Guinness Global Investors has launched its first venture capital trust through is growth company investing arm Guinness Ventures.
The firm has hit its minimum target fundraise and issued the first shares in Guinness VCT plc.
The shares will be admitted to the London Stock Exchange and the offering remains open for subscriptions. The application deadline for the 2022/2023 tax year is 3pm on 3 April 2023.
The firm said the VCT will provide investors with a balanced and diversified portfolio of investments into some of the UK’s “most exciting growth companies”.
The management team includes Shane Gallwey, Hugo Vaux, Malcolm King, Bridget Hallahane and Ashley Abrahams.
They will seek three key characteristics; strong management teams; exceptional growth prospects and strong competitive positions with unique attributes which make them difficult to replicate or substitute.
A range of sectors will be targeted including technology, education, ecommerce, healthcare, manufacturing, retail, leisure and food & drink. The focus is on companies that already have a proven product, service or technology, but are looking for funds to help them gain further traction in their respective markets.
The Guinness VCT may co-invest with Guinness EIS services. Guinness EIS is an active investor in over 40 private growth companies across 14 sectors. Up to 20% of the portfolio can be invested in AIM-listed companies.
Gallwey, head of ventures at the firm (pictured), commented: “A totally new VCT is extremely rare, with very few launched over the last decade and this new vehicle underlines the strength of our expertise in this area.”
“With greater clarity from the government over the future of VCTs, we believe this is an exciting time for retail investors to take advantage of the many benefits of a professionally managed, diversified portfolio.”