Albion Capital has closed its 2017/2018 VCT top up offers after successfully raising the GBP32 million targeted amount. The offers, which launched on 6 September 2017, are fully subscribed across the five Albion VCTs participating in the fundraising.
Albion Capital will now focus on investing the money raised in technology-driven, high growth companies, with a particular emphasis on its sector specialisms in digital healthcare, automation, digital security and data analytics.
Albion has expanded its presence in the technology sector significantly in recent years, with notable investments including Black Swan Data (predictive analytics), Egress (data privacy and communication platform), Panaseer (big data cyber security firm) and Oviva (digital health).
Will Fraser-Allen, deputy managing partner at Albion Capital, says: “We are very pleased to have fully subscribed our VCT offers following a transformative few months for the industry. The Government’s Patient Capital Review has recognised the value VCTs add to the economy through their support of ambitious smaller companies, but will now herald some important changes.
“The Review will reshape the landscape for VCT investing and channel funding towards the most innovative growth companies. We see this as synonymous with technology and are excited about the range of opportunities in our pipeline which leverage tech to deliver novel solutions to real world business challenges.”