Puma VCT 13 has become the latest VCT to launch a fresh fundraise.
It has announced an offer for £50m plus a £20m over-allotment. The VCT has total net assets of £118.6m and a portfolio of 20 companies.
Over the five years to June 2024 the VCT delivered a NAV total return of 62.7%. It targets a dividend of 5p per share on average, but there has been substantial variation.
The news follows the launch of a £30m raise by Octopus earlier this week.
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Nicholas Hyett, investment manager at Wealth Club, said: “Since launching in 2018 Puma VCT 13 has matured into a reasonably well diversified and strong performing portfolio of businesses.
“It targets companies at the more mature end of the spectrum, typically reporting revenues of £2m or more, and that has served it well in a tough market for earlier stage or more speculative venture investments.
“The VCT has started to see exits, supporting its first dividends, while several other holdings are showing substantial mark-ups in value, notably social media marketing platform Influencer which is held at more than ten times cost,” he continued.
“For investors that typically back the same VCTs year-in year-out, Puma 13 could be a welcome addition to the portfolio.”
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