The venture capital trust (VCT) sector raised GBP402.5m in the 2012/13 tax year (value of new shares issued), according to figures published by the Association of Investment Companies (AIC).
This is up 22 per cent on the previous tax year (GBP330.9m).
Excluding enhanced share buy backs, the VCT sector raised GBP269.2m in the 2012/13 tax year compared to GBP267.4m raised in the previous tax year.
Ian Sayers (pictured), director general, AIC, says: “The level of funds raised is at its highest in seven years, reflecting strong investor demand for the sector. This is a clear vote of confidence in the VCT structure and its role in financing UK smaller companies.”
