New £15m joint VCT Offer by Maven VCT 3 and Maven VCT 4
Opportunity to invest in two established VCTs
Maven Income and Growth VCT 3 and Maven Income and Growth VCT 4 have announced joint VCT Offers which will open in Autumn 2019, to raise up to £15m in aggregate (£7.5m by each VCT). Investors will be able to subscribe for one or both of the VCTs, and for both the 2019/20 and 2020/21 tax years, using one application form.
Maven VCT 3 and Maven VCT 4 each feature a portfolio of around 50 private companies invested across a wide range of sectors, including mature businesses alongside ambitious earlier stage assets carefully selected by Maven’s UK wide team for their strong growth prospects.
Both VCTs have a record of delivering increasing returns and are benefitting from Maven’s strong and varied flow of investment opportunities, sourced by one of the UK’s most active VCT and private equity houses, with Maven having recently completed its 30th new VCT qualifying investment in high-growth private companies since April 2016.
These 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.
The Offers will be open until April 2020, unless fully subscribed earlier, and will have a similar structure to recent successful Maven joint top-up offers, a number of which have closed early due to being oversubscribed. Applications will be accepted on a first-come, first-served basis.
Option to apply online
Investors will again have the option to submit an application (and payment) online, through a dedicated, secure investment portal - the first of its kind in the market for VCT investors. This portal makes the application process faster and simpler for investors, reducing the potential for postal and payment delays, or processing 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, Maven’s Managing Partner, said: “We are delighted to announce these latest Maven VCT Offers on behalf of the Boards and anticipate strong demand. Similar offers by Maven VCTs in 2017 and 2018 closed early, due to being fully subscribed after raising a total of £80m. VCTs continue to offer an attractive tax-efficient investment whilst allowing investors access to an alternative asset class with the potential for strong returns. Our experienced investment team has consistently demonstrated its ability to identify entrepreneurial private companies, and these Offers reflect a strong pipeline of attractive opportunities being sourced by Maven’s regional teams across the UK.”
Further details of the Offers will be available on the Maven website later in 2019, including the publication of a detailed Prospectus and an investor guide. If you would like to be notified of the launch of the Offers you can subscribe at www.mavencp.com/enewsletter to receive our private equity email updates, which will also include news of VCT investments, portfolio developments and exits.
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.