Venture capital trust Enterprise is to extend its share offer, which began on 9 November, into the N...
Venture capital trust Enterprise is to extend its share offer, which began on 9 November, into the New Year. The offer period was originally due to close on 12 December
However, according to fund manager John Gregory, the period will now be extended to tap into the pre-April investment rush.
Just under £5m has been raised since 9 November, but the original target for the fundraising was £20m.
Gregory said: "Over the course of the year about £80m has been invested in the VCT sector that's before the rush that occurs towards the end of the tax year.
"Demand is clearly very strong in the sector, however we have learned that supply is also quite substantial."
Enterprise VCT invests primarily in unlisted companies, and the new money, said Gregory, would be invested in two sectors. The first is technology companies with a bias towards healthcare. Gregory said: "In both sectors we will be looking to invest in companies that can be described as 'enablers' providing a core service or product.
"We already hold companies that fit this description, such as Deltex which listed on Easdaq this year. This is a company which produces a non-invasive heart bloodflow monitor."
Other technology-related healthcare areas will include biotechnology, diagnostics and medical instruments. The other main focus will be on software development. Gregory said the key elements would be specialist telecoms, in particular those that provide their larger counterparts with support.
Due to their niche status, Gregory believes these companies will not be affected by the problems that have afflicted the wider telecoms market.
Companies such as Surf Control, the internet censoring system, would also be included in the portfolio, again providing 'enabling' technology to larger companies in the same sector.
Enterprise VCT has mid-to-mid share price returns of 171.6% for the three years to 29 November 2000, ranking it 4 out of 21 trusts in the Venture and Development Capital sector.
Annuity market worth £4bn in 2017
For ‘distress’ caused
Oversees £30bn of advised and D2C assets
Less than a third of top paid employees are women
£1bn business since inception