The manager of the Unicorn AIM VCT said the fund is close to matching last year's total of £20m in cash raised from investors but said the company is not looking to raise any more funds "just for the sake of it".
The Unicorn AIM VCT has raised £15m to date, and the company has opted to utilise £5m of the available £10m over-allotment facility. The fund will remain open until June 2015 or until the over-allotment is fully subscribed. “We keep it simple,” said manager Chris Hutchinson. “The kind of money we are raising means that in the investment phase of the first three years, we need to source and invest in between 12 and 13 companies. So we always restrict the amount of money we raise. "Our board is truly independent of the manager and it will decide what’s right for the shareholder, not the...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
