EISLeisure & Hospitality

What do these London bar and restaurants have in common?

By 9th January 2018 No Comments

Imbiba Leisure EIS Fund

  • Temper, a meat-lover’s dream in Soho (and now the City!)
  • The Kitty Hawk, when you need a break from your busy Liverpool Street life
  • Martello Hall, a late-night Hackney haunt serving up pizza and gin

An eclectic bunch, I agree. But what do they have in common?

Well, firstly, they’re London favourites. Just last year, Temper was named No.3 in TimeOut’s ‘100 Best Restaurants in London’, The Kitty Hawk was awarded ‘Best London Bar’ at the Restaurant and Bar Design Awards, where Martello Hall was shortlisted for ‘Best Pub Design’.

But more importantly – they’ve all been funded via the Imbiba Leisure EIS Fund, which invests in the London leisure and hospitality sector via the Enterprise Investment Scheme (EIS).

What is the Enterprise Investment Scheme?

Launched in 1994, the Enterprise Investment Scheme (EIS) is a government scheme designed to help certain types of small, higher-risk, unquoted companies to raise capital. It does so by providing a range of tax reliefs for investors who subscribe for qualifying new shares in these companies.

Some of the main tax reliefs provided by the EIS include:

  • 30% initial Income Tax Relief
  • Freedom from Capital Gains Tax (CGT)
  • Deferral of CGT on disposals made in the last 3 years or in the next 12 months
  • Loss Relief, meaning maximum exposure of 38.5p in the £1 for a 45% income tax payer
  • Inheritance Tax Relief, a potential saving of 40p in the £1

Who are Imbiba?

Imbiba, a specialist bar and restaurant investor, has been in investing in London’s leisure and hospitality industry for over 20 years, and is recognised for its successful ‘buy, build, and exit’ strategy. Imbiba’s most recent exit, the sale of Drake & Morgan in 2013, provided EIS investors with a 5.7x cash invested, resulting in Imbiba being awarded ‘Best EIS Investment Exit’ at the EIS Association Annual Awards in 2014.

Since 1998, Imbiba has achieved an average compound IRR in excess of 35% per annum (excluding EIS relief), with realised investments generating £38 million of cash from a cumulative investment of £14 million.

To apply the proven strategy to the Imbiba Leisure EIS Fund, Imbiba partnered with Enterprise Investment Partners, a specialist small-cap investment boutique, who have over 20 years of leisure sector experience, and have raised in excess of £100 million for various leisure and hospitality operators in recent years.

Working with Imbiba since 2012, Enterprise Investment Partners have raised over £35 million for the Imbiba Leisure EIS Fund, providing investment into some of London’s favourite bar/restaurants:

  • Banking Hall, City
  • Canova Hall, Brixton
  • Grace Hall, City
  • Martello Hall, Hackney
  • No.1 Duke Street, Richmond
  • No.11 Pimlico Road, Pimlico
  • No.197 Chiswick Fire Station, Chiswick
  • No.29 Power Station West, Battersea
  • No.32 The Old Town, Clapham
  • Six Storeys, Soho
  • Tanner & Co, Bermondsey
  • Temper, Soho and City
  • The Kitty Hawk, Moorgate
  • Victorian Bath House, Liverpool Street

This year, the Imbiba Leisure EIS Fund hopes to raise £10 million in order to invest in more of London’s favourite leisure and hospitality businesses.

Aside from the attractive tax benefits of the EIS, investing alongside Imbiba allows you to benefit from:

  • Their exceptional industry experience, and their reputation as an outstanding innovator of new bar/restaurant concepts in Central London;
  • An industry-leading track record, having achieved an IRR in excess of 35% from 10 exits over the past 19 years;
  • An industry-leading hurdle rate of 1.5x the original investment, aligning the interests of Managers and Investors.

To find out more about the Fund, or to invest, visit: http://www.enterprise-ip.com/imbiba or give Martin Sherwood (Partner, Enterprise Investment Partners) a call on 020 7843 0470, or email msherwood@enterprsie-ip.com.


This financial promotion has been approved by Enterprise Investment Partners LLP is authorised and regulated by the Financial Conduct Authority (FCA) (FRN 604439). Enterprise Investment Partners LLP is registered in England and Wales. Registered No: OC357090. Registered Address: Hyde Park House, 5 Manfred Road, London SW15 2RS

This communication contains information that may be private, confidential and privileged. It is therefore for the exclusive use of the addressee. If you are not the addressee please do not copy, distribute or transmit this communication or any part of the information contained within. It is prohibited and illegal.

Your capital is at risk and you may not get back the amount invested. You should not invest unless you can afford total loss or if you are likely to require the capital in the near term, since such investments can be difficult to realise. Past performance and any forecast is not a reliable indicator of future performance. Investment in unquoted companies carries high risk. No established market exists for the trading of shares in private companies, making it difficult to sell shares. Tax treatment depends on the individual circumstances of each investor and the tax status of investments may be subject to change. The availability of tax reliefs depends on the investee Company maintaining its qualifying status. It is not an offer to invest. Investment can only be made on the basis of the full Information Memorandum and the risk factors contained therein. We recommend you seek advice from an independent financial adviser authorised under the Financial Services & Markets Act 2000 who specialises in investments of this type.

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