The four offers for subscription to raise up to GBP10m each for the Baronsmead VCT, VCT 2, VCT 3 and VCT 4 were all fully subscribed by close of business on 24 February 2014 – just 23 days after launch.
The additional funds raised will augment each company’s capacity to continue to invest across the business cycle in new and existing portfolio companies.
Amounts subscribed under each offer will be invested directly in new shares in the relevant company and will enable investors to participate in the investment returns of that company’s new and existing portfolio companies.
“We are delighted with the strong appetite for the fundraisings by the Baronsmead VCT, VCT 2, VCT 3, and VCT 4 which has resulted in each offer being fully subscribed 23 working days after launch, raising GBP40m in aggregate, before costs,” says Michael Probin, ISIS EP LLP, VCT investor relations director.
