Cambridge law firm Mills & Reeve helps create Tech for Good SEIS and EIS Fund

The latest boost for the tech for good movement has come in the shape of a new fund that invests in early-stage companies aiming to make a positive social and environmental impact.

The Tech for Good SEIS and EIS Fund was created for Bethnal Green Ventures (BGV) with the help of Cambridge law firm Mills & Reeve.

BGV is an early stage investor in tech for good, and runs an accelerator programme for teams using technology to solve pressing problems.

The Tech for Good SEIS and EIS Fund will invest in such promising businesses, particularly those identified within the BGV accelerator programme.

It will help investors take advantage of highly attractive Seed Enterprise Investment Scheme (SEIS) and Enterprise Investment Scheme (EIS) tax reliefs, while supporting companies looking to have a positive impact.

Dona Ardeman, principal associate at Mills & Reeve, said: “In a climate where many investors are increasingly looking to have a positive impact as well as make a commercial return, it is refreshing to see funds like this designed with a view to doing both well.

“It was a pleasure to take part in the creation of an innovative fund using money where it matters.”

Melanie Hayes, of BGV, said: “Over the years, we’ve invested in more than 100 businesses that have a social mission at their core and use technology to scale their delivery to help people and planet.

“At the same time, we’ve seen a marked increase in the number of investors that strongly believe that it’s possible to achieve positive impact and financial returns. With this fund we’re pleased to make the process easier and enable more investors to do good and do well.”

BGV will act as fund advisor in collaboration with fund manager Midmar Capital LLP and fund custodian Mainspring Nominees Limited.