The number of venture capital trusts (VCT) raising capital in the 2016-17 tax year dropped to a 10-year low, according to latest data from HM Revenue & Customs (HMRC).
The number of active fundraisers dropped from 45 to 38 in the last year, despite the sector seeing the second-highest fundraise in its 22-year history, with funds hauling in £570m in 2016/17. The association of investment companies had estimated the figure to be £542m. The drop is also accompanied by a 6% fall in VCTs managing funds, from 80 in 2015-16 to 75. HMRC said: "In the past, the amount of funds raised by VCTs and the number of VCTs raising funds has been closely linked. However, this has been less evident in recent years where similar amounts of funds have been raised by a sm...
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