Octopus Titan VCT raises record £120m ahead of tax year end

Pension reforms continue to drive demand

Octopus Investments has announced its Titan Venture Capital Trust (VCT) has achieved its largest ever fundraise, bringing in a record-breaking £120m, well before the end of the 2016/17 tax year.

The news follows recently released figures from the Association of Investment Companies (AIC) which showed VCT fundraising had increased by almost 50% between the start of the 2016/17 financial year and 17 February 2017. Fundraising during this period for the sector amounted to £265m, which the industry body said reflected a strong rise in investor demand, following changes to pension rules, including the reduction in the lifetime allowance and low interest rates. Octopus Investments added this is further evidence of the growth in investor demand for VCTs and the transition of VCTs to...