Important Information

The investments referred to in this website are not suitable for all investors. Calculus Capital Limited is not able to give advice to prospective investors about the suitability of the investments. Prospective investors are recommended to seek specialist tax and financial advice before investing in any Calculus EIS Fund, including the UK Creative Content EIS Fund.
An investment into a Calculus EIS Fund may only be made on the basis of reading in full the information set out in the relevant Information Memorandum.
When investing in the Fund, your capital is at risk. The value of shares and income from them may go down as well as up and despite the tax relief you may not recover the amount originally invested. An investment in smaller and unquoted companies carries a higher risk than many other forms of investment. Shares in unquoted companies are not readily marketable. You should not invest in an EIS unless you can afford to lose some or all of your capital.
An EIS investment is only appropriate for investors with a medium to long term investment horizon; the timing and extent of realisation cannot be predicted and may extend beyond five years. It is not possible to allow a partial withdrawal of your investment. You may request a total withdrawal, but since many investments made by the Fund will be in unquoted companies, this may not be possible. Withdrawal within three years would lead to repayment of any tax reliefs received.
The tax benefits available depend upon your individual circumstances and these benefits may change dependent upon future legislation.
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The still images and clips of films and television programmes used on this website do not form part of the UK Creative Content EIS Fund, and their use should not be interpreted as examples of prior investments made by any of Calculus or Stargrove. The images are used to demonstrate well-known content produced historically by UK screen content companies.

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About Calculus Capital

Calculus Capital is a multi-award winning EIS Fund Manager with unparalleled experience of investing in and working with growth focused UK companies

Our History

Calculus is a pioneer in EIS, having created the first UK approved EIS fund in 1999. Our 20-year track record includes highly successful investments in UK growth companies across a broad range of sectors.

The companies in which we invest create jobs throughout the UK, foreign earnings, tax revenues for government and innovation to established industries. We realise that successful investment, whatever the sector, is about more than the initial investment and work closely with our investee companies, providing support and guidance to both mitigate unnecessary risk and capture the maximum upside for our investors.

Our Results

We are very proud of our track record of profitable exits and commitment to the ‘true spirit’ of EIS investing.

We have won many industry awards including ‘Best EIS Fund Manager’ at the Growth Investor Awards in 2018 and 2016 and the EIS Association’s ‘Fund Manager of the Year’ Award five times. The success of our investment approach is also evidenced by our loyal investor base.

EIS Legislation

Calculus has always been a growth investor and has always invested, not only within the rules, but in keeping with the spirit of EIS legislation. John Glencross, CEO of Calculus Capital, is a key contributer to the industry and regularly attends HM Treasury, HMRC and FCA meetings to discuss policy amendments and
implementation. John is a Member of the EU State Aid Committee and a Member of the EIS Association Board and the Technical and Regulatory Committee.

About Stargrove Pictures

The Stargrove team has overseen over £1 billion of investment in the sector.

The Stargrove team has over thirty years’ combined experience, and has managed and advised on investments exceeding £1 billion in the creative content sector, including £750 million of creative content EIS and VCT investments.

The team has an extensive global network of entertainment industry relationships and connections, and is one of the leaders in its field.

Stargrove’s expertise in managing IP development, building finance plans, advising on key points in commercial negotiations and sourcing finance and distribution will help provide invaluable support to investee companies.

As such, Stargrove is ideally positioned to identify and secure compelling investment opportunities for the Fund and, in partnership with Calculus, to manage the growth of those companies through to successful exit.


"The Fund will unleash investment in the UK’s creative industries and enable independent UK screen content companies to retain a greater financial interest in the intellectual property they create so they can capitalise on their projects and talent and grow their businesses further.”

Stephen Fuss, CEO, Stargrove Pictures

"The UK's Creative Industries are now worth more than £100 billion to the UK economy and through our modern Industrial Strategy, government and the sector
are working together to create further investment opportunities. This new fund will give our exciting creative content companies the chance to grow and develop even more content that will resonate with viewers both in
the UK and globally."

Margot James, Minister of State for the Department for Digital, Culture, Media and Sport

“The BFI is excited about the opportunities this Fund will present for a new wave of investors to get involved with our magical industry alongside Calculus and Stargrove, who have a wealth of experience and knowledge.”

Amanda Nevill, CEO, BFI

“This is a new breed of EIS fund in this sector. It will focus, not on project finance, but on building and growing companies involved in a broad variety
of popular productions, across a range of platforms."

John Glencross, CEO, Calculus Capital

Our awards

We are proud of our track record as a multi-award winning manager. Some examples include ‘Best EIS Fund Manager’ at the Growth Investor Awards in 2018 and 2016 and the EIS Association’s ‘Fund Manager of the Year’ Award on five occasions.

Calculus Investment Team

The Calculus team has unparalleled experience, the core team has worked together since 1997 and now brings together experience from some of the world’s leading financial institutions.

John Glencross

Chief Executive

Susan McDonald

Executive Chairman

Alexander Crawford

Co-Head of Investments

Alexandra Lindsay

Investment Director

Daniela Tsoneva

Investment Assistant Director

Matthew Connor

Investment Associate

Stargrove Advisory Team

The Stargrove team has 30+ years’ combined experience in the screen industries

Stephen Fuss

CEO, Stargrove Pictures

Nik Bower

Member of the Board, Stargrove Pictures

Nicholas Sandler

Consultant, Stargrove Pictures

Investor Relations Team

For further information please contact the Investor Relations team on
0207 493 4940 or

Madeleine Ingram

Head of Investor Relations and Marketing

Francesca Rayneau

Investor Relations and Marketing

Jessica Fox

Investor Relations and Marketing