Key Facts

Key Facts .

October 1984

Northern Investors Company Limited (NIC) is established in Newcastle upon Tyne as a self-managed investment company with capital of £5m

October 1988

NIC executives set up NVM Private Equity Limited (NVM) as an independent venture capital management company with a contract to manage NIC’s investments

February 1989

NVM raises a new £15m, 10-year limited partnership, Northern Venture Partnership Fund (NVPF), to invest alongside NIC

August 1989

NVM opens Edinburgh office

April 1990

NIC becomes a public company, raises £2m through a rights issue and is listed as an investment trust on the London Stock Exchange with an opening share price of 200p

February 1995

NVPF’s funds are fully committed and it ceases to make new investments

October 1995

Northern Venture Trust PLC (NVT) is floated as a Venture Capital Trust under the 1995 Finance Act rules and raises £15m through a public share offer

April 1997

NVT’s second public share offer raises £20m

July 1997

NIC net asset value per share reaches 500p

September 1997

100th investment since 1984 completed

July 1999

Northern 2 VCT PLC raises £21m through a public share offer

June 2000

NVM joins the Edinburgh Fund Managers group and manages venture capital funds totalling over £90m

September 2000

NVM opens Reading office

December 2000

Northern AIM VCT raises £22m through a public share issue

January 2001

NIC completes £10m open offer and placing

June 2001

Northern