The Foresight VCT Ordinary Shares Offer has raised £40m in six weeks.
The offer closed at capacity, having raised an additional £20m via an extended offer which reflected the high level of demand.
Foresight VCT sets out to provide investors with attractive returns from a portfolio of investments in fast growing, unquoted SMEs. The VCT’s core strategy is to pay an annual dividend to shareholders of at least five pence per share. Over the last five years the Foresight VCT has paid an average dividend of 7.1p/share.
Since the latest fundraising, Foresight has completed a £1.7 million investment into Midlands-based Online Poundshop. This was part of larger growth capital investment of more than £2 million.
Partner at Foresight Group Mike Currie said: “Since their inception in 1995 VCTs have offered diversification for high earning retail investors who are looking at alternative tax efficient investment options . Foresight has positioned itself the forefront of this market which the success of the Foresight VCT £40m fundraise exemplifies.
“VCT products are fast becoming a mainstream option for income tax and retirement planning in light of pensions freedom legislation changes, providing an enhancement to pension income for a more diverse range of investors.”
