£18m Maven VCT Offers fully subscribed and close early
Maven has announced that its £18m VCT Offers are fully subscribed, just three months since launch and around three months ahead of the scheduled closing date. Maven’s is the first generalist VCT offering to close for this VCT season.
This year’s Offers, by five Maven Income and Growth VCTs, generated significant demand from investors who were able to access mature portfolios of profitable and high-growth private companies, each with an established history of attractive tax-free dividends.
Bill Nixon, Managing Partner at Maven, said “We are very pleased to be the first manager to see its VCT offers fully subscribed this year, symptomatic of continuing strong investor appetite for later-stage focussed VCTs. Almost 1000 investors have subscribed to the Maven offers since they were launched in late October. We are also very encouraged by the continuing support for VCTs, which have become established as a mainstream investment product as most successful generalist managers have, like Maven, established a track record of steady growth in NAV, in tandem with attractive tax free yields. In an environment of continuing low interest rates for savers, and reduced scope for pension contributions, VCTs continue to offer investors exposure to something interesting and different, as part of their overall portfolio.”