Investment firm Octopus Titan Venture Capital Trust intends to raise GBP200 million when it opens towards the end of the summer, making it the biggest VCT fundraise ever.
Alex Davies (pictured), CEO and founder of Wealth Club, the online investment platform for High Net Worth Individuals (HNWIs) says: “This is the biggest VCT raise ever and reflects the fact VCTs are becoming an increasingly mainstream investment option. With cuts to the pension allowances, restrictions on buy to let investing and more onerous taxation we expect demand to be greater than ever.”
In the 2016/17 tax year, VCTs saw the strongest demand in a decade raising GBP542 million.
Davies adds: “This latest fundraise gives investors the opportunity to support some of the UK’s fastest growing companies, and in doing so they benefit from a number of attractive tax incentives if the shares are held for at least five years, including 30% upfront tax relief, tax-free dividends and tax-free growth.
“Whether you are seasoned VCT investor or someone planning your first foray into the VCT space, then investing with a well-known name like Octopus, with a strong track record of delivering returns for investors is a compelling option. Not only is Octopus Titan the UK’s largest VCT but it also boasts numerous success stories including Zoopla, the first GBPbillion company to come out of a VCT, and Secret Escapes”.