Two Exits. Five Weeks.
How a bold SEIS bet on Native Teams turned £150k into £1.1M
Just 37 days ago, we shared news of our exit from Re-flow - an award-winning field management platform that delivered a 6.55x return to Haatch EIS Fund 4 investors, and 4.1x for Fund 8. That announcement sparked a wave of re-investment and enabled us to close our largest EIS fund to date.
Today, we’re back with another major milestone.
We’ve just completed the sale of our full position in Native Teams, returning £1.11m from a £149,999 SEIS investment made just over three years ago. That’s a 7.4x all-cash return and the gains are entirely free from Capital Gains Tax.
It’s a powerful validation of our mission to consistently deliver liquidity and unlock access to venture capital for a broader group of investors.
Backing the founder, not just the business
We first met Native Teams CEO and founder Jack in August 2021. At the time, the business lacked focus, building two products simultaneously and without a clear direction. We passed but stayed close.
In January 2022, we re-engaged. The business had sharper focus, growing revenue, and a term sheet in hand. When that term sheet fell through just weeks later, we leaned in anyway. We saw grit, clarity, and the momentum needed to back him and we invested the full SEIS allowance of £150k in March 2022.
That decision has now returned almost the entirety of SEIS Fund 2.
Navigating the journey: M&A, Series A, and secondaries
In the years that followed, Native attracted early M&A interest, explored a £20m Series A (including a secondary sale opportunity), and ultimately opted to raise more capital directly into the business. Over that time, the business scaled across borders, with growing headcount, product expansion, and global infrastructure supporting remote workers and freelancers to get hired, paid, and managed compliantly in over 55+ countries.
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Why do we invest? The glib answer is ‘to make money’. For most investors however, I suspect the reasons are much more nuanced.
When I first committed funds to a Haatch portfolio company, the reasons for doing so were multiple. Of course, I was looking forward to value amplification and the tax basis was also highly attractive. However, I also had a strong sense of wanting to ‘plug in’ to a modern, cutting-edge area of technology.
