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Howard Kennedy advises 31 VCTs in seven months


Law firm Howard Kennedy has advised 31 venture capital trusts (VCTs) in the past seven months.

The firm’s VCT team has advised on 20 completed offers, with a further 11 offers ongoing, with a combined market value of GBP443m. The firm has advised 14 VCTs as both sponsor and legal adviser, and 17 as sponsor only.
Keith Lassman, partner and head of capital markets at Howard Kennedy, says: “For the past 17 years we have led the market advising VCTs.  This year we have advised on 31 of the 37 VCTs to come to market.  As the only English law firm able to act as both sponsor and legal adviser we are best placed to successfully advise VCTs coming to market.” 
Howard Kennedy has this year advised the following VCTs:

  • Octopus AIM VCT plc and Octopus AIM VCT 2 plc, raising GBP30m in aggregate
  • Octopus Titan VCT 1 plc, Octopus Titan VCT 2 plc, Octopus Titan VCT 3 plc, Octopus Titan VCT 4 plc and Octopus Titan VCT 5 plc, raising GBP70m in aggregate
  • Octopus Apollo VCT plc, raising GBP30m in aggregate
  • British Smaller Companies VCT plc and British Smaller Companies VCT2 plc, raising GBP40 million in aggregate
  • Triple Point VCT 2011 plc, raising GBP20 million in aggregate
  • Triple Point Income VCT plc, raising GBP20 million in aggregate
  • Puma VCT 11 plc, raising GBP45 million in aggregate
  • Maven Income and Growth VCT plc/ Maven Income and Growth VCT 2 plc/ Maven Income and Growth VCT 3 plc/ Maven Income and Growth VCT 4 plc/ Maven Income and Growth VCT 5 plc, raising GBP18 million in aggregate
  • Pembroke VCT plc, raising GBP35 million in aggregate
  • Proven Growth & Income VCT plc, raising GBP25 million in aggregate

In the last three years Howard Kennedy has advised 80 per cent of all VCTs launched into the market, and represents nine of the top 10 VCT managers by total VCT funds under management.

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