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Albion Ventures announces GBP25.5 million top-up fundraising

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Albion Ventures is seeking to raise up to GBP25.5 million across its six venture capital trusts with the launch of the Albion VCTs Top Up Offers.

The Offers are targeting a monthly tax-free income of around 6 per cent pa (should investors choose to invest equally across all Offers), equivalent to approximately 8.5 per cent on the net cost of investment after up-front tax relief at 30 per cent. 
 
Investors in the Offers also have the option to boost their capital growth by participating in the dividend reinvestment schemes (DRIS), under which dividends are reinvested in the form of new shares in the Albion VCTs.
 
The Offers will provide investors with immediate exposure to six mature Albion VCTs, with a combined net asset value of over GBP270 million diversified portfolio of around 60 businesses.  These range from stable asset-backed businesses to growth and technology companies. Since the business was founded in 1996, Albion VCTs have paid out dividends to shareholders every year, totalling in excess of GBP160 million. 
 
Patrick Reeve (pictured), Managing Partner at Albion Ventures, says: “Our VCTs have a proven track record. We have seen strong growth within our portfolio and are expecting growing demand for our Offers this year as investors look to take advantage of a reliable long-term income stream and the prospect of capital growth.
 
“With last year’s significant pension reforms and increasing freedom, VCTs will become increasingly popular as an additional form of pension supplement post-retirement as well as to young professionals who regard it as a long term savings plan. Our range of VCTs provide diversification across a broad portfolio of SMEs.
 
“The UK economy continues to strengthen, providing excellent growth opportunities and we look forward to extending these to both new and existing investors.”
 
Martin Churchill, Editor of Tax Efficient Review, says: “Albion’s approach to investing fits well with the recent changes to VCT rules & presents a strong offer for investors interested in a manager with a unique combination of lower risk, asset-based businesses and higher growth businesses.”
 
The Offers opened on 18 November 2015 and are expected to close no later than 30 September 2016 (unless fully subscribed by an earlier date or previously closed).

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