Close Venture Management raise £10m for new VCT

Close Venture Management (CVM) has now raised over £10m for its Close Income & Growth VCT. The VCT, which was launched by CVM in August 2004, intends to invest approximately 45% of the net funds raised in lower risk, ungeared, property-based businesses operating in the leisure sector. The balance of the net funds raised will be invested in high growth businesses across a variety of sectors of the UK economy. At the launch of the new VCT, an exclusive deal was announced whereby 10% of total funds raised are allocated to invest in engineering and technology spinouts from Brunel University.

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