Onside Issue 6 - 17

17

Criteria

What Seneca Look For

Investment Size

Typically £0.5m - £2m, however these are not fixed thresholds

Valuation

Reasonable entry valuations based on relevant market comparables,
growth assumptions and business dynamics

Management Team

High quality, motivated management teams, with relevant industry
expertise and a strong track record

Growth Prospects

Proven concept and customer traction, with excess demand for products/
services within the target market

Attractive Sector

Opportunities to capitalise on positive market trends, in growing sectors
and sub-sectors

Scalability

Potential to target new markets, geographies and market segments with
an already proven offering

Well Capitalised

Profitable or clear path to profitability, with sufficient funding in place to
enable the business to reach this point

Exit Strategy

Clear, definable strategy, with visibility on achievable exit options within
a 3-5 year horizon

Target Returns

Target returns of 1.6-1.8x

Connor Grimes is Seneca's Investment
Manager with a key role in the management
of Seneca's AIM (London Stock Exchange's
"Alternative Investment Market") portfolio
of companies.
"A significant component of our EIS offering are the
18 companies which are currently quoted on the
LSE's AIM market. The AIM London Stock Market is
a leading facilitator of raising funds - in 2017 alone
the AIM market raised over £6.3 billion. AIM provides
a good level of visibility and daily pricing for our
investors as well as some liquidity.

Connor Grimes
Investment Manager
E connor.grimes@senecapartners.co.uk
T 01942 295 981

Performance of our AIM companies has been
generally very strong, notably for first round
investors in Optibiotix who exited with a return
of circa 10 times their initial investment and the
significant uplift in values in Gear4Music, PTSG,
Yu Energy Group, LoopUp, FairFX and Velocity
Composites in particular.* Others have provided
good trading updates to the market too which we
hope will lead to good value appreciation during
the investment term.
We have good relationships with many of the
UK's largest brokers and we continue to seek out
good quality and well-valued businesses for our
investors through IPOs."



Table of Contents for the Digital Edition of Onside Issue 6

Contents
Onside Issue 6 - Cover1
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Onside Issue 6 - Contents
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