Maven launches GBP15 million fundraise for Maven Income & Growth VCT 3 and 4
The VCT season continues to pick up steam, with Maven announcing its intention to raise GBP15 million across two of its VCTs. It follows on from recent high profile launches from Albion, Mobeus and Octopus Titan.
Demand for VCTs has been strong this tax year. So far GBP31 million has been invested through the Wealth Club platform compared with GBP21 million over the same period last year.
This comes despite many people sitting on their hands as a result of election and Brexit uncertainty and the fact that many popular VCTs have opened later this year than last.
Alex Davies, CEO and founder of Wealth Club, says: “Last year GBP731 million was invested in VCTs. This year, with restrictions on pensions and buy to let continuing to bite and the ever-encroaching dividend tax it is expected demand will be even stronger.
“Unlike unit trusts, VCTs only have a limited capacity each year. Once the target raise is reached they close. Interested investors are therefore urged to start looking at their options now.
“Maven is a case in point. Raising just GBP15 million this year, it is likely to sell out very quickly. Therefore, those who like the look of it should consider acting now to avoid disappointment.
“The Maven VCTs have long been a cornerstone of many investors’ portfolios, owing to generous dividend payments and a history of good exits.
“This new offer gives investors an opportunity for invest in a portfolio of established companies as well as investors best of both worlds: the potential growth of new investments (Maven has been one of the most active VCT investors since the rule changes) plus the security of an established book of older, lower-risk businesses (50 per cent of the portfolio).”