Bringing you live news and features since 2006 

Albion Capital VCT top up offers raise GBP34m after strong performance


Albion Capital has closed its 2019/2020 VCT top up offers earlier than scheduled after existing and new shareholder support resulted in full subscriptions totalling GBP34 million. Five trusts in Albion’s VCT range announced their fundraising offers in October.

The fundraising targeted varying amounts for each trust as a result of different levels of exposure to substantial exits across 2019. The fundraising targets were: GBP10m for Kings Arms Yard VCT PLC, GBP8 million for Albion Development VCT PLC, GBP6 million for both Albion Enterprise VCT PLC and Albion Venture Capital Trust PLC, and GBP4 million for Crown Place VCT PLC.

The successful fundraising season for the Albion VCTs follows a sustained period of strong investment performance. Over the five years to 30 September 2019 the Albion VCTs returned an average of 8.8 per cent pa (excluding tax relief). Over the last 18 months, Albion participated in 25 follow on investments and 10 new investments in innovative, industry-disrupting technology businesses. This included recent portfolio additions Speechmatics, an automatic speech recognition software company, and Elliptic, a crypto-asset risk management solutions provider.
Recent successful exits include the sales of Process Systems Enterprise to Siemens AG and ELE Advanced Technologies to private equity investor Lloyds Development Capital, generating returns of 10x and 4x respectively for shareholders.
Looking ahead, Albion Capital will continue to invest in technology-driven, high growth companies, with a particular emphasis on its sector specialisms in digital healthcare, automation, digital security and data analytics. The combined value of Albion’s VCTs portfolios will increase to a figure of approximately GBP490 million, diversified across some 70 businesses.

Will Fraser-Allen, Managing Partner, Albion Capital, says: “It is great news to have fully subscribed our VCT offers for a fifth consecutive year. Shareholders have shown strong support as we continue to provide attractive returns across our trusts.
“It is an exciting time to be venture capital investors when the UK is a world leading hub for great technology companies led by inspiring entrepreneurs.” 

Stuart Mant, Head of Business Development at Albion Capital, says: “VCTs offer financial advisers and their investors unique access to fast growing, unquoted smaller companies in a closed ended structure giving valuable portfolio diversification along with attractive tax breaks.”  

Latest News

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
US Distribution Awards trophies
The winners of the first US ETF Distribution Awards at the Exchange conference, hosted by ETF Express and sponsored by...
Thomas Bonville, Clear Street
Just over a year ago, Thomas Bonville joined New York-based, prime brokerage Clear Street as managing director, head of derivative...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by