The Guinness VCT has launched an offer for up to £15 million (£10 million + £5 million overallotment).
The VCT has total net assets of £10.3 million and a portfolio of 21 companies.
The VCT focuses on businesses with sales of more than £1 million a year at the point of investment, which is at the more mature end of the spectrum.
The VCT hopes to pay a dividend equal to 5% of NAV from 2026.
Nicholas Hyett, Investment Manager at Wealth Club said, “Guinness VCT is a comparatively young VCT but has already landed a partial exit from Plotbox, one of its largest investments.
£”The company specialises in providing management software to cemeteries – a niche market but with little competition and plenty of opportunity, especially in the US – and attracted funding from a US private equity firm earlier this year.
Some early success shouldn’t be a surprise given Guinness tends to back slightly more mature businesses. It’s average portfolio company reported revenues of £5.2 million at the point of investment, and investing at this later stage means exits could potentially come sooner.
The sale of part of its stake in Plotbox has seen the manager announce plans to begin paying dividends from next financial year, sooner than might be expected for such a young VCT.”
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