The Mobeus VCTs, currently predominantly invested in management buyouts of established profitable companies, are opening new share offers to raise, in aggregate, up to £50 million, with over-allotment facilities to raise, in aggregate, up to a further £30 million. Mobeus’s existing VCT asset base is approximately £200 million.
Mobeus Equity Partners provides growth and buyout capital to UK-based SMEs across all sectors.
All new investments will be in younger, smaller companies to fund their growth and development, to comply with the VCT rule changes.
Mobeus Partner and head of growth capital, Trevor Hope, said: “We are delighted to be raising funds for our consistently high-performing VCTs for the first time since December 2014. Our last fundraising proved very popular, so I encourage early applications from both existing shareholders and new investors, to ensure these are satisfied in full.
“In anticipation and response to the changes in VCT rules, over the last two years we have focused our growth investment strategy, expanded our team with exceptional growth investment professionals and continue to attract a great pipeline of interesting, exciting and fast-growing British businesses. We are well placed to continue delivering good returns for our shareholders.”
According to figures published in a Mobeus statement, there has been a strong Mobeus VCTs performance. Since 2014, there have been: ten profitable realisations realising cumulative cash gains of £99 million; 19 new investments, deploying £98 million; and, nine new investments, deploying £31 million, since the introduction of the new VCT regulations in November 2015.
