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HowardKennedyFsi leads the way in VCT fundraising

April 16, 2013
- 9:30 am

Law firm HowardKennedyFsi has acted as legal adviser and/or sponsor in over 78 per cent of all venture capital trusts (VCTs) launched in the VCT season 2012/13.

As the only English law firm to act as both sponsor and legal adviser to VCTs, this season HowardKennedyFsi has represented 25 of the 32 successfully launched VCTs; over a massive 78 per cent.

In terms of fundraising, these VCT prospectus offerings have raised over GBP171m, a year when the total market raised a mere GBP209m.

The firm also acted for the only new successful VCT entrant this tax year, Pembroke VCT, which to date has raised over GBP11m. Pembroke VCT was established by serial entrepreneur Peter Dubens of Pipex and 365 Media Group, who manages Oakley Capital, which has some GBP750m under management.

Keith Lassman (pictured), partner and head of VCTs, says: “HowardKennedyFsi has had another excellent year in terms of VCT offerings and we are looking forward to 2013. This year has been interesting in terms of the type of funds we are seeing on the market; the Pembroke VCT for example was not only the sole new entrant but illustrates the growing interest in the retail market from institutional fund managers. We are proud to continue dominating the VCT market place as the lead professional adviser in capacity as both law firm and regulated sponsor – a fantastic achievement for all those involved.”

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