VCT fundraising doubles to £340m

VCTs have doubled their fundraising in the most recent complete tax year, according to the AIC.

For 2009-2010, VCTs raised £340m, up from £158m the previous year. This figure ranks as the fourth highest since VCTS were launched in 1995. VCTs' biggest fundraising year was 2005-2006, when they saw inflows of £779m. In total, the vehicles have raised £3.9bn since launch. Ian Sayers, the AIC's director general, says this capital raising will be beneficial to VCTs in an environment of constrained bank lending. "This year's impressive fundraising will increase VCTs' capacity to support companies which find it difficult to raise development capital," he says. "It is particularly val...