What MICAP does

MICAP (trading style of MI Capital Research Ltd, registered in England and Wales, company number 08634361) is a UK-based B2B SaaS research and due-diligence platform focused exclusively on tax-advantaged investments — Enterprise Investment Scheme (EIS), Seed EIS, Venture Capital Trusts (VCT), and Business Relief (BR) products. The platform serves financial advisers, wealth managers, IFA networks, and private banks with a cloud-hosted web application that aggregates hundreds of open funds and exposes over 75 structured data points per investment. It is built around four product pillars: the MICAP Fund Finder (filtering, side-by-side comparison, and portfolio construction), MICAP Reviews (analyst-written due diligence reports moderated by a Chartered Tax Advisor), the proprietary MICAP Impact Scores (a 0–8 scoring methodology across nine investment dimensions refreshed quarterly), and an Activity Log that doubles as a regulatory audit trail for high-risk investment advice.

The commercial model is subscription-based, with a self-serve tier priced from £40 (+VAT) per user per month under a 12-month minimum term, complemented by Panel Support Services — a higher-touch, bespoke-priced consultative subscription (24-month minimum term) in which in-house Panel Consultants help advice firms define their recommended fund panel and deliver quarterly market screens. A Client Reporting Service, digital application forms, and white-labelled valuation reports round out the offering. The platform is restricted to FCA-regulated investment professionals, which positions MICAP as a compliance-aligned specialist tool rather than a retail product.

MICAP was acquired by Defaqto in 2023 and now operates as part of that broader UK financial-services data and ratings group, retaining its brand identity and product surface. The company is headquartered at the Financial Research Centre, Pegasus Way, Haddenham, Aylesbury, and claims trust from over 1,000 UK financial advice and wealth management firms ranging from sole traders to national networks and private banks. The named team comprises eight individuals covering research, business development, panel consulting, web development, and full-stack engineering, plus a consultancy Research Moderator.

Name

MICAP

Legal name

MI Capital Research Ltd

Website

https://micap.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

MICAP is a UK SaaS research and due-diligence platform that helps FCA-regulated financial advisers, wealth managers and private banks research, compare and report on tax-advantaged investments (EIS, SEIS, VCT, Business Relief). Acquired by Defaqto in 2023, it is trusted by over 1,000 UK advice firms.

Ownership category

akta.pro rank

Headquarters

HQ city

Sittingbourne

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Platform Subscription (User Subscriptions): MICAP operates a SaaS subscription model. Financial advisers and wealth management firms purchase User Subscriptions (minimum 12-month initial term) which grant Authorised Users access to the MICAP Fund Finder, MICAP Reviews, MICAP Impact Scores, portfolio tools, and the activity log. Pricing starts at £40 (+VAT) per month for self-serve access, with a free trial available.
2. Panel Support Services Subscription: Additional subscription product for firms wanting bespoke panel definition and quarterly market screening by MICAP's Panel Consultants. Panel Support Service Subscriptions have a minimum 24-month initial term. Sold as an add-on to or independently from User Subscriptions, with bespoke pricing.
3. Client Reporting Service: Valuation reporting service for advisers to track and report on clients' tax-advantaged investments. Accessed via the platform, bundled within the subscription offering.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

MICAP provides a cloud-based SaaS research, due diligence and compliance platform for financial advisers and wealth management firms advising on UK tax-advantaged investments (EIS, SEIS, VCT, Business Relief). The platform combines a searchable database of hundreds of open funds with 75+ data points per investment, analyst-written reviews, proprietary Impact Scores, portfolio-building tools, digital application forms, and an automatic activity-log audit trail. Panel Support Services add expert consultant-led panel definition and quarterly market screening for advice firms.

Product overview

MICAP is a unified platform for advising on tax-advantaged investments (EIS, SEIS, VCT, and Business Relief). The core product is the MICAP Fund Finder, which provides access to investment listings, filtering, comparison tools, and portfolio building capabilities. This platform is enhanced by MICAP Reviews (detailed due diligence reports), MICAP Impact Scores (proprietary 0-8 scoring across nine investment aspects), and the MICAP Activity Log (automatic audit trail for compliance). Additional modules include Panel Support Services (expert consultants for panel definition and quarterly market screens) and the Client Reporting Service (valuations and white-labelled reporting for advisers). The platform integrates all these components to provide financial advisers with comprehensive research, due diligence, and compliance tools for tax-advantaged investment products.

Differentiator

Problem solved

Functional benefit

Products and services

• MICAP Fund Finder

Quantifiable outcome

• Trusted by over 1000 financial advice and wealth management firms
• +2 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

One partnership is on record.

• DefaqtocoreOthers · 1 January 2023MICAP was acquired by Defaqto in 2023. Following the acquisition, MICAP continues to operate as a distinct brand and platform, now forming part of the broader Defaqto group. Defaqto supports financial institutions, intermediaries and consumers to make smarter financial decisions, with comprehensive data, mission-critical technology and unrivalled understanding of financial planners' needs. MICAP team members continue in their roles as part of the Defaqto organisation. The acquisition provides MICAP with access to Defaqto's ecosystem of financial services data, technology, and client relationships.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Square Mile Investment Research & Consulting: UK fund research firm providing independent ratings, research, and due diligence on investment funds, directly serving financial advisers with similar fund screening and recommendation tools — the closest comparable in scope and customer base to MICAP.
• FE fundinfo: Major UK fund data and research platform offering fund information, ratings, and analytics to financial advisers via FE Analytics, with data feeds on thousands of funds — overlapping directly with MICAP's Fund Finder capabilities.
• FundCalibre: UK investment research and ratings provider offering Elite Ratings and research to financial advisers and wealth managers on a subscription basis — directly comparable to MICAP's research and ratings offering.
• Rayner Spencer Mills Research: UK investment research firm providing fund ratings, research, and portfolio construction tools to financial advisers, with strong comparable focus on alternative and tax-advantaged investments.
• Synaptic: UK adviser technology and research platform providing fund data, research, and analytics to financial advisers and wealth managers, serving the same B2B adviser workflow as MICAP.

Broad incumbents

• Morningstar (UK): Global investment research firm with a substantial UK adviser business offering fund ratings, research, portfolio analytics, and data — operates broadly across multiple asset classes rather than specialising in tax-advantaged investments.
• AJ Bell: UK investment platform offering pensions, ISAs, and dealing services with associated research and analytical tools for advisers and retail investors — a broader platform incumbent rather than a specialist tax-advantaged research provider.
• Trustnet: UK fund research and data platform (part of FE fundinfo group) providing fund information, performance data, and ratings to advisers and investors — overlapping with MICAP's broader market data positioning.

Others

• Defaqto: UK financial services data and ratings provider, and parent company of MICAP since the 2023 acquisition. Defaqto supports financial institutions, intermediaries, and consumers with comprehensive data, ratings, and technology.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mi-capital-research-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MICAP