Albion Ventures targets £15m VCT fundraising

Albion Ventures has launched a top up scheme seeking to raise up to £15m across six of its venture capital trusts (VCTs).

Albion VCTs Top Up Offers are targeting a monthly tax-free income of 5.7%, if investors choose to invest equally across all offers, equal to 8.1% on the net cost of investment after up-front tax relief at 30%. Investors in the offers can also participate in the dividend reinvestment scheme, which reinvests dividends in the form of new shares in Albion VCTs, offering a further 30% tax relief on the value of the dividend received. The offers provide investors with exposure to six mature Albion VCTs, comprising a portfolio of 58 businesses worth over £187m, the group said. These inclu...