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Octopus launches Titan VCT top-up offer

by | Feb 15, 2017

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Retail fund manager Octopus Investments has launched an additional £50 million fundraise for Octopus Titan Venture Capital Trust (‘Titan VCT’).

This takes its fundraise target to a record £120million for this period.

 
 

Octopus Titan VCT was launched at the end of August 2016 and reached capacity within five months, following an initial £70m fundraise.

Titan VCT is the largest VCT on the market, with over £380 million in assets under management. Launched in 2007, it has focused on investing into early stage companies with the potential for high growth. It offers investors access to a well-established and diverse portfolio of around 50 smaller companies which range from very young early stage businesses to well-known household names including Secret Escapes, the members only holiday company.

Head of the Ventures team at Octopus and fund manager of the Titan VCT Alex Macpherson said: “Titan VCT offers investors the opportunity to access a really exciting and unique portfolio of early stage companies that has been built up over the last nine years.  Every year, we handpick a small selection of new investments from a pipeline of hundreds, and then work with the management teams to help those businesses realise their full potential.

 
 

“In the last year, we’ve been delighted to see Titan VCT-backed companies acquired by fantastic global businesses including Microsoft and Twitter indicating the commercial strength and talent of the UK’s young businesses. This latest fundraise gives investors the opportunity to support both established and developing portfolio companies as well as new businesses. The entrepreneurial scene in the UK is thriving, and as the largest VCT in the UK, we are lucky enough to attract some of the best investment opportunities within this sector and support the success of the most talented entrepreneurs through providing access to patient capital.”

CEO of Octopus Investments Simon Rogerson said: “This new fundraise target comes at an inflection point for the industry. Against the backdrop of significant pension reform, we are seeing more and more people looking for ways to complement their existing retirement planning. Many of these customers have asked us to design a VCT which could accept monthly contributions to complement how most people manage their existing retirement plans. With shares allotted quarterly, we are delighted that Titan VCT became the first VCT to offer this service to customers.

“Last year’s fundraise saw unprecedented interest from investors with Titan VCT seeing a record £100 million raised, closing five months early. It is a real sign of confidence in VCTs as a mainstream investment option that we are seeing even greater interest this year. VCTs are now seen by many as a powerful planning tool and can be an attractive way to gain access to the growth potential of smaller, early stage companies.”

 
 

Although it may close earlier, the share offer is open until 22 August 2017. The minimum investment is £3,000 and the maximum investment still qualifying for tax relief is £200,000.

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