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The views and opinions expressed herein are those of the authors and do not necessarily reflect the views of LightTower Partners and its affiliates or employees. The information set forth herein has been obtained or derived from sources believed by the authors to be reliable. LightTower Partners does not make any representation or warranty, express or implied, as to the information's accuracy or completeness, nor does the author recommend that the attached information serve as the basis of any investment decision and it has been provided to you solely for informational purposes only and does not constitute an offer or solicitation of an offer, or any advice or recommendation, to purchase any securities or other financial instruments, and may not be construed as such.

Category: Uncategorised

26 Jun 2024

Maven VCTs complete exit from Quorum Cyber, delivers total return of 8.2x

The Maven VCTs have completed a final exit from Quorum Cyber, which was originally sold to a mid-market Private Equity buyer in 2021, generating an initial return of 6.5x cost. Crucially, the Maven VCTs retained an economic interest in the Quorum business alongside the new owners and have now realised this remaining holding following a […]

The Maven VCTs have completed a final exit from Quorum Cyber, which was originally sold to a mid-market Private Equity buyer in 2021, generating an initial return of 6.5x cost.

Crucially, the Maven VCTs retained an economic interest in the Quorum business alongside the new owners and have now realised this remaining holding following a strategic investment by Charlesbank Capital Partners, a US private equity firm. This latest transaction has delivered an aggregate return of 8.2x for shareholders.

“We are delighted with the return for our investors, which highlights the excellent work by the Quorum Cyber management team in strengthening their relationship with Microsoft, entering new markets, growing the team, and enhancing their service offering.”

David Milroy, Partner at Maven

Find out more about the Maven VCTs here

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20 Jun 2024

Pembroke VCT announces intention to launch

The directors of Pembroke VCT plc are pleased to announce their intention to launch a new offer for subscription (the “Offer”) of new B Ordinary Shares in the 2024/2025 and 2025/2026 tax years. The prospectus with full details of the Offer is expected to be published in September 2024.

The directors of Pembroke VCT plc are pleased to announce their intention to launch a new offer for subscription (the “Offer”) of new B Ordinary Shares in the 2024/2025 and 2025/2026 tax years.

The prospectus with full details of the Offer is expected to be published in September 2024.

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18 Jun 2024

Maven VCTs announce intention to launch

Maven have confirmed that the four VCTs have announced their intention to launch new joint Offers for subscription, looking to raise up to £40 million in total (incl. aggregate overallotment facilities of up to £20 million). A prospectus with full details of the Offers is expected to be published in Autumn 2024.

Maven have confirmed that the four VCTs have announced their intention to launch new joint Offers for subscription, looking to raise up to £40 million in total (incl. aggregate overallotment facilities of up to £20 million).

A prospectus with full details of the Offers is expected to be published in Autumn 2024.

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13 Jun 2024

Maven VCTs complete 1.7x exit from GradTouch

Maven has completed an exit from GradTouch to London private equity firm, Pelican Capital. The sale of the Manchester based technology platform for graduate employers has generated a return of up to 1.7x for Maven client funds. Maven first invested in the business in December 2017 through NPIF Maven Equity Finance, with the Maven VCTs providing its support […]

Maven has completed an exit from GradTouch to London private equity firm, Pelican Capital.

The sale of the Manchester based technology platform for graduate employers has generated a return of up to 1.7x for Maven client funds. Maven first invested in the business in December 2017 through NPIF Maven Equity Finance, with the Maven VCTs providing its support in 2019 following the achievement of key commercial milestones.

The sale to Pelican Capital will enable the business the continue its impressive growth to date, supporting an ambitious buy and build strategy to further expand its brand portfolio of innovative businesses focused on transforming the early career development space.

“The backing we have received from Maven has been instrumental in the expansion of GradTouch. Their strategic guidance and financial support have proved valuable in fuelling our growth and we are now in a strong position to embark on a new chapter.” 

Zac Williams, CEO at GradTouch

 

Find out more about the Maven VCTs here

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23 May 2024

Unicorn AIM VCT announces 3p interim dividend

The Unicorn AIM VCT has recently announced an interim dividend of 3.0p per share. This will be paid on 13 August 2024 to shareholders who were on the register from 12 July 2024.   This is following the recent special dividend of 11.7p per share stemming from the successful exit of Abcam after their acquisition by Danaher Corporation at the end of […]

The Unicorn AIM VCT has recently announced an interim dividend of 3.0p per share. This will be paid on 13 August 2024 to shareholders who were on the register from 12 July 2024.

 

This is following the recent special dividend of 11.7p per share stemming from the successful exit of Abcam after their acquisition by Danaher Corporation at the end of last year. These interim dividends solidify Unicorn‘s dedication to delivering value to their shareholders.

 

Further details can be found in the VCT’s half-yearly report that has just been published on the London Stock Exchange.

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28 Mar 2024

Pembroke VCT declares dividends

Pembroke VCT has announced an interim dividend of 2p per share to be paid on 23 April 2024.   All new applications for the current offer received by 18 March 2024 will qualify for the dividend. Read the full RNS announcement here. As well as the announced 2p dividend for the 2025 financial year, Pembroke VCT has also paid 27p per share […]

Pembroke VCT has announced an interim dividend of 2p per share to be paid on 23 April 2024.  

All new applications for the current offer received by 18 March 2024 will qualify for the dividend. Read the full RNS announcement here.

As well as the announced 2p dividend for the 2025 financial year, Pembroke VCT has also paid 27p per share over the previous 5 financial years.
Pembroke VCT pays tax free dividends, having paid out at least 5p per year in each of the last 4 years. One in four of its portfolio companies are individually valued at £50 million or more.

