Matrix Money Management is to sponsor two VCT share top-ups in the autumn. The Foresight Technolog...
Matrix Money Management is to sponsor two VCT share top-ups in the autumn.
The Foresight Technology and Sitka Healthcare VCTs are looking to raise £3.5m and £12m respectively through 'C' share class offerings.
Foresight Technology, managed by VCF Partners, which also co-manages the Tri-Vest VCT, launched in November 1997, invests primarily in information technology, communications and technology-based manufacturing companies.
Most investments are made at the development stage and typically range between £1m-£2m, although the fund also supports management buyouts and acquisitions on a stock-specific basis. Foresight Technology is trading at a 33% discount to NAV.
Sitka Healthcare, managed by a team of five at Sitka, launched in February 2001 and invests in the UK healthcare sector. It targets stocks across the medical devices, diagnostics, healthcare services and drug discovery technology sub-sectors, typically investing between £300,000 and £1m in individual companies.
Holdings range from development-stage companies to those undertaking new share issuance on Aim or Ofex.
Bridget Cleverly, managing director of Matrix Money Management, said: 'Both fund managers are in areas of specialisation and are confident it is a good time for investors to access these VCTs.'
Matrix has raised funding for 12 VCTs in the past, including Foresight, Tri-Vest and Sitka.
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