The two Mobeus VCTs have sold out, raising £90 million in just 45 days, including the £70 million offer + £20 million overallotments.
The manager invests across a wide spectrum of companies; from early-stage ones with less than £500,000 of revenue to later stage, profitable businesses. Successful companies previously backed by Mobeus include Virgin Wines, Auction Technology Group and photography reseller MPB.
The VCTs, Mobeus Income & Growth VCT and the Income & Growth VCT have total net assets of £338.5 million and a combined portfolio of around 50 companies. The VCTs recently increased their dividend target to 7% of NAV. Over the five years to June 2024, the VCTs have generated an average NAV total return of 71.2%.
The British Smaller Companies VCTs focus on technology companies with a bias towards data, tech-enabled services and new media. The VCTs’ largest holding, Matillion has previously achieved Unicorn status as one of Europe’s fastest growing businesses. Launches: Thursday 24th October.
Octopus Apollo focuses exclusively on more mature software businesses, mostly selling into corporate customers. These more mature, often profitable businesses have fared well during a tough period for the wider venture capital industry. Launches Wednesday 23rd October.
