VCT Investor Seminar

VCT Investor

Our 7th annual VCT Investor Seminar took place on 28 November 2014 in London. 

The highlights of the day are detailed below. To view the full presentation, please click below.

If you would like information about future seminars, or have a shareholder query, please contact Wendy Arkle.

Website imagery for Website

Investment review

During the seminar, Martin Green of NVM brought VCT investors up-to-date with recent investment and portfolio activity. Over the last 12 months the Northern VCTs have sold two portfolio companies, generating £14.4m, and invested a total of £26m in six new investments.

Buoyant Upholstery

Joel Rosenblatt (Chairman of Buoyant Upholstery) and Andy Leach of NVM updated investors on what has happened at Buoyant since we invested in 2013.  The business currently produces 95,000 sofas a year for a growing upholstered furniture market.

VCT market review

VCT consultant, David Cartwright, offered an interesting overview of the VCT market. He reported that total VCT funds under management as at 5 April 2014 was at its highest ever level.

Regulatory update

Alastair Conn of NVM updated investors on regulatory developments in the VCT market to include:

  • Treasury/HMRC’s review of tax-advantage venture capital schemes
  • Enhanced share buy-backs
  • Returns of capital
  • Alternative Investment Fund Managers Directive
  • Corporate governance update
  • Abolition of interim management statements
  • Proposed new Statement of Recommended Practice for VCT accounts

Alaric Systems

Alaric Systems is a leading player in payments and fraud software products in 25 countries. The founders, Mike Alford and Peter Parke, took investors on a journey from the ‘duckling’ stage of  investment in 2000 through to the ‘swan stage’ leading up to the successful exit in 2013.

Fund performance

Tim Levett of NVM, offered a detailed review of the long-term performance of Northern Venture Trust, Northern 2 VCT and Northern 3 VCT. He finished by updating investors on the new aspects of our website, such as the dividends section, up-to-date fund performance page and option to sign-up to e-communications.

The seminar closed with an interesting question and answer session before investors were given the opportunity to chat to our team over a buffet lunch and drinks.