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Velocity EIS Technology Fund 5 awarded MJ Hudson Trustmark

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The Velocity EIS Technology Fund 5 has successfully completed MJ Hudson Allenbridge’s independent investment evaluation process and has been awarded the MJ Hudson Trustmark.

To qualify for the Trustmark, the fund went through a process of qualitative and quantitative data analysis and was benchmarked against other products in its peer group. It also underwent a full investment committee process where scores for each factor rating were awarded.

Three factors were identified as the fund’s strongest characteristics, including its quality governance and management team, investment process, and pipeline and portfolio. The fund was also praised highly for its data integrity and transparency.

To date the Velocity Funds have raised approximately £5m for their portfolio of high-growth innovative tech-enabled businesses.

Velocity Managing Director Rajeev Saxena (pictured above) said: “We are delighted to have achieved this prestigious investment standard, which is testament to our team’s expertise and commitment to nurturing brilliant, innovative and exciting high-growth tech startups to help drive the UK economy forward and generate jobs.

“To date, the Velocity portfolio has created over 100 jobs. In terms of performance, our first fund is cash positive, and the overall current performance of the first four funds is estimated to be 2.3x, 1.5x, 1.4x and par respectively.”

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