Matrix Private Equity Partners: Why 2011 was our best year ever

Few VCTs are upbeat nowadays - they are either fretting over the state of their portfolio, or their next fund, but one manager has just experienced a record number of deals.

"2011 was our best year ever," says Mark Wignall, chief executive of Matrix Private Equity Partners, a VCT manager. The firm clocked up four exits that generated £42.7m in real proceeds against just £8.5m of cost for new investments. The most outstanding was AppDNA. Foresight VCT initially backed the deal and Matrix took over in 2008, giving it the lead in the exit. It was sold last October to trade buyer Citrix for $92m, £16m of which went to Matrix - a 32x multiple. That transaction enabled Matrix to pay a 20p dividend to shareholders from profit gain. "Last year the prospects for sell...