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Calculus Capital Ltd.

Venture capital

London · Seed–Late Stage · 24 people tracked

Also known as Mcdonald Glencross Limited · Mcdonald-Glencross Limited

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Investment thesis

Calculus is a long-standing UK manager focused on tax-advantaged investing through EIS funds and VCTs, backing EIS and VCT qualifying companies since launching the first UK approved EIS fund in 1999. It runs a generalist EIS fund annually and multiple VCT share issues, and in 2022 launched a Knowledge Intensive EIS Fund. Its approach emphasises capital appreciation, a diligent investment and monitoring process, and a track record of profitable exits. In January 2026 it added the Calculus Inheritance Tax Solution, providing secured loans for film and TV productions.

Source: firm website, verified Aug 3, 2026.

Stage
Seed–Late Stage
Check
$2.5M
HQ
London, GB
Instruments
Equity
Founded
1999
Net assets · FY2025
$7.3M
Tracked investments
39

Team · 24 people

from the firm's website & public directories
Brad Noel· Assistant Director, Media and Entertainment Financing
Bella White· Client Services
Christopher Gould· Financial Planning and Analysis Manager
Francesca Rayneau· Director, Head of Sales and Marketing
Frank Spurway· Assistant Director, Sales & Marketing
James Gower· Analyst, Sales and Marketing
Krishnaa Bhat· Analyst, Media and Entertainment Financing
Mariyah Dosani· Director - Media and Entertainment Financing
Matthew Moynes· Director, Sales & Marketing
Oliver Warren· Director, Sales & Marketing
Richard Banks· Associate Fund Administration
William Prince· Director

What they invest in

from 2 of 39 portfolio companies

Biotech ×2Cleantech ×1Deep Tech ×1Healthtech ×1Medical Devices ×1

HQs:United States×1

Investments · 39 tracked

founders shown can be your intro path
Arctic Shoresarcticshores.comin
Arecorarecor.comin
Axol Bioscience Censo Biotechnologies
Blu Wireless Technology
Booked It
Brouhaha Entertainment
C4X Discovery
Econsult
Edifyin𝕏
Ensilitechensilitech.comin

EnsiliTech develops ensilication technology, a silica-based method to stabilise vaccines and biopharmaceuticals so they can be stored and transported without refrigeration.

BiotechCleantechDeep TechHealthtechMedical Devices

Asel Sartbaeva(Co-Founder & CEO)Matt Slade(Co-Founder & Chief of Staff)Stephen Wells(Co-Founder & Advisor)Aswin Doekhie(Co-Founder & CTO)Sabine Ficek(CFO)Simon Bennett(Chief Commercial Officer)

Essentia Analytics
Fiscal Technologies
Grateful
Hinterview
Home Team Content
Invizius
Ipv
Laverock Therapeutics
Maven Screen Media
Mip Diagnostics
Mo
Notify
Open Energy Market
Optalitix
Oxford Biotherapeutics
Quai
Raindog Films
Resurrect Bio
Riff Raff
Rotageekrotageek.comin𝕏
Scancell
Smartr365

An end-to-end mortgage and protection platform that automates the mortgage process and integrates brokers, estate agents, homebuyers and lenders.

Spectral MDSep 2018

BiotechDallas, US

John H, Stevens(Director)Erich Spangenberg(Director)J. Michael DiMaio(Executive Officer, Director)

Tagomics
Trogenix
Wazoku
Weedingtech

Supplies machines and supplies that kill weeds without using herbicides.

Wonderhood
Workl

Principals & officers · per Companies House

what is this? ⓘ
Arthur John Glencross

Director · British · since 1999

Susan Rebecca Mcdonald

Director · American · since 1999

Julie Hong Nhan Ngo

Director · British · since 2022

Ownership & control

Calculus Holdings Limited75–100% of shares, 75–100% of voting rights, right to appoint and remove directors

Frequently asked questions

What stage does Calculus Capital Ltd. invest at?
Calculus Capital Ltd. invests at the Seed, Series A, Series B, Series C, Late Stage stages.
What is Calculus Capital Ltd.'s typical check size?
Calculus Capital Ltd. typically writes checks of $2.5M.
What sectors does Calculus Capital Ltd. focus on?
Calculus Capital Ltd. focuses on Biotech, Data & Infrastructure, Enterprise Software, Fintech, Healthtech, IoT, Media & Entertainment, Medical Devices, SaaS, Sector Agnostic.
Where is Calculus Capital Ltd. located?
Calculus Capital Ltd. is headquartered in London, GB.

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