West End law firm Howard Kennedy has acted as legal adviser and sponsor in 62% of all Venture Capital Trusts (VCTs) launched in the VCT season 2010/11, reaffirming its position as a leading VCT legal adviser and sponsor.
As the only law firm that acts as both sponsor and legal adviser to VCTs, this season Howard Kennedy has represented 20 VCT issues of the 32 successfully launched.
In terms of fundraising, Howard Kennedy represents VCT prospectus offerings looking to raise GBP420 million of the total GBP741 million of prospectus funds in the 2010/11 tax season, representing 57% of the marketplace.
VCTs looking to fund raise represented by Howard Kennedy this season include: Amati VCT plc, British Smaller Companies VCT plc and British Smaller Companies VCT 2 plc joint linked offer, Downing Absolute Income VCT1 plc, Downing Planned Exit VCT 2011, Edge Encore VCT plc, Edge Performance VCT plc, Elderstreet VCT plc, Hazel Renewable Energy VCTs 1 & 2, Ingenious Entertainment VCTs 1 & 2 joint offer, Ingenious solar UK VCTs 1 and 2 joint offer, Northern Venture Trust plc, ProVen Growth & Income VCT plc, ProVen Planned Exit VCT plc, Puma VCT VII plc, Triple Point VCT 2011 plc and Unicorn AIM VCT plc. These VCTs have invested in a range of sectors.
Keith Lassman, commercial partner at Howard Kennedy, says: “Howard Kennedy has had another excellent year in terms of VCT offerings. The team’s hard work, and the advantage we have over other advisers by acting as both legal advisers and sponsors to VCTs, has yet again resulted in a strong performance. We look forward to continuing our work as market leaders in this field over the next year.”