Two new EIS funds open amid sector demand

Tax-efficient investments, including Enterprise Investment Scheme (EIS) and venture capital trusts (VCTs), have been filling rapidly this tax year with some fundraising efforts doing so in record times - for example, Northern Venture Trust's VCT top-up managed to hit its £4.3m fundraising capacity in just two days.  LGBR Capital head of tax products Jack Rose has attributed the surge in sector demand to VCT rule changes, which mean management buy-out strategies are now ruled out and EIS and VCT investee companies must be be no more than seven years old. He said this has restricted the ab...