CoInvestor has added funds to its platform, building on its existing service which allows direct and advised investors to co-invest alongside tax-efficient fund managers on the same terms.
CoInvestor says the evolution of the platform to enable investment into funds, in addition to direct co-investment opportunities, is driven by the desire to provide investors and advisers with a “one stop shop” for tax-efficient investing.
In response to increased demand from financial advisers for simplification of the fund application process, CoInvestor has eradicated most of the traditionally paper-based application process and investors and advisers can apply to invest in a fund entirely online.
CoInvestor has appointed four managers to the platform with Mercia Fund Management, Deepbridge Capital, Par Equity and Symvan Capital joining existing fund managers Oxford Capital, MMC Ventures and Oxford Technology.
Initial funds available on the platform are focused on Enterprise Investment Scheme (EIS), with a pipeline of VCT managers set to join the platform over the coming weeks.
The news comes amidst strong growth for the platform, with CoInvestor’s user base almost doubling during Q4 2016, as increasing numbers of direct investors and advisers look online to diversify their portfolios.
Charles Owen, founder of CoInvestor, says: “Following continued support from the industry for what we are doing at CoInvestor, we’re thrilled to be expanding our service, providing more choice for investors and better access for advisers. We have removed the burden of paperwork associated with investing in a fund, by entirely digitising the application process. This streamlined approach has the potential to save investors, and particularly advisers, several hours of work.”
Richard Roberts, director at Oxford Capital, adds: “We continue to work closely with CoInvestor and are excited to see how their evolution is helping us to grow our own business, and service our adviser community and investors in a more convenient way for them.”
Anna Slemmings, MMC Ventures, says: “We continue to see a trend towards investors looking to use online tools to make direct and fund investments and it’s great to see the CoInvestor platform extending its offering to meet this need. The addition of online fund applications to the platform will offer investors the convenience of applying for our EIS funds online without disrupting our current operational processes.”
CoInvestor is an online marketplace for alternative assets that allows private investors to invest alongside experienced fund managers or into their funds. The platform aims to widen and simplify access to a wide range of alternative asset investments.