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Howard Kennedy kicks off 2015/16 VCT season with GBP50m Octopus Titan fund raising


Law firm and regulated sponsor Howard Kennedy has opened the 2015/16 VCT season advising Octopus Titan VCT on the launch of its GBP50m prospectus – the first VCT prospectus launched this tax year.

Octopus Titan VCT is the largest Venture Capital Trust in the market, and was named ‘Best VCT’ at the 2015 annual What Investment Awards. Octopus is a leader in early-stage investment, with over GBP5bn in assets under management and more than 400 staff.
Partner and Head of Capital Markets Keith Lassman (pictured) and partner Stephen Heinemann led the Howard Kennedy team advising Octopus Titan VCT. Howard Kennedy is the only English law firm able to act as both sponsor and legal adviser to VCTs. 
In the 2014/15-tax year Howard Kennedy advised on 27 of the 33 VCT offers with a combined market value of GBP370 million. 
Lassman says: “The Finance Bill 2015 makes some significant changes to the rules relating to VCTs which are expected to come in to force in early November 2015.  However, despite these major changes we expect our VCT pipeline to match that of last year as the industry proves how robust it is and, to their huge credit, how adaptable its managers and promoters are in support of growing UK businesses.“
Octopus Titan VCT is the first VCT to publish its prospectus this tax year, in advance of the Finance Act 2015.  Octopus is confident that despite the changes to legislation it will be able to continue to support the next generation of businesses and smaller companies across the country that are contributing to the UK’s overall economic growth.
Howard Kennedy has a dedicated team of partners and staff advising VCTs through its wholly owned FCA authorised subsidiary, Howard Kennedy Corporate Services LLP, which has been active in the market place since 1997, listing well over 200 companies over that period.

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