GamCrowd partnered with Innvotec Limited, an FCA-authorized fund management firm to launch the first Seed Enterprise Investment Scheme (SEIS) dedicated for the gambling industry.

The GamCrowd 2015 SEIS Fund opens for investors today—a day before the start of Cheltenham Festival, where hundreds of millions of pounds is wagered.

GamCrowd has already begun assessing companies, judging to meet the relevant regulatory and licensing requirements. Once the qualified companies are selected, GamCrowd will advise Innvotec on GamCrowd 2015 SEIS investments, evaluating the potential of all start-ups against strict growth criteria and assisting through the pre-funding process, prior to helping the companies to deliver the objectives agreed at the time of investment.

“SEIS is one of the most advantageous tax schemes available to investors anywhere in Western Europe,” said GamCrowd CEO Chris North. “Because of the UK government’s generosity and enthusiasm to funnel tax payers’ money towards UK start-ups, many specialist funds have been started. But, until now, none has existed in gambling, despite it being a huge industry.