A £30m VCT fundraise is being planned by Maven Capital Partners.
Its two VCTs will raise up to £30 million in aggregate (with an aggregate over-allotment facility of £10 million) for the 2017/18 and 2018/19 tax years.
The firm said that the fundraise reflects a strong pipeline of opportunities to invest in opportunities to invest in high-growth UK private companies.
Both Maven Income and Growth VCT 3 and Maven Income and Growth VCT are mature, generalist VCTs, targeting long-term capital appreciation and aim to generate maintainable levels of income for investors. Each has a portfolio of around 40 companies invested across a wide range of sectors.
Managing Partner at Maven Capital Partners Bill Nixon said: “VCTs continue to offer one of the most attractive tax-efficient investment options, while providing investors with exposure to an attractive asset class and helping UK SMEs achieve their growth potential. We are delighted to announce Maven’s latest VCT offers, which reflect a healthy pipeline of exciting investment opportunities across the UK and in a range of sectors.
“Our experienced investment team has been very successful in identifying private companies that have the potential to generate strong capital returns, and delivering profitable exits for VCT shareholders, and we anticipate strong demand for these latest VCT offers.”
Headquartered in Glasgow and with seven other offices throughout the UK, Maven is a lower-mid cap private equity house focused on the provision of growth capital and mezzanine finance to SMEs across the UK. It manages over £415 million of assets for a variety of client funds, including Venture Capital Trusts, a range of government-back regional debt and equity funds, and Maven Investor Partners – a syndicate of institutional, family office and experienced investors.
The firm has nationwide coverage of the market for SME finance and is introduced to around 400 deals per year. It has invested over £300 million in SMEs across the UK.
