UK's largest limited life VCT provider launches £30m fundraising

VCT specialist Puma Investments has today launched its latest limited life venture capital trust, Puma VCT 10.

The vehicle, which aims to raise £30m, will invest in senior secured loans in established businesses across a number of sectors, including leisure, healthcare and real estate. It will target a tax-free dividend of 6p per share from April 2016, equivalent to an annualised return of 8.6%. Puma Investments CEO David Kaye said a lack of lending to small and medium enterprises (SMEs) by high street banks had led to an increase in interest for VCT funding. "In 2005 we struggled to spend the money we had taken in because we were competing with high street banks who were lending at very lo...