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What’s driving change for Private Equity reporting?

In today’s marketplace Private Equity reporting is subject to change as never before. Investors demand granular data at their fingertips. New GDPR requirements demand enhanced controls and transparency. To respond and succeed, fund managers need to achieve ever greater fund operation and investor reporting efficiency within a clearly defined technology strategy. GDPR The intention of GDPR, which came into place in May 2018, is to protect the rights of natural persons (EU citizens) in respect of their data. Whilst many funds may

Observations from a blockchain PoC research project in Private Equity Fund Administration

Earlier this year Mainspring undertook a 3-month proof-of-concept (PoC) to get hands-on with our research of blockchain technologies. As a Fund Administrator, Mainspring holds the books of record for a client’s fund, independent of the fund’s investment manager, undertaking the accounting and reporting of the fund’s performance.  In addition, Mainspring provides administration services for operating the fund which are largely event driven and typically follow a defined workflow process, such as: making a new investee company investment; effecting a drawdown of

Mainspring launches digital EIS Certificate solution

In 2016/17, 3,470 companies raised a total of £1.8 billion of funds under the EIS scheme and to date, a total of £18 billion of EIS funds have been raised since the start of the scheme*. This is an attractive investment pool for fund managers to target as they look to raise capital to support growth-stage businesses, however, it doesn’t come without its challenges. For fund managers operating in the EIS market, claiming EIS tax relief and dealing with investor queries

Private Equity LP Fund with HNW Co-Invest UK feeder

If you are considering creating a UK feeder fund for individuals to co-invest alongside the main fund, this may be a cost effective, simple solution. Mainspring has an award-winning nominee and custody platform which can be branded and structured as a discretionary or fully managed mandate.  Whether the main fund is domiciled in the UK, Jersey, Guernsey, Luxembourg or Cayman this dedicated feeder can be a co-investor for investors from any country into any primary asset. Use this dedicated FCA regulated UK

Dawn III – Mainspring appointed as Fund Administrator to Dawn Capital’s latest $235m European fund

Dawn Capital announced in April 2018 the closing of Dawn III, a fund focused on SaaS and FinTech companies in Europe and which closed at $235m (£165m). Investors include UK, European and US institutional investors and notably the European Investment Fund (EIF). Mainspring provides funds administration, accounting and investor reporting services for Dawn I and II and is delighted to announce the continued relationship with Dawn, with Mainspring providing full funds administration for the London partnership as well as consolidated investor

Setting up a new PE or Venture fund – Part 5: Raising Capital

Now that you have prepared your plan and your materials, and have your permissions, structures and advisers in place, there is nothing to stop you reaching out to investors and hoovering up commitments to Excellent Fund I. You (or someone else in your team) may be an experienced capital raiser, however this is one area where many first time managers look for outside help. The challenge, of course, is that most first time funds are seen as a risky proposition by

Hambro Perks to allow individuals to co-invest in its VC deals

Venture capital firm Hambro Perks, run by City grandee Rupert Hambro and former investment banker Dominic Perks, has opened its doors to retail investors for the first time. An innovative and interesting market development comes from Hambro Perks, which is now launching an EIS fund, administered by Mainspring, which will allow retail investors to make tax-efficient investments alongside the Hambro Perks business. With the new EIS fund, the firm aims to avoid the pitfalls which others have fallen into. While some funds

Setting up a new PE or Venture fund – Part 4: permission & formalities

Parts 1-3 of this series of articles have looked at the areas where you should have conviction in order to invest the time and other resources required to launch a fund, as well as covering the fundamental cash flow and pertinent business considerations for any want-to-be fund manager. An important feature of investment management that we have not yet touched on, however, is regulation. Private equity and venture capital managers must be regulated in any market in which they plan to

EIS Association: 2017 Best EIS Custodian and Fund Administrator

Mainspring picked up the gong at the industry EIS Association awards for ‘2017 Best EIS/SEIS Custodian/Administrator’ – the inaugural year for this award. The award included categories, amongst others, for investor reporting, range of services offered, new initiatives and though leadership on the industry. On announcing the award the judge’s comments included “Mainspring have demonstrated their commitment to investing in IT infrastructure. Their willingness to be flexible to different fund types and welcoming new entrants are admirable qualities.” Stephen Geddes CEO picked up

Setting up a new PE or Venture fund – Part 3, your fund as a business

Up until now, this series of articles has focused on some questions that need confident answers before it is prudent to sink the time, cash and other resources required into launching a new fund. This time we will concern ourselves with just one issue: How do I run the business side of being a fund manager? Like any business, your fund management company needs a financial plan.  You must have a clear plan as to how you will cover the costs and