Northern VT launches £60m VCT fundraise

Existing investors given three-week head start

Northern Venture Trust has opened a targeted £60m fundraise across three of its venture capital trusts (VCTs).

The firm has given priority to existing shareholders, who have three weeks to invest before the offer extends to new investors. Northern VCTs have a "diverse portfolio" of 34 unquoted companies and are predominantly made up of management buy-outs, the firm said. Northern also claimed to have topped sector performance tables over the last one, three and 10 years on a net asset value total return basis. It said £1 invested ten years ago in the Northern Venture Trust should now be worth £2.67 - assuming dividends were invested and the 30% VCT tax relief was capitalised. "With this ...