Foresight Group LLP (“Foresight”), a leading infrastructure and private equity investment manager, today announces the launch of a new offer for subscription to raise £15 million on behalf of Foresight Technology VCT plc (“the VCT” or “the Company”), with an over–allotment facility to raise up to a further £10 million through the issue of new shares. The Offer will be made through the issue of new Foresight WAE Technology (FWT) shares.
Launched in 2019, the FWT share class has now raised over £25m, providing investors with exposure to early-stage companies with strong intellectual property, operating in substantive markets where the combined expertise of WAE and Foresight can offer attractive added value potential. Investments seek to take advantage of vast opportunities that exist to improve the productivity, efficiency and environmental impact of nearly every industrial sector from manufacturing through to energy.
The VCT aims to provide an attractive income stream as well as allowing investors to benefit from the VCT tax reliefs available to qualifying participants.
Andy Bloxam, Managing Director, Venture Capital at Foresight Group, said:“Against a backdrop of high inflation and economic uncertainty, it is more vital than ever to support British businesses. The FWT Share Class has continued to achieve positive momentum over the past 12 months, with a number of investments into exciting, fast-growing firms at the forefront of their respective industries.”
“The fund has a unique approach, thanks to both the technical expertise of WAE and investment track record of the team here at Foresight. We have continued to back early-stage, innovative companies across multiple sectors, with recent successes including Codeplay, a software development company based in Scotland, and Flusso, a Cambridge university spin-out business. We have a growing number of exciting companies in our portfolio and look forward to continuing to support them while delivering results for our investors.”
