EIIS fund vs direct investment: what’s the difference?
In an EIIS fund such as the BVP 2026 EII Fund, your investment is spread across 6–8 Irish companies chosen by the fund manager. In a direct EIIS investment, you back a single company yourself. BVP offers both: the fund, and direct investments through its Investor Club (Connect X).
Side by side
| Fund | Direct | |
|---|---|---|
| Number of companies | 6–8 | One |
| Who selects the companies | The fund manager | You |
| Tax relief | Up to 50%; blended target of 35% at fund level | Depends on how that company is categorised |
| Minimum holding period | 4 years | 4 years |
| Early exit | None for investors | Subject to the terms of the investment |
Terms for direct investments are set out on bvp.ie/eiis. Both routes carry the risk of losing some or all of your capital.
Questions to ask
- How many companies will my money be spread across?
- Who decides which companies are chosen?
- What are the total costs, including any commission, realisation costs and performance fee?
- How is my money held before it is invested?
- What happens to my tax relief if a company exits early?
Frequently asked questions
What is the main difference between an EIIS fund and a direct EIIS investment?
A fund spreads your investment across several companies chosen by the manager. A direct investment puts your money into one company that you choose.
Does the BVP 2026 EII Fund spread risk?
Your investment is spread across 6–8 growing Irish companies, which spreads the risk compared with a single company, but capital is still at risk.
Can I invest directly in a company with BVP?
BVP offers direct EIIS investments through its Investor Club (Connect X). See bvp.ie/eiis for details.
Is tax relief higher for a fund or a direct investment?
It depends on how each investee company is categorised. The fund targets a blended relief of 35%, within a range of 20–50%.
Related guides
Register your interestCalculate your relief
Capital at risk. Tax relief depends on individual circumstances and Revenue rules. Minimum 4-year holding period. EII investments are in unquoted, early-stage and growing companies and are illiquid. Past performance is no guarantee of future returns. This page is general information, not tax or investment advice.