New £30m joint VCT Offer by Maven VCT 1 and Maven VCT 5
Opportunity to invest in two established VCTs
Maven Income and Growth VCT and Maven Income and Growth VCT 5 have announced a joint VCT Offer due to open in September 2018, to raise up to £15 million each (and each with an over-allotment facility of £5 million). Investors will be able to subscribe for one or both of the VCTs and for both the 2018/19 and 2019/20 tax years. These latest Offers, which are intended to be open until April 2019, will have a very similar structure to other successful Maven joint top-up offers, a number of which have closed early due to being oversubscribed, and applications will be accepted on a first-come, first-served basis.
Both VCTs have mature portfolios of around 40 companies invested across a wide range of sectors, and have delivered increasing shareholder returns under Maven’s management. These new Offers will support further expansion of the portfolios, with the objective of providing investors with long-term capital appreciation and the potential for tax-free dividend income.
Maven VCT 1 and Maven VCT 5 are benefitting from Maven’s strong and varied flow of private company investment opportunities, sourced by one of the UK’s most active VCT and private equity houses, with Maven having recently completed its 18th VCT qualifying investment in high-growth SMEs since April 2016.
Option to apply online
Investors will again have the option to complete and submit an application (and payment) online, through a dedicated, secure investment portal launched last year - the first of its kind in the market for VCT investors. This new system is designed to make the application process faster and simpler for investors, reducing the potential for postal loss, delayed payment and handling issues, particularly at times when the VCT offers often see high demand as the tax year end approaches or when early investment discounts apply.
Bill Nixon, Managing Partner at Maven Capital Partners said: “We are delighted to announce Maven’s latest VCT offers, which reflect a strong pipeline of attractive investment opportunities across the UK regions and in a range of sectors, and we anticipate strong demand for these latest offers. VCTs continue to offer a compelling tax-efficient investment option, while providing investors with exposure to an alternative asset class that helps UK SMEs drive economic growth, and our nationwide investment team has consistently demonstrated its ability to identify entrepreneurial private companies that have the potential to generate strong capital returns, and deliver profitable exits for VCT shareholders.”
Further details of the Offers will be available in due course, via a detailed Prospectus and an investor guide which should be issued later in 2018. If you would like to register interest in the Offers please visit www.mavencp.com/enewsletter where you can subscribe to receive email updates on the latest Maven news including new investments, portfolio developments and exits, and future VCT fundraising.
This article is an advertisement and is not a prospectus for the purposes of the prospectus rules. It is also a financial promotion issued by Maven Capital Partners UK LLP, which is authorised and regulated by the Financial Conduct Authority. An investment in the Maven VCT Offer should only be made on the basis of information set out in the Prospectus issued at the time of the Offer. Investment in a VCT carries a higher risk than many other forms of investment, and investors’ attention is drawn to the Risk Factors set out in the Prospectus. A VCT’s underlying investments will normally be in unlisted companies whose securities are not publicly traded and are therefore likely to be illiquid, carrying substantially higher risk than investments in larger, listed companies.