Albion Ventures has launched the Albion VCTs Top Up Offers and is seeking to raise up to GBP24 million across its six venture capital trusts.
Investors who apply before 31 January 2017 for the first GBP7.5 million of shares will be entitled to an "early bird" discount.
The latest offers follows the execution of a highly active investment programme by Albion in 2016 in which approximately GBP25 million was invested in around 20 companies across a range of sectors where it has identified the opportunity to create long term value.
Recent companies that have been backed by Albion include InCrowd Sports, a mobile fan engagement and sports marketing agency; SBD, an automotive technology specialist; Panaseer, a cyber security software provider, Black Swan, a next generation predictive analytics business; and Convertr, an enterprise technology platform.
The offers will provide investors with immediate exposure to six mature Albion VCTs, with a combined net asset value of over GBP300 million and a diversified portfolio of around 65 businesses. These range from stable asset-backed businesses to growth and technology companies.
Patrick Reeve, managing partner at Albion Ventures, says: “Given the good progress of our VCTs in 2016 we expect to see strong demand for the top up offers among both new and existing investors seeking a reliable long-term income stream and the prospect of capital growth.
“In the past year we have broadened our investment portfolio to include several new high growth companies, which are well placed to deliver impressive growth in the years to come. We have already identified a number of new investment opportunities for 2017 and look forward to bringing these to fruition.”
The offers are targeting a monthly tax-free income of 5.7 per cent pa (should investors choose to invest equally across all offers), equivalent to approximately 8.2 per cent on the net cost of investment after up-front tax relief at 30 per cent.
The offers opened on 29 November 2016 and are expected to close no later than 29 September 2017 (unless fully subscribed by an earlier date or previously closed).
