Albion Capital has completed the top up offers across its six venture capital trusts (VCTs)
IN BREIF:
The £80m raised will be deployed across a pipeline of new opportunities, alongside helping accelerate growth within the existing portfolio of around 60 businesses
This fundraise will enable them to continue investing across their portfolio of high-growth software, healthcare (including health tech) and mission critical tech enabled services
Albion Capital VCTs returned an average annual return of 8.4% p.a. over the 10 years to 30 September 2022, 9.0% p.a. over 5 years and 6.3% p.a. over 3 years excluding tax relief
What does this mean?
Will Fraser-Allen, Managing Partner at Albion Capital, says “VCTs play an important role bringing British innovation to life and supporting entrepreneurs on their growth journey. This results in positive economic and social benefits for the UK and valuable returns for patient VCT investors. This has been recently demonstrated by one of our companies, Quantexa, completing a funding round at a £1.4bn valuation. Given the ongoing global economic and geopolitical challenges, we believe that the funding provided by VCTs is more important than ever and this well supported fundraise makes it possible to continue backing talented entrepreneurs to accelerate growth.”
