Hargreaves Lansdown has added five new firms to its online venture capital trust (VCT) service, more than doubling the total to eight firms.
These firms are bringing an additional nine VCTs to its offering, taking the total to 14.
The additions are; Beringea with its ProVen VCT, ProVen Growth and Income VCT, Puma Investments with the Puma AIM VCT, Puma Alpha VCT and Puma VCT 13, Guinness Ventures bringing the Guinness VCT, Praetura Investments with the Praetura Growth VCT, and finally Fuel Ventures with its self-titled VCT.
The partners already with the service are Octopus Investments, Blackfinch Ventures and Calculus VCT.
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The investment platform noted that since introduction in 1995, VCTs have generated £41bn of investment and the government recently confirmed its commitment to VCTs by extending the scheme to 2035.
Emma Wall, head of platform investments at Hargreaves Lansdown, said: “HL’s VCT online service aims to help boost investment in the early stages of dynamic, entrepreneurial UK companies that are a vital area of the UK economy and help more people from across the UK make their money work harder for them.
“We’re delighted to have broadened our client offering by welcoming four new VCT partners to our online service.
“As public markets continue to be unsettled this year, investments in private companies through VCTs can bring long-term growth and diversifying opportunities for investors. VCTs are great way for people to invest their money in a tax-efficient way before the tax year ends.”
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