The Boards of four Maven managed VCTs have announced their intention to raise further funds through top-up offers, which will close on 27 April 2012 and are available for subscriptions for the tax years 2011/12 and 2012/13. These are strictly limited offers, targeting GBP1.25m each (GBP5m in aggregate).
This opportunity is likely to appeal to income-seeking investors and those keen to maximise tax-efficient investments. The offers are structured to provide an immediate dividend stream from established VCT portfolios, alongside the 30% initial tax relief available on new VCT Shares.
There is an attractive opportunity to invest early and take advantage of an Early Investment Incentive, available for 2011/12 applications accepted by 12 noon on 29 February 2012 and offering additional shares equivalent to 1.5% of the application amount.
Maven is a later-stage investor, with one of the most experienced and best resourced VCT management teams in the industry investing in mature and profitable private companies for VCT shareholders. With deal teams based in six key regional offices, Maven is able to source a consistent flow of good quality introductions and the additional funds raised through this top-up offer will allow the VCTs to make further income generating investments.
Maven Managing Partner Bill Nixon (pictured) says: “There is an increasing appetite among investors for alternative ways to generate strong levels of tax efficient income. Well managed later-stage VCTs present an attractive opportunity to combine a prudent and diversified investment approach with the chance to benefit from up to 30% income tax relief and regular tax-free dividends.
“The Maven VCT offers are structured to give investors access to the full range of VCT tax benefits, whilst investing in established and broadly based UK private company portfolios and gaining immediate eligibility for dividends. Investors in a previous top-up opportunity for these four VCTs in April 2011, will have already received eight dividend payments, within just eight months."
