Maven launches VCT to back growth firms
Glasgow-based Maven says there continues to be strong investor demand for tax-free income potential and up to 30% initial tax relief available on VCT investment in private companies.
Maven VCTs have launched a series of fund-raising exercises in recent years, a number of which have been oversubscribed.
Maven has delivered strong exits for shareholders including three within the past 15 months that have delivered investor returns of 7.1x, 6.5x and 5x respectively, following trade sales to German and US buyers.
Changes by the Government to VCT investment rules in 2015 restricted the range of companies eligible for VCT finance, at a time when access to capital remains a challenge for SMEs, despite record low interest rates since 2009.
In light of this, VCT investors are looking for managers with a proven investment track record, comprehensive coverage of the UK market and a team with the ability to transact a broad range of VCT qualifying deals.
Maven has completed more than 40 growth or development capital transactions since 2011 and continues to target a wide range of private companies.
Many of these offer disruptive, innovative technologies or business models, including four new VCT investments since April 2016:
Bill Nixon (pictured), managing partner, said: “Maven is a committed backer of entrepreneurial British businesses.
“After we invest our approach is to work collaboratively with each portfolio company management team, to help them grow and ultimately find a buyer for the business who will pay a price reflective of the shareholder value which has been created.”