Maven VCTs seek £40m in latest share subscription offer

£10m fundraise for each VCT

Maven Capital Partners has launched a new offer for subscription for four of its venture capital trusts, seeking to raise a total of £40m.

The firm intends to raise up to £10m for each VCT, including an over-allotment of up to £5m each for Maven VCTs 3 and 4. The four VCTs, launched between 2000 and 2004, each have a portfolio composed of more than 90 UK companies. The trusts aim to deliver an annual tax-free dividend yield of 5% of net asset value, while allowing investors to benefit from up to 30% income tax relief.  Seneca Growth Capital VCT launches new £10m B share offer Ewan MacKinnon, partner at Maven, said: "VCTs are playing an ever-more important role in supporting the growth and success of ambitious young bu...