Maven Income and Growth VCT 6 (Maven VCT 6) has announced that it intends to raise up to £6 million via a new share issue (with an over-allotment facility for a further £2 million) in late 2016. Maven VCT 6 has delivered steady improvements in shareholder value, and has completed two successful top-up fundraisings since 2014.
Investors will gain access to a regular flow of new investments in dynamic private companies, alongside an existing private company portfolio, at a time when the limited availability of bank debt continues to constrain the growth of many of the UK’s highest-potential businesses.
Maven is one of the UK’s best resourced generalist VCT managers, with a nationwide investment team being introduced to potential new investments across the UK regions, and a long term record of making new investments and achieving profitable exits for VCT shareholders using a proven strategy of backing carefully selected, dynamic private companies. This new share offer will support further expansion of the portfolio, with the objective of providing investors with long-term capital appreciation and the potential for tax-free dividend income.
Maven targets investment in ambitious growth businesses, many of which will offer disruptive, innovative technologies or business propositions, and has continued to identify high quality opportunities across its regional office network. Maven’s UK-wide team has already completed three new qualifying development capital transactions during 2016, investing in: The GP Service (UK), which provides a web-based platform for delivering GP consultations and prescriptions via a video link; innovative motor retailer Rockar, which offers a sector disruptive technology platform and a unique retail store design based in high-footfall shopping centres; and Chic Retreats, a B2B inventory management platform which allows smaller-scale accommodation operators to control the live distribution of boutique hotel rooms and luxury villas, and manage bookings in real time.
Bill Nixon, Managing Partner at Maven said: "We believe this latest Maven Offer will be attractive to investors who remain keen to benefit from the significant tax advantages offered by VCTs, including tax-free dividends, alongside the potential for growth from investment in well researched private companies sourced by one of the leading generalist VCT managers."
Despite changes introduced by the Government to the criteria for VCT qualifying investments, which have restricted the types of qualifying companies and transactions that VCTs can pursue, our nationwide team has a strong pipeline of interesting opportunities in process across the UK regions, and has already completed three new investments under the revised rules.”
Further details of the Offer will be available in due course, via a detailed Prospectus and an investor guide which should be issued in late 2016. If you would like to register interest in the Offer please contact Maven on 0141 306 7400 or enquiries@mavencp.com. Please note that if you are an existing shareholder in any of the Maven VCTs you will receive a copy of the Prospectus unless you have previously instructed us not to send marketing information.
Investors can also register at www.mavencp.com/enewsletter to receive email updates on the latest Maven news including new investments, portfolio developments and exits, and future VCT fundraising.
This article is an advertisement and is not a prospectus for the purposes of the prospectus rules. It is also a financial promotion issued by Maven Capital Partners UK LLP, which is authorised and regulated by the Financial Conduct Authority. An investment in the Maven VCT Offer should only be made on the basis of information set out in the Prospectus issued at the time of the Offer. Investment in a VCT carries a higher risk than many other forms of investment, and investors’ attention is drawn to the Risk Factors set out in the Prospectus. A VCT’s underlying investments will normally be in unlisted companies whose securities are not publicly traded and are therefore likely to be illiquid, carrying substantially higher risk than investments in larger, listed companies.