Unicorn AIM VCT raises £15m in one day

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The Unicorn AIM venture capital trust raised £15m in one day, becoming the fastest VCT to hit its maximum fundraising target this tax year.

On 25 January, the Unicorn AIM VCT launched an offer to raise up to £10m as it saw "further appetite", despite seeing a £150m decline in its assets under management during its last financial year. Of that decline, £71.7m was return to shareholders via ordinary and special dividends. The largest AIM focused VCT opened for applications at 9am on 6 February and had a £5m over-allotment facility. The offer was set to close on 30 March, or earlier if fully subscribed, or subject to the board's discretion. But both the initial offer of £10m and the £5m over-allotment facility that opened up...