Mercia Asset Management’s three Northern venture capital trusts have launched an offer to raise up to £60m.
The trusts - Northern VCT, Northern 2 and Northern 3 - are looking to raise £42m with an overallotment option of £18m, for a total of £60m. Octopus Investments launches joint £20m fundraise for two AIM VCTs The three VCTs have combined net assets of £343m and a portfolio comprising around 62 companies. According to Nicholas Hyett, investment manager at Wealth Club, the fundraise was due to the Northern VCTs achieving a "raft of exits", with proceeds of more than £154.6m in around two years. He added: "Exiting more mature businesses leaves behind a portfolio that is younger on av...
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