Pembroke Offer now half full

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28 Mar 2024

Maven VCT’s trigger over-allotment facilities

There is limited time remaining for your clients to invest in Maven VCTs’ joint Offers. With only 1 week to go until tax year end, the deadline for receipt of applications and cleared funds for allotment in the 2023/24 tax year is 9am on Friday 5 April 2024. Due to ongoing investor demand, after surpassing the initial £20m target, the […]

There is limited time remaining for your clients to invest in Maven VCTs’ joint Offers. With only 1 week to go until tax year end, the deadline for receipt of applications and cleared funds for allotment in the 2023/24 tax year is 9am on Friday 5 April 2024.

Due to ongoing investor demand, after surpassing the initial £20m target, the Maven VCTs have announced the use of their over-allotment facilities. There is now remaining capacity in all VCTs, as the Maven VCTs can accept further applications up to an increased £30m capacity.

  • Applicants or their advisers are able to use a single application to invest in any or all of the VCTs for both the 2023/24 and 2024/25 tax years, and can also apply quickly and conveniently online.

The terms and conditions of the offer are set out in the Securities Note.

About Maven Capital Partners

  • Manage c.£691 million* in aggregate, including funds, on behalf of the four VCTs and other private equity and property assets
  • One of the most active managers in the VCT industry, with 41 new private company investments completed since January 2020¹
  • Four established VCT portfolios of c.60 private companies each, broadly diversified by sector and geography, plus an AIM portfolio of 20 – 40² companies per VCT
  • History of regular tax-free dividend payments, and a target 5% dividend yield

 

 

 

 

Maven VCTs are intended for UK taxpayers aged 18 or over with an investment horizon of five or more years and who are able to bear up to 100% capital loss and with a medium to high risk tolerance. Investors in Maven VCT will generally be informed investors with either experience in investing in VCTs or with a knowledge and understanding of the risks involved.

Sources: Maven Capital Partners. *As at 31/12/2023 (Value of assets managed by Maven Capital Partners and Maven Property Investment Limited). ¹As at 01/01/2024. ²As at the most recently published accounts. ³Average dividend payments over past five full financial years as at 01/01/2024. 4Based on dividends paid or declared for most recent financial year, and previous year-end NAV per share. The payment of dividends is not guaranteed, and historical levels are no indication or forecast of likely future dividend levels. The quantum and timing of dividends are likely to be closely linked to portfolio realisations.

Past performance is not a guide to future performance; the value of an investment and income from it can go down as well as up. Your capital is at risk. 

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19 Mar 2024

Maven Capital Partners’ Ewan MacKinnon reveals growth opportunities in vibrant UK sectors

The interview explores Maven Capital Partners’ Ewan MacKinnon’s insights on investment opportunities and risks across different sectors for investors.

The interview explores Maven Capital Partners’ Ewan MacKinnon’s insights on investment opportunities and risks across different sectors for investors.

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18 Oct 2018

LightTower Partners at PA360 North: ‘Meet VCT managers and look into their eyes’

Advisers wanting to invest in VCTs for clients need to look past due diligence forms and meet fund managers in person to dig deeper into the detail, Jack Rose told delegates at the PA360 North conference. Click here to read the full article. For further information on the range of tax efficient products we distribute, […]

Advisers wanting to invest in VCTs for clients need to look past due diligence forms and meet fund managers in person to dig deeper into the detail, Jack Rose told delegates at the PA360 North conference. Click here to read the full article.

For further information on the range of tax efficient products we distribute, please click here.

If you have any question please send us an email or call us on 020 7071 3920.

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9 Oct 2018

Jack Rose: VCT and EIS investors are living in interesting times

LightTower Partners’ Head of Tax- efficient products, Jack Rose, considers the current dichotomy in the tax-advantaged sector – despite the overwhelming availability of EIS there is actually a reduction in demand from advisers, while VCTs now face the opposite issue. Click here to read the full article. For further information on the range of tax […]

LightTower Partners’ Head of Tax- efficient products, Jack Rose, considers the current dichotomy in the tax-advantaged sector – despite the overwhelming availability of EIS there is actually a reduction in demand from advisers, while VCTs now face the opposite issue.

Click here to read the full article.

For further information on the range of tax efficient product we distribute please click here, or send us an email or give us a call on 020 7071 3920.

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24 Sep 2018

Conference Call with Pembroke VCT’s Andrew Wolfson

We recently hosted a conference call with Pembroke VCT’s  Managing Director Andrew Wolfson. Click here to listen to the recording. For more information on the Pembroke VCT please click here or call 020 7071 3920.

We recently hosted a conference call with Pembroke VCT’s  Managing Director Andrew Wolfson.

Click here to listen to the recording.

For more information on the Pembroke VCT please click here or call 020 7071 3920.

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13 Sep 2018

Maven Income & Growth VCT Shortlisted for Investment Company of the Year Award

We are pleased to announce that Maven Income & Growth VCT has been shortlisted for the Investment Week Investment Company of the Year Awards 2018.  These awards highlight investment companies that produce consistent performance and where there is, in the judges’ opinion, a high likelihood that the investors will not be disappointed in the future. Click […]

We are pleased to announce that Maven Income & Growth VCT has been shortlisted for the Investment Week Investment Company of the Year Awards 2018. 

These awards highlight investment companies that produce consistent performance and where there is, in the judges’ opinion, a high likelihood that the investors will not be disappointed in the future.

Click here to read the full article.

For more information on the VCT and the current Offer, please send us an email or call us on 020 7071 3920.

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Please do not hesitate to get in touch for further information on LightTower Partners or on the investment products we distribute.

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