ONSIDE / INTERVIEW
It’s a pretty strict set of criteria before Seneca
will invest, is it not?
It is strict, but we are investing capital entrusted to us by
investors and their advisers and so it needs to be strict! I
think that is one of the benefits in using someone like
us who have around 70 people permanently working
with Britain’s SMEs in some capacity because that’s our
specialism. We have a very senior investment team with long
track records of successfully delivering value by selecting
good opportunities. We meet hundreds of management
teams each year and yet we invest in only a relatively
small number. Getting the entry point valuations is pretty
major, given that we are looking typically at only a 3-4
year investment horizon with EIS and right siding an over
inflated valuation in that time frame is nigh on impossible.
The experience and pedigree of our Investment team is one
of our clear strengths in that regard. Equally, the underlying
due diligence processes are designed to be thorough and
flush out any aspects which we may not like.
Would it be fair to say that bei