The two British Smaller Companies venture capital trusts have launched a fundraise for up to £90m today (20 September).
This will comprise of a £65m fundraise and an over-allotment option of up to £25m. Managed by YFM, the two VCTs tend to investment between £2m and £6m at a time in companies with at least £1m of revenue. They tend to prefer established businesses looking for their next phase of growth over start-ups. The two trusts have combined net assets of more than £334.5m and a portfolio of 41 companies, focusing on technology and with a bias towards businesses focused on data, application software, tech-enabled services and new media. Puma VCT 13 launches fundraise for up to £70m In the fi...
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