Molten Ventures VCT launches up to £40m fundraise

Targets 5% dividend

Molten Ventures VCT has launched an offer for subscription to raise £20m, with an overallotment facility of £20m.

The trust's portfolio is valued at £123.9m and consists of 35 companies, including a range of UK technology businesses, such as PrimaryBid, Freetrade, Riverlane and Focal Point. Nicholas Hyett, investment manager at Wealth Club, said Molten Ventures, which targets a dividend of 5%, is "among the most established venture capital outfits in Europe." The VCT is managed by the same team that oversees Molten Ventures' own balance sheet investments, and usually invests alongside the vehicle. Molten Ventures VCT's offer period will open on 12 October and will last until 5 April for applic...