The fund will invest in six to eight mature qualifying companies over the next 12 months. It has a minimum subscription barrier of £30,000 and will consider all sectors except retail and software.
Calculus has launched a fund every year for the last 10 years except for 2007 when it deemed the market to be overvalued.
Chairman Susan McDonald says the market has changed dramatically and EIS investment now offers a valuable pension augmentation and alternative for high rate tax payers.
She says: “Confidence is starting to return to the market so people aren’t paralysed as they were a year ago. Company valuations are still low so you can get in at a good price. Taxes are going up so people are looking for ways to mitigate their taxes that are safe and for the first time ever we’re getting a lot of queries about EIS’ as an alternative to pension saving.”