A former board member at boutique investment bank Shore Capital is launching a fund that will receive tax incentives to invest in smaller higher-risk companies, one month after the Chancellor of the Exchequer announced changes in the UK Budget to encourage such schemes.

Jonathan Paisner is launching an Enterprise Investment Scheme, called the LMN Tech EIS Fund, in partnership with Shore Capital tomorrow, when the new tax year begins. The fund is hoping to raise about £10m.