Triple Point, the purpose-led investment manager, has today launched a new offer for subscription for the Triple Point Venture VCT Plc (‘the VCT’) to raise £10 million, with an over-allotment facility of a further £20m.
The additional capital will allow the company to fund a pipeline of new investments in ambitious early-stage companies and provide follow-on funding for existing portfolio holdings.
Now in its sixth year, the VCT gives investors access to a diversified portfolio of more than 45 already growing B2B startups across 20 different sectors. The VCT looks to invest in businesses which deal with other businesses (B2B), rather than companies that deal with consumers (B2C), given B2B companies are acquired at almost double the rate of their B2C peers, allowing the VCT to maximise potential returns for investors.
The VCT identifies businesses that are finding solutions to corporate challenges within growing markets, where there is a sustainable long-term demand for their product or service. Triple Point works with management teams with deep market knowledge of their sector – this experience and expertise helps them see the opportunities that others do not.
The Triple Point Venture VCT Plc has returned 11p total dividends and 10.4%¹ total return (including dividends) to shareholders since launch.
Jack Rose, Head of Sales at Triple Point commented; “To Triple Point, investing means delivering strong returns for our investors, while funding and supporting ambitious, innovative companies as they build new technologies that drive growth across the UK economy. The UK is the best place in Europe to start and grow a business, making it the natural home of venture capital. Triple Point Venture VCT provides the opportunity to invest in outstanding early-stage B2B companies that are solving a real need for their business users.”
Seb Wallace, Investment Direct at Triple Point Ventures added; “We are focused on backing the next generation of promising, fast-growth British businesses. The fund’s investments act as pivotal catalysts for national job creation and economic progress, while underpinning growth and returns for investors. In just the last year, our newest 14 investments have been associated with the creation of over 100 new jobs, distributed across the country, injecting fuel into the economy. Each investor in the fund gains exposure to a number of high-quality teams with innovative products, each harnessing the dynamism of Europe’s largest startup ecosystem to drive future investment returns.”