What We Do
We offer growth investment opportunities with substantial tax advantages from the most experienced, award-winning, Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) Fund Manager.
Tax free capital growth via generalist EIS Fund
Tax Free Income via Calculus VCT
Tax free capital growth via creative EIS Fund
Why Calculus Capital?
Calculus are pioneers of the tax efficient investment industry, having launched the UK’s first approved EIS Fund in 1999. Our focus has remained consistent: building portfolios of smaller, UK growth businesses and creating value for our investors through our multi-award winning funds.
Our diligent process, record of profitable exits and focus on capital appreciation distinguishes us from other EIS and VCT fund managers. The Calculus investment strategy has remained consistent for the past 10+ years, together with our structured investment process, strong risk management and very close monitoring of portfolio companies. We have been able to produce significant results for our clients via tax free dividends for our VCT investors, or tax free capital gains for our EIS investors.
What People Say
Calculus has a strong market profile in the tax-advantaged sector, with a long track record as the first ever Approved EIS to be launched; it has also received multiple industry awards.
MJ Hudson Allenbridge, EIS Review, January 2019
One of the longest-standing managers in the VCT/EIS area, Calculus has a highly experienced and stable team.
Hardman and Co, Calculus EIS Fund Review, September 2020
The Manager is further consolidating its position as a leading generalist EIS manager by using its strong fund raising to augment its ability to attract good opportunities.
Allenbridge, Tax Shelter Report, Issue 243
Awards
Our history
Calculus Capital was founded in 1999 by John Glencross and Susan McDonald, following careers at senior levels in leading investment banks. They saw an opportunity to create an EIS Fund which would deliver the benefits of EIS investing, whilst providing stronger risk mitigation than investing in single EIS Qualifying Companies. With the co-operation of the The Inland Revenue (now HMRC) and working within existing legislation, Calculus created the UK’s first approved EIS Fund in 1999/2000 tailored to the needs of private investors. Since then, Calculus have gone on to launch 21 Calculus EIS Funds, 5 VCT share issues and created the Calculus Creative Content EIS Fund in association with the BFI in 2019.
Both the Calculus EIS Fund and Calculus VCT provide investors with the opportunity to benefit from many years of invaluable experience. The core team has been together over 10 years and our track record of excellent results has enabled us to attract top talent to this team from distinguished firms such as Deutsche Bank, Flemings, Citigroup, JP Morgan and Apollo.
We have built and retained a strong reputation as an expert investor in EIS and VCT Qualifying Companies through our multi award winning funds. The professionalism of our investment process, track record of profitable exits and focus on capital appreciation combined with strong risk management, distinguishes us from other managers.
Calculus Capital is viewed as the industry standard within the tax efficient investing world, our team is often engaged in discussions with industry and governmental representatives. Our EIS and VCT Funds embody the spirit of professional SME investing and have gained much respect and support from investors, advisers, governments and our peers.
Corporate Governance
Calculus Capital Limited which is authorised and regulated by the Financial Conduct Authority (FCA registration number 190854) is committed to maintaining high standards of corporate governance.
Calculus Capital has a board with a diverse range of experience and backgrounds:
John Glencross – Chief Executive Officer & Co-founder
Susan McDonald – Chairman & Co-founder
Ken Edwards – Non-Executive Director
The Directors meet quarterly and on an ad hoc basis as required.
The Board has established an Audit Risk and Compliance Committee which plays an important role in the appraisal and supervision of key aspects of the Company’s business including financial reporting and internal controls.
The Directors have also established an Investment Committee whose responsibilities include determining and agreeing with the board the Company’s framework or broad policy for fund investment and considering all investment and divestment proposals.
The Company takes into account the requirements of the Stewardship Code and also has in place internal policies and guidelines on a variety of matters including financial reporting, anti-money laundering, anti-bribery and corruption, conflicts of interest, and promoting sustainable practices within the firm.
Calculus Capital Limited is a member of the EISA and the BVCA.
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