Shareholders. The Company may not make any prohibited non-qualifying investments, including those which breach the “risk-to-capital” condition, and the potential penalty for contravention of these rules can include loss of VCT status with a resultant clawback of VCT tax reliefs from investors.
Future Performance: Past performance does not imply that future trends will follow the same or a similar pattern. Illustrations and targets included in the brochure may not be achieved. There is a risk that you will not get back the full amount invested.
Liquidity and Exit: Shares in VCTs are inherently illiquid and there is likely to be a very limited secondary market in the shares, primarily because Income Tax relief is only available to those subscribing for newly issued shares. While a share buyback facility is offered, it is subject to board discretion and the availability of distributable reserves, and may therefore not be available when a client wishes to sell shares. There may also be constraints imposed on the realisation of investments to maintain the VCT tax status of the Company.
Diversification: The Blackfinch Spring VCT currently invest in a diverse range of tech-enable companies, with a focus on growth-stage companies that can show they’re generating revenues and are building their customer base. The investments will be spread over at multiple companies. However, the failure of any individual investment will have a significant impact on the overall value of the product, and investors should be aware of the concentrated nature of the portfolio.
Conflicts of Interest: The Blackfinch Spring VCT investee companies may be acquired by, or receive loans from, other companies managed by the Blackfinch Group. All loans and transactions will be on an arm’s length basis and will be ratified by the non-executive directors of the investee company.
Asset Management Adaptation Range (MPS) and Tailored Portfolio Service (TPS)
The investments referred to on this website may not be suitable for all investors. It is available through financial advisers, with whom investors should consult before making a decision. You should carefully consider the following risk factors together with all other information contained on this website.
The MPS and TPS represent a medium to long-term investment and can be viewed as such. The range of assets, to which the Blackfinch Asset Management investment solutions provide exposure, all bring levels of investment risk. It is important that you work with your adviser to understand levels of return in relation to levels of risk and what is most suited to your risk profile. The product suite also includes a Tailored Portfolio Service (TPS) allowing advice firms to create bespoke model portfolios which are tailored to their requirements/their client base’s requirements.
Please bear in mind that fees and charges can affect investment performance. You can refer to the relevant portfolio factsheet detailing the annual management charge, along with the costs involved in investing in the underlying funds that form the portfolio. This can help to plan effectively.
Capital at Risk: Past performance is not a guide to future performance. The value of investments, and income from them, may go down as well as up. You may get back less than you invested. Changes in rates of exchange may adversely affect the value of an investment. Changes in interest rates may impact the value of fixed interest investments. The value of your investment may be impacted if issuers of underlying fixed interest holdings default, or perception of their credit risk changes in the market. There are additional risks related to investments in emerging or developing markets.
Volatility Risk: The value of investments can go up and down. Volatility measures the rate at which they do. Equities are usually higher volatility than bonds, while cash is low volatility. There is a relationship between the level of volatility you take on in investing and the expected return. Greater volatility brings the potential for greater returns but also greater losses.
Inflation Risk: Inflation is a general increase in prices and a fall in the purchasing value of money. It can affect the value of assets in which you have invested. Cash is the asset most susceptible to inflation risk. There is also a relationship between interest rates and rates of inflation. If the interest rate payable on cash is below the rate of inflation, the real value of cash is reduced.
Currency Risk: While as a UK investor you will view investments in Sterling, assets such as overseas company shares may be priced in foreign currencies. Their values will be dependent on the prices of the assets and the relationships of the currencies with the pound. In this way, foreign currency investments can be more volatile.
Evolve Asset-Focused Enterprise Investment Scheme (EIS) Portfolios (Closed Product) and Evolve Media EIS Portfolios (Closed Product).
You should carefully consider all the risks relating to each investment. The following risk factors relate to the Evolve Asset-Focused EIS Portfolios and Evolve Media EIS Portfolios, hereafter referred to as the “Evolve EIS Portfolios”. The following risk factors relate to the Evolve EIS Portfolios and you should carefully consider whether an investment in the Evolve EIS Portfolios is suitable for you in light of your personal circumstances.
Values and Returns: The capital invested in the Evolve EIS Portfolios is at risk. The value of your investment may go down as well as up and you may not get back the full amount invested. There is no guarantee that the targeted return per annum will be achieved. No representation is made or can be made as to the future performance of the Evolve EIS Portfolios, or that the Evolve EIS Portfolios will receive the level of returns contained in the brochures. The assumptions are assumptions only and these may not be realised. The value of your investment and the returns you receive are dependent on the value of the assets in the investee company that the Evolve EIS Portfolios invest your money into and any income they earn.
Taxation: Any changes to the taxation environment or HMRC practice may affect investment returns. Rates of tax, tax benefits and allowances described in the brochures were based on current legislation and HMRC practice and depend on personal circumstances. These may change from time to time and are not guaranteed. Accordingly, you will have your own tax position to consider and must take your own independent professional advice in this matter. You may be liable to make tax payments on any amounts you withdraw from the investment.
Qualifying Investments: We will invest in an investee company which we reasonably believe to be EIS qualifying at the time of investment, but please note there is no guarantee that the investee company will remain EIS qualifying at all times thereafter, or that EIS tax reliefs will be available to investors. A failure of the investee company to meet the qualifying requirements of EIS legislation could result in the withdrawal of EIS tax benefits that have already been obtained, and the requirement to repay any rebated tax. There is no guarantee as to the timing of the availability of the EIS3 certificates that are needed in order to claim EIS tax benefits. Your obtaining the EIS tax benefits is subject to you making the appropriate filings with HMRC. Please note that you will need to hold the investment for at least three years to retain the benefit from the EIS tax reliefs.
Business Relief (BR): The nature of the activities undertaken by the investee company in which we invest in is such that the company will also qualify for BR. Unlike the EIS tax benefits, it is not possible to obtain any assurance from HMRC that the investee company will qualify for this relief; it is assessed by HMRC on a case-by-case basis at time of death of the investor, as part of the probate process. The proportion of the investment that is deemed to qualify at that time, assuming it has been held for at least two years and is still held at time of death, can be passed to beneficiaries, free of Inheritance Tax. The two-year timeframe commences when HMRC deems the investment to have become BR qualifying, which may be later than the investment date.
Future Performance: Past performance does not imply that future trends will follow the same or a similar pattern. Forecasts made in the brochures may not be achieved. There is a risk that you will not get back the full amount invested.
Liquidity: Evolve EIS Portfolios are a long-term investment. Investments made by the Evolve EIS Portfolios are in unquoted companies and therefore are not readily realisable, unlike companies listed on the London Stock Exchange. You should be prepared to leave your money invested for at least three years from the commencement of trade. We will not be able to arrange liquidity in the underlying investments during the three-year period.
Diversification: Evolve EIS Portfolios will invest in one sector. Therefore, there will be limited diversification, which could increase the risk for investors.
Conflicts of Interest: Evolve EIS Portfolios may be acquired by, or receive loans from, other companies managed by Blackfinch Investments Limited. All loans and transactions will be on an arm’s length basis and will be ratified by the non-executive directors of the Evolve EIS portfolios investee company.
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The views expressed herein do not constitute investment or any other advice and are subject to change. They do not necessarily reflect the views of Blackfinch Investments Limited or any part thereof and no assurances are made as to their accuracy.