Blackfinch Spring VCT launches £30m subscription offer

£10m over-allotment facility

The Blackfinch Spring VCT has launched a subscription offer for up to £20m, with an over-allotment facility of up to a further £10m.

Funds raised will be invested in growth-stage technology-enabled firms, focused on those firms that have already raised funding, gained traction and aim to accelerate the scale-up process. Companies in the £25.4m portfolio, which is comprised of 23 private firms, use the internet, mobile devices and social media to offer their customers better products and services, and have the potential for higher returns at exit. Nicholas Hyett, investment manager at Wealth Club, said Blackfinch Spring, which targets an annual dividend of 5% of net asset value, is "among the most successful of a ne...