Published: Feb 22, 2022
Focus: Growth Capital
There is now less than six weeks remaining of this tax year, and the current joint offers by Maven VCTs 3 and 4 recently surpassed their initial £20 million fundraising target. In view of continued interest from investors, as well as the continued strong levels of deal flow across Maven’s UK wide network, the VCTs have now announced that they will use their over-allotment facilities, which means that the Offers can now raise additional funds up to a maximum for the Offers of £40 million as required to meet remaining investor demand.
The Offers will close on 4 April for the 2021/22 tax year and 27 May for the 2022/23 tax year.
Nationwide deal flow
Maven is one of the most active managers in the VCT industry, with 50 new private company investments completed on behalf of VCT shareholders since January 2017 across a range of exciting sectors such as software, cyber security, medtech, data analytics, life sciences and healthcare.
A history of positive returns
These two established VCTs have a long term record of delivering positive Shareholder returns*, with Maven VCT 3 having delivered 12 consecutive financial years of NAV Total Return increases, while Maven VCT 4 has delivered increases in 11 out of 12 years.
That performance is underpinned by Maven’s record of achieving profitable private company exits for the VCTs that help to support the payment of regular dividends**, including most recently the 6.5x return from the sale of cyber security business Quorum Cyber after an investment period of just 18 months. Following that exit, both Maven VCT 3 and Maven VCT 4 announced further interim dividends of 2p per share.
Highly diversified portfolios
Maven VCT 3 and Maven VCT 4 both operate a hybrid private equity and AIM investment model, investing predominantly in a range of carefully vetted private companies alongside selected AIM quoted companies, targeting investment in young and dynamic growth businesses that often benefit from contracted recurring revenues.
The portfolios are invested across a range of UK industries and a broad geographical base, and also have relatively low exposure to direct consumer facing sectors which have been most affected during the pandemic, including retail, leisure, hospitality and entertainment.
Find out more
For further information about the Offers and to download the Securities Note click here.
*Past performance, including portfolio exits and the payment of dividends, should not be taken as an indication or forecast of likely future realisation activity or investor returns. **The payment of dividends is not guaranteed.