Octopus Investments has reached a fundraise target of a record £120m for its flagship fund, the £380m Octopus Titan VCT, for the tax year 2016-17 after announcing a further £50m top-up.
The latest offer follows the initial £70m fundraise for the vehicle, which launched at the end of August 2016 and reached capacity within five months. Demand for VCTs has grown dramatically, with figures released in January by the Association of Investment Companies (AIC) revealing fundraising for the VCT industry as a whole was up 53% from 6 April to the end of 31 December 2016. Alex Macpherson, head of the ventures team at Octopus and fund manager of the Titan VCT, said: "Titan VCT offers investors the opportunity to access a really exciting and unique portfolio of early stage comp...
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