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Albion Capital launches £60m VCT fundraise

Move follows £80m fundraise last year

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The venture capital trust (VCT) manager Albion Capital has launched a fundraise of up to £60m through top up offers across five of its six VCTs.

Following a fundraise of £80m last year, the new offer seeks to raise £14.5m for the Albion Development VCT, £15.75m for the Albion Enterprise VCT, £11.75m for the Albion Technology & General VCT, £7.5m for the Crown Place VCT and £10.5m for the Kings Arm Yard VCT.

Will Fraser-Allen, managing partner at Albion Capital, said the fundraise will be used to invest in new UK opportunities, while also driving growth from companies within the existing Albion portfolio.

See also: Triple Point extends offer on its VCT

“Having invested in 45 companies and generated £140m from exits over the past three years, Albion’s latest fundraise demonstrates our ongoing commitment to backing British entrepreneurs,” he said.

He added: “We see plenty of investment opportunities in new growth areas that can flourish despite a high interest rate environment, such as data and artificial intelligence. We aim to continue providing a patient source of capital to UK companies who are leading this growth.”

Minimum investment for each of the VCTs is £5,000, with an initial charge of 3%.

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