Maven VCT Offers close early, fully subscribed

Late last year, the four Maven VCTs launched new share offers for subscription, giving investors the opportunity to apply for new shares in any combination of Maven VCT 1, Maven VCT 3, Maven VCT 4 and Maven VCT 5 using a single application.

Investors could access established portfolios of over 120 private and AIM-quoted companies, offering high diversification and low asset concentration. They also benefited from up to 30% initial tax relief, tax-free dividends, and exemption from capital gains tax.

In January, with the offers approaching their initial £20 million joint target and in view of continued demand from investors and advisers, the Maven VCTs announced the use of their over-allotment facilities. The increased capacity enabled the offers to raise a maximum of £40 million in aggregate, supporting the continued expansion of the VCT portfolios through investment in emerging UK companies at a time when Maven’s regional office network continues to generate a flow of high-quality investment opportunities.

Having reached its £40 million fundraising target, the offers have now closed to further investment ahead of the tax year end.

The close of the offers at full capacity marks a strong endorsement of the Maven VCTs’ investment approach. The capital raised will enable the VCTs to continue supporting early-stage and growth focused businesses across the UK, building on their longstanding track record of identifying and nurturing entrepreneurial talent.