New joint VCT Offers by Maven VCT 3 and Maven VCT 4
Opportunity to invest in two established VCTs
Maven VCT 3 and Maven VCT 4 have announced joint VCT Offers, which will open in Autumn 2021, to raise up to £40m in aggregate (up to £20m per VCT, including an over-allotment facility). Investors will be able to subscribe for one or both of the VCTs on the same application form, and for both the 2021/22 and 2022/23 tax years.
Both VCTs have a consistent record of delivering increasing returns and paying dividends, and Maven has a proven record of delivering profitable realisations, with 14 successful private company realisations since January 2016 including the recent exit from Edinburgh based Symphonic Software for a 2.9x total return in under two years.
The VCTs also benefit from Maven’s varied flow of investment opportunities throughout the UK regions, sourced by one of the UK’s most active VCT managers, with Maven having recently completed its 49th new VCT qualifying private company investment since April 2016.
Maven VCT 3 and Maven VCT 4 each feature a portfolio of around 60 private companies invested across a wide range of sectors, alongside carefully selected AIM quoted companies, including businesses active in defensive sectors such as software, cyber security, life sciences, web archiving, data analytics, training and healthcare, which are generally not consumer dependent and therefore have been less directly affected by the global COVID-19 outbreak.
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 May 2022, 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 strictly first-come, first-served basis.
We are delighted to announce our latest VCT Offers and anticipate strong demand, with recent offers by Maven VCTs since 2017 having closed early due to being fully subscribed and raised a total of £135m. VCTs continue to offer one of the most attractive tax-efficient investment options available, 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 and AIM quoted companies, and these Offers will allow the VCTs to capitalise on a strong ongoing pipeline of attractive opportunities being sourced by Maven’s regional teams across the UK.
Bill Nixon, Managing Partner at Maven
Further details of the Offers will be available on the Maven website later in 2021, including the publication of a detailed Prospectus.
Dividends are variable and are not guaranteed and past performance of the VCTs is not an indication of future performance. Investment in a VCT carries a higher risk than many other forms of investment, and investors’ attention is drawn to the Risk Factors to be set out in the Prospectus. A VCT’s underlying investments will normally be predominantly 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. The Maven VCTs are managed by Maven Capital Partners UK LLP, which is authorised and regulated by the Financial Conduct Authority.