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Future Planet Capital

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Invest in a profitable impact-VC firm that grew 10x in 2021 with $6.5M TTM revenue*

Closed 21 Jan 2022
£185,976 for sale
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Business overview

Location George Town, Cayman Islands
Social media
Website www.futureplanetcapital.com/
Sectors Finance & Payments Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 306743
Incorporation date 6 Apr 2017
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Investment summary

Type Secondary
Last valuation £40.5M
This sale offer 0.00% premium
Share price £81
Tax relief N/A
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Business highlights

  • 15x revenue growth with $6.5M TTM*
  • Successfully acquired 3 other VCs reaching $300M+ in assets
  • Investors in Vaccitech (NASDAQ), 23andMe (NASDAQ) and more
  • Over 100 portfolio companies invested in across 10 funds
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Key features

  • Secondary Market
  • Seedrs nominee min. £81.00 +
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 260
  • Discussion
  • Documents

Learn more about secondary campaigns.

Idea

Introduction

Future Planet is the impact-led, global venture capital firm built to invest in high-growth companies from the world's top universities and research centres. As a first-mover in the impact investing space, we have now invested over $300M into 100+ startups and spinouts seeking to profitably solve the world's greatest challenges in Climate Change, Education, Health, Sustainable Growth & Security.

Founded by Douglas Hansen-Luke in 2015, with a track record investing across emerging asset classes for 30 years, FPC is one of the only venture groups in the world to benchmark impactful growth-stage companies emerging from the founders and science of the world’s top ten centres of innovation.

This origination network creates a rich pipeline of mission-aligned entrepreneurs with game-changing innovations. To date our impact investment thesis has seen us back Vaccitech, the company that’s now listed on NASDAQ having supplied 1bn COVID-19 doses worldwide; Guideline, among Americas fastest-growing pension providers; 23andMe, who recently completed a $3.5BN IPO; Tokamak, a world leader in the race to Fusion Energy and Aria, revolutionising AI drug discovery.

We were also the first institutional venture capital firm to open our business to the crowd. Now we return to Seedrs having grown 10x+ in the last year, and have reserved 10% of this round for the crowd, as part of our commitment to democratise venture.

Substantial accomplishments to date

Since our last Seedrs raise we have acquired 3 funds, grown well over 10x, creating a high-growth, high-margin business with the stability of a profitable company:

⦿ $6.5M TTM revenue, with $6M in long term contracted ARR*
⦿ 15x YoY growth (Q3 2020-2021), 3x 2021 Revenue Targets*
⦿ Already a profitable business*
3x Acquisitions completed bringing the team to 20 seasoned investment professionals and AUM to $300M, including:

⦿ UKI2S the UKRI backed deep tech Seed fund,
⦿ Midven the Midland’s oldest venture manager,
⦿ RT Capital, the Oxford & Cambridge VC fund, and
⦿ MAI, manager of the British Innovation Fund.

Our four core funds are now tracking top quartile, with notable IPOs and Acquisitions including:

⦿ 23andMe: $3.5Bn NASDAQ listing via Virgin SPAC
⦿ Vaccitech: £500M NASDAQ listing
⦿ Inivata: $390M acquisition by NeoGenomics
⦿ Quethera: ~100x exit with milestones to Astellas
⦿ Cobalt: 10x exit to Agilent

We have now established deeper partnerships with core strategic partners and investors, creating a formidable network:

⦿ Co-investment: Barclays for UHNWIs and institutional investors + plans for Seedrs to leverage the crowd.
⦿ Investors: additions include Sovereigns, a number of large Family Offices, the British Business Bank, European Investment Fund, Pensions and Corporates.
⦿ University: In addition to Oxford Science Enterprises, Harvard’s Xfund, MIT Media-Lab’s E14 Fund, Berkeley Skydeck, we now have the mandate to raise a fund with a top 3 US university.

Monetisation strategy

Three revenue streams combine to provide a strong diversified business:

1. Venture Funds: We manage over $300m in AUM across over 10 different venture funds, where we take on average a 2% fixed management fee, contracted for between 5-10+ years. Through acquisition and organic growth, our 5-year target is to grow this to $1-2Bn of Venture Assets. We also charge a 20% performance fee on these funds, of which 40% is retained by the company and the rest to our management team to ensure long-term alignment and commitment. Further, we are often investing a GP commitment, on which we expect a return.

2. Co-investment Platform: Large investors want access to our dealflow and the ability to invest alongside us. Our platform provides a steady flow of unique co-investment opportunities and pre-emption allocations, for which we charge management & performance fees. Our co-investors to date have included large royal family offices, corporates and institutions.

3. Introducer and Sub Advisory Business: We have signed partnerships to introduce deals to some of the largest private banks and corporations; we take introductory and management fees for specific mandates and deals that we have originated.

Secondary Sale

Future Planet Capital raised £3,171,231 of new investment in our recent Series A round, closing December 2021. The Seedrs campaign was oversubscribed, so to provide an opportunity for investors to be able join Future Planet Capital, we have created a share trade window through a secondary campaign.

A maximum of £185,976 of shares will be made available from two existing shareholders. The share price of £81 for the secondary offer is the same as the Series A round from December 2021.

The company has authority to raise a further £2-4M in the primary investment round at the same valuation, reserved for strategic investors, which may complete early 2022.

Shares purchased through a secondary campaign are not EIS eligible and Future Planet Capital has no current plans to apply for EIS accreditation in the future.

Key Information

Acquisition costs

In 2021 Future Planet Capital acquired three other Venture Capital firms to bring the AUM to over $300m. As part of these recent acquisitions, the company has remaining obligations to the management teams as part of the buyouts of their funds/management companies.

The company has the cash and, as a default, can fund the remainder of the acquisition considerations out of cash flows generated by future profits from long-term contracted revenues acquired with the buyouts. Through raising capital from their recent round at the end of 2021, the company chose to accelerate payment of the deferred consideration for these acquisitions with the proceeds of that round. This will unencumber future contracted cash flows generated by these acquisitions that can instead be used for further acquisitions and organic growth, ultimately increasing earnings to reinvest into the business.

Outstanding obligations as part of Acquisitions:

Midven acquisition: The purchase price for the acquisition included deferred consideration of £840,000, of which £134,915 is due to be issued in equity as part of the December 2021 round and was factored into the pre-money valuation. £210,000 was paid from the proceeds of the December 2021 round. The remaining £495,085 will be repaid in June 2022.

Outstanding acquisition loan:

The company has recently signed a term sheet in respect of a loan secured against future revenues from one of their largest LPs totalling £1.7m. The loan is to fund a separate aspect of the above acquisition costs, and will be repaid over 6 years, commencing with a repayment of 20% of the loan amount on 1st April 2025, and then annually thereafter at 30%, 40% and 10% of the loan amount. This acquisition was driven by the LP as they believe in the value the company will bring as a manager to their existing and future assets. During the period of the loan the company will receive additional income in the form of restructuring fees of £283,332 per annum.

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If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Share on:

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £40,479,507

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a secondary campaign allows you to purchase shares in a company that is not currently fundraising. Unlike other Seedrs campaigns, you will be buying shares from existing shareholders rather than investing into the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Seedrs Nominee). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Warning

You are following a link outside of www.seedrs.com.

None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

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