DFJ Esprit — a UK division of Silicon Valley VC heavyweight Draper Fisher Jurvetson — is closing its second EIS Angel Co-Investment Fund of up to $15 million, according to TechCrunch. The fund will help angels invest as syndicate partners with DFJ Esprit’s larger investments from institutional funds.
The Angels EIS fund is closely linked to a UK-government initiative, the Enterprise Investment Scheme (note: the difference between Europeans and Americans is that Europeans find it necessary to put ‘Scheme’ in their government program names.) The ‘Scheme’ offers tax-break rewards and encourages investments of up to £1 million in investments in UK or UK-owned startups. and offers rewards by way of tax breaks.
There’s also a Seed Enterprise Investment Scheme, and frankly, all this tax stuff gets kind of complicated. So complicated, in fact, that I’m just going to provide you the link — righttttt here — and suggest you read the whole thing. ‘Cuz it’s Saturday night and I’m not trying to learn about taxes. Feel me? #LazyBoy #StartupProblems #OnMyGrindDoe #ButNotReally