Force Over Mass Capital has appointed Lee McSorley as Chief Technology Officer (CTO) with responsiblity for the development of the firm’s Performance Measurement and Valuation System – under the project name ‘DNA’.
With extensive experience in the development of systemic trading systems in the hedge fund community, McSorley specialises in genetic programming – an artificial intelligence field using an evolutionary algorithm-based methodology inspired by biological evolution.
McSorley was previously a Quantitative Developer at OTAS Technologies, from November 2011 until February 2013. Prior to this, McSorley worked as a Quantitative Developer at Integral Capital Management (March 2009 – August 2010), as a Lead Software Architect at Caliburn Capital Partners LLP (August 2006 – March 2009) and as a Developer/Analyst at Howells Associates (August 2003 – July 2006). He gained a BA in Computer Science from the University of York.
Force Over Mass Capital recently launched a Seed Enterprise Investment Scheme (SEIS) – Enterprise Investment Scheme (EIS) fund which will invest in fast growth technology companies. The Force Over Mass Capital SEIS/EIS Fund (FOMCAP) will provide high net-worth investors with the opportunity to invest in disruptive technologies, with high growth potential, through a risk-mitigated portfolio with potential tax reliefs of up to 65% of the notional capital invested.
FOMCAP is closing the funding gap between crowd funding and traditional venture capitalists in the start-up technology sector allowing investors to benefit from its significant explosive growth potential. The Fund aims to raise GBP15 million in subscriptions and is doing a first close on 31 of March 2015. It has a minimum investment of GBP25,000, and will aim to build a balanced portfolio of up to forty high growth technology companies in areas such as FinTech, e-Commerce, Artificial Intelligence (AI) and Life Science.
Force Over Mass Capital’s CEO Martijn de Wever says: “We are delighted to welcome Lee to the firm. He brings with him a wealth of experience and expertise, and has a solid track record in delivering strategic advice, having developed a range of impactful technological solutions to Hedge Funds. His market knowledge and insight make him a hugely valuable addition to the team, and he will bring a unique perspective to our Fund strategy where we measure the probability of success of starting ventures down to the most granular detail.
McSorley adds: “I am delighted to be joining Force Over Mass Capital at such an important moment. The current investment environment and regulatory backdrop provide both challenges and opportunities for the delivery of the high quality investment opportunities high-net worth clients need and expect. My experience in Artificial Intelligence is a perfect fit for finding a consistent methodology for deal selection and on-going measurement of the different start-ups with the ultimate aim being a successful exit.”
The Fund’s investment strategy aims to deliver both capital preservation as well as growth which, has historically been a challenge for most SEIS/EIS funds. The firm’s team of investment experts will measure risk using a unique set of algorithms that look at the businesses’ founders, the market potential and propositions amongst other KPI’s. Risk will be further mitigated by creating a diversified portfolio of the current technological innovations of both hardware and software. The team’s investment approach will be based on giving investors access to a diverse portfolio and the option to invest at later rounds during a companies growth stage. This way of investing provides investors with exposure to a wide variety of technology ventures and in addition will give investors an option to invest in future rounds as and when possible. Investors get to know the companies, see the companies grow and have an ability to express their interest to increase their stake. In addition to the funding, the investee companies will be given tailored support through accelerator and incubator programmes and will have access to Force Over Mass Capital’s global network of high profile mentors.
Aimed at high net-worth investors, the fund is targeting a return of 5-10x with a five to seven year investment horizon. The combination of a risk mitigated approach with the “super-growth” technology sector presents a rare opportunity in the SEIS/EIS space. By using SEIS/EIS tax reliefs and diversification Force Over Mass Capital has de-risked a traditionally risky investment in a smart way.