Calculus, a leading provider of tax-efficient investments, today unveils its latest Venture Capital Trust (VCT) Fund offer for the 2023/24 tax year.
The Offer will seek to raise up to £10 million and will have an over-allotment facility, for an additional £10 million (with a total fund-raising of up to £20 million including the over-allotment facility). The launch comes hot on the heels of the UK government’s amplified support for EIS, and now, with this VCT launch, Calculus aims to further bolster the UK’s innovative and high-growth potential companies.
The VCT Fund, set to close on 30th August 2024, offers investors a diversified portfolio, targeting sectors including technology, healthcare, and entertainment. With a minimum investment threshold set at £5,000, the fund is poised to attract both seasoned and new investors. This launch is a testament to Calculus’s commitment to fostering the UK’s entrepreneurial ecosystem.
John Glencross, Chief Executive and Co-Founder of Calculus Capital, said:
“Our journey since launching the first HMRC approved EIS fund in 1999, has been one of growth. With this VCT Offer, we are further solidifying our pledge to back the UK’s most promising businesses. We believe that through this VCT, investors can not only benefit from capital growth and tax-free dividends, but also play a pivotal role in shaping the future of the UK’s innovation landscape.”
The VCT champions companies that are reshaping their landscape through innovation. Calculus collaborates with nimble management teams possessing deep industry insight, leveraging their knowledge to uncover opportunities often overlooked by others.
Investors in the VCT can anticipate a range of benefits, including up to 30% income tax relief, exemption from capital gains tax, and the potential for tax-free dividends. The fund’s focus on the technology and healthcare sectors resonates with the UK’s current trajectory, with the technology sector in particular, leading the European market in VC funding.
Among the notable companies in Calculus’s portfolio are Oxford BioTherapeutics, Optalitix, and Rotageek, all of which have showcased impressive growth and innovation in their respective domains.