UK - Shore Capital completes VCT fundraising

Together with the two Puma VCTs raised in 2005, Shore Capital now has approximately £60m in VCTs and is able to invest up to £4m in any single qualifying VCT company.

The PUMA VCTs have a clearly defined five year life, with a target to double the net investment in 5 years, giving a return of 15% p.a. tax free. Shore Capital has extensive experience as a small cap/ VC fund manager (Puma Growth Capital Funds), AIM broker and market-maker, and is ideally placed to identify suitable investments. Qualifying investments will primarily be in relatively low risk small UK companies: AIM, Ofex or private companies.

Shore Capital’s existing VCTs, Puma and Puma II, have made four qualifying investments so far. Their NAV per share as at 28 February 2006 averaged 107.2p (initial NAV was 98p), equivalent to a composite annualised internal rate of return of approximately 10%.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland