Isis and Downing seeking to raise cash

Downing Corporate Finance and Isis have launched asset raising exercises for existing venture capital trusts. Isis is seeking £14m for its generalist Baronsmead VCT, while Downing is hoping to raise £10m for its Pennine AIM VCT, managed by Rathbone Investment Management. The Baronsmead VCT has a minimum investment of £3,000 into the offer of C shares. It said the issue would allow the VCT's portfolio to be broadened to around 50 holdings when valuations are attractive. Investors can make subscriptions into the 2002/03 and 2003/04 issues until 3 April and 23 May respectively. Minimum i...