NVT and N2VCT .
12 February 2013
Northern VCTs' share offers fully subscribed in less than two weeks
Northern Venture Trust and Northern 2 VCT – Venture Capital Trusts managed by NVM Private Equity – launched linked top-up offers of new ordinary shares on 10 January 2013 to raise up to £4 million for each fund. Both offers were fully subscribed by 22 January – some ten weeks before the end of the current tax year.
Tim Levett, Chairman of NVM Private Equity, said:
“There was overwhelming demand for our share offers. Northern Venture Trust sold out eight days after we launched and Northern 2 VCT four days thereafter. This demonstrates the strong market demand for VCTs with a consistent track record of returns and a mature portfolio of private equity investments. The latest fundraising will provide additional funds for investment into small-to-medium sized businesses with high growth potential. We are currently considering plans for another VCT share offer for the 2013/14 tax year.”
Notes to editors:
To view the press release issued on 10 January 2013 click here
NVM Private Equity Limited (NVM)
is independently owned with over 28 years’ experience of investing in unquoted UK businesses. NVM is a generalist investor, managing over £220m of funds, and is differentiated by having executives living and working in regional business communities throughout the UK. NVM seeks investment opportunities in UK businesses which have the right mix of growth potential and market vision. They may be looking to grow organically, acquire another business or secure a management buy-out. Typically, NVM looks to invest between £2m and £10m in each transaction. www.nvm.co.uk
For further information please contact:
- Tim Levett (Chairman) – 0118 951 7010
- Liberty Bollen (NVM: PR & Marketing) – 0118 951 7017