Albion VCTs’ £10 million early bird offer was filled within eight hours of launch on 2nd January.
Wealth Club investors accounted for over half of early-bird subscriptions, with a median subscription of £10,000. Five Albion managed VCTs raising funds have reported returns of between 36.4% and 45.1% over the last five years, excluding tax relief.
Nicholas Hyett, Investment Manager at Wealth Club commented;
“2024 has started with a bang in the world of VCTs, with Albion’s £10 million early bird offer filling within eight hours of launch.
The launch marks one of the most successful VCT fundraises this tax year. We put that down to Albion’s very promising performance in recent times – helped by a sprinkle of magic from recently anointed unicorn Quantexa. The financial data platform passed the $1 billion valuation mark last April after raising $129 million from a host of European and US investors, including HSBC, ABN AMRO and BNY Mellon.
Even in a slower market attractive offers can be competitive and close quickly. We expect activity to ramp up as the end of the tax year approaches, with popular offers likely to fill some time before the deadline. As always with VCTs, it pays to act early to take advantage of the widest selection.”
