Albion Capital, the leading independent investment manager, has closed its 2020/2021 VCT top up offers earlier than scheduled and fully subscribed with strong support from both existing and new shareholders.
Five trusts in Albion’s VCT range launched combined fundraising offers of £45m in January. All announced, and subsequently filled, overallotment facilities totalling £13.5m, in response to record investor demand. The successful fundraising increases Albion’s VCT funds under management to £500m across six VCTs, now supporting the growth ambitions of some 65 businesses.
Investors have responded to the opportunity the Albion VCTs provide to gain exposure to high growth software and healthcare companies that have demonstrated resilience through COVID-19, with exciting future prospects. The Albion VCTs offer access to the businesses that are thriving and creating employment despite the current economic downturn – cybersecurity, fintech, digital health, data analytics – and will be leading contributors to the UK economic recovery in a post-pandemic world.
Albion’s VCT range has also attracted money from younger investors, as financial advisers and wealth managers see increasing demand from their clients to invest in nascent companies that will be the winners of the future. These investors also recognise the opportunity that VCTs offer to support companies driving progress and meaningful positive social impact in the world, aligning with an increasing focus on ESG.
Will Fraser-Allen, Managing Partner, Albion Capital said,“VCTs provide investors with tax efficient, long-term exposure to some of the most exciting and dynamic businesses in the UK. These pioneering health and technology companies are at the forefront of innovation and have the potential to deliver attractive returns uncorrelated to the performance of the wider economy and traditional asset classes.
“Technology advances and healthcare breakthroughs impact all our lives and investors are responding to the opportunity to support businesses which are increasingly relevant to them and making a clear and obvious positive contribution to the world. We are very proud to have completed another successful fundraise and look forward to working with the exceptional entrepreneurs whose ideas and endeavours will be so important to kick-starting the UK’s economic recovery.”