Fund and VCT withdrawn

Pinder, Fry & Benjamin, which was managing the Venture Technologies University Partners Fund, has been forced to withdraw the fund and the associated Venture Technologies Academic Research Partners VCT. The lead investor in the Fund, who had committed £10m, decided not to invest, citing market conditions. Given the fact that Fund and VCT had been designed to invest in parallel in commercial opportunities arising from research at four UK universities, it was decided that the VCT must also be withdrawn. Academic Research Partners is not the only VCT in recent weeks to have been pulled. Harvest and Seymour Pierce both withdrew their VCT offerings following insufficient investor interest.

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• UK / Ireland