Legal & Regulatory Notice

This Legal & Regulatory Notice is issued by Ascension Ventures Limited ("Ascension Ventures", "Ascension", "we", "us" or "our") and applies to the entire contents of the website at www.ascension.vc (the "Website").

Company information

Legal disclaimer

Ascension Ventures provides the Website for general information purposes only, and the information and materials contained on it should not be relied upon as a substitute for financial or other professional advice. Nothing on this Website constitutes:

1. an offer, advice, invitation or solicitation by Ascension Ventures or its affiliates to buy or sell any investments, securities, futures, options or other financial instruments;
2. an invitation or inducement to engage in investment activity, or a financial promotion of any kind; or
3. investment advice or a recommendation.

Ascension Ventures makes no representations or warranties of any kind with respect to the Website or the information and materials contained on it, and disclaims all such representations and warranties, including, without limitation, representations or warranties as to the accuracy, completeness or suitability for any purpose of the information and materials published on the Website.

Ascension Ventures may make changes to the material on the Website at any time without notice, and is under no obligation to update the Website or to notify users of any changes to it.

Neither Ascension Ventures nor any of its subsidiaries, directors, employees or other representatives will be liable for any loss or damage arising out of, or in connection with, the use of this Website. This limitation of liability applies to all damages of any kind, including, without limitation, compensatory, direct, indirect or consequential damages, loss of data, loss of income or profit, loss of or damage to property, and claims of third parties.

Regulatory notice

Please read the information set out below.

Potential investors in any fund or discretionary investment management service managed or advised by Ascension Ventures (an "Ascension Fund") should consult their financial adviser before investing. Potential investors should also fully consider the available information, including, but not limited to, the Information Memorandum in respect of the relevant Ascension Fund, together with the risk warnings set out below. More detailed risk warnings are contained in the Information Memorandum relating to each Ascension Fund.

The Ascension Funds are reserved for experienced investors and institutions and may not be suitable for all investors.

This Website is exempt from the financial promotion restriction in Section 21 of the Financial Services and Markets Act 2000 ("FSMA") on the basis that it is addressed only to persons falling within one or more of the following exemptions under the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "FPO"):

1. investment professionals, as defined in Article 19 of the FPO;
2. a director, officer or employee of a person falling within (1) above, where that individual is responsible for that person's investment activities and is approached in that capacity;
3. a certified high net worth individual, as defined in Article 48 of the FPO, being a person who Ascension reasonably believes has, within the period of twelve months ending with the day on which the communication is made, signed a statement to the effect that, during the last financial year, he or she had: (a) an annual income to the value of £100,000 or more; or (b) net assets to the value of £250,000 or more (excluding their principal residence and any loan secured on it, rights under qualifying contracts of insurance, and certain pension benefits, as specified in the FPO); and
4. a self-certified sophisticated investor, as defined in Article 50A of the FPO, being a person who Ascension reasonably believes has, within the past twelve months, signed a statement to the effect that at least one of the following applies: (a) they have been a member of a network or syndicate of business angels for at least six months prior to signing; (b) they have made more than one investment in an unlisted company in the two years prior to signing; (c) they are working, or have worked in the two years prior to signing, in a professional capacity in the private equity sector or in the provision of finance for small and medium-sized enterprises; or (d) they are currently, or have been in the two years prior to signing, a director of a company with an annual turnover of at least £1 million.

Any viewer of this Website, or recipient of an Information Memorandum relating to an Ascension Fund, to whom Article 48 or Article 50A of the FPO applies and who is in any doubt about the investment to which it relates, should consult a person authorised by the FCA who specialises in advising on unquoted shares.

An investment in an Ascension Fund may not be suitable for all recipients of an Information Memorandum. All prospective investors should consider carefully whether an investment in an Ascension Fund is suitable for them in the light of their personal circumstances and the financial resources available to them.

The distribution of an Information Memorandum relating to any Ascension Fund to any person in the United Kingdom who does not fall within one of the categories above is not permitted by Ascension and may contravene FSMA. No person falling outside those categories should treat this Website, or any Information Memorandum relating to any Ascension Fund, as constituting a financial promotion to them, or act on it for any purpose. If you fall outside the categories above, you should not view this Website and should close your browser window immediately.

This Website, and any Information Memorandum relating to any Ascension Fund, is intended only for release in the United Kingdom and does not constitute an offer, or the solicitation of an offer, in any jurisdiction in which such offer or solicitation is unlawful. It is the responsibility of any person outside the United Kingdom who wishes to apply to invest in any Ascension Fund to satisfy themselves as to full observance of the laws of any relevant territory in connection with such an application.

Other regulatory disclaimers

Prospective investors should not regard the contents of this Website, or any Information Memorandum relating to any Ascension Fund, as constituting advice relating to legal, taxation or investment matters, and are advised to consult their own professional advisers before contemplating any investment or transaction.

Money subscribed by investors to the Ascension Funds will be committed to investments which may be of a long-term and illiquid nature. The companies in which the Ascension Funds invest will not be quoted on any regulated market and, accordingly, there will not be an established or ready market for any such shares, and the investor may experience difficulty in realising them (for value, or at all).

Risk warning

Your capital is at risk. Investing in early-stage companies involves risks including loss of capital, illiquidity, lack of dividends and dilution. Past performance is not a reliable indicator of future performance. Ascension Ventures does not give tax or investment advice. The availability of tax reliefs depends on individual investors' circumstances and on investee companies' qualifying status, both of which may be subject to change. If you are in any doubt about your eligibility for tax reliefs or the tax treatment of your investment, you should seek independent tax advice.