Octopus launches £25m Titan VCT 4 fund

30 November 2009

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Fund

Octopus Investments has announced the launch of Octopus Titan VCT 4, a new vehicle designed to invest in early stage UK companies with a target of £25m. The minimum subscription for the fund is £3,000. Terms and conditions are industry standard with management fees at 2% and performance fees at 20%. Howard Kennedy provided legal advice to the fund.

Investors

A typical investor is a UK income tax payer over 18 years of age with an investment range of between £3,000 and £200,000. This could include retail and institutional investors, as well as high-net-worth individuals who already have a portfolio of non-VCT investments. As with all VCTs, investors in the fund will receive a 30% upfront income tax relief on their investments, provided they hold the shares for five years.

Investments

The fund will focus on providing early stage, development and expansion funding to unquoted companies in the UK. Octopus Titan VCT 4 expects to invest in 20-30 companies over the life of the fund, with the typical deal size between £200,000 to £1m. There is no sector preference for investments, as Octopus invests in businesses across all industry sectors where it believes there is potential for significant capital growth. The vehicle is open to co-investments.

People

The Octopus Titan VCT 4 team includes Alex Macpherson, Alan Wallace, Luke Hakes, Jo Oliver and Alliott Cole. The team is supported by wider Octopus Ventures team, the Octopus Investor Group, which is made up of more than 100 entrepreneurs and business people, who provide support and guidance to the portfolio companies and co-invest their own money alongside Octopus Titan VCTs.

Fund: Octopus Titan VCT 4

Target: £25m

Focus: Early-stage, Development capital, UK

Contact: Alex Macpherson

Address: Octopus Investments, 8 Angel Court, London, EC2R 7HP, UK

Tel: 0800 316 2349

Advisers: Howard Kennedy (Legal).