Venture capital trust (VCT) and private equity manager Maven Capital Partners’ Maven Income and Growth VCT 6 has launched a new VCT offer, which is limited to GBP6 million in new subscriptions.
There continues to be strong investor demand for the tax-free income potential and up to 30 per cent initial tax relief available on VCT investment.
Maven VCTs have launched a series of VCT fundraisings in recent years, a number of which have been oversubscribed, but Maven VCT 6 is the only Maven VCT raising funds in this VCT season.
Maven has completed three realisations 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.
Maven has completed over 40 growth or development capital transactions since 2011 and continues to target a wide range of private companies, many of which will offer sector-disruptive, innovative technologies or business models which have the potential to challenge an established market and drive economic transformation.
Bill Nixon, managing partner at Maven, says: “Maven is a committed backer of entrepreneurial British businesses. We manage a diverse private company portfolio and are well equipped to source some of the most exciting new private equity opportunities across the UK, whether that be in more established companies operating in traditional industry sectors, or investing in carefully vetted growth businesses with new business models which are challenging the traditional routes to market. 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. Since January 2014 we’ve completed 11 separate private company sales which have delivered investor returns of up to 7.1x cost, and completed 18 new investments across a range of sectors.”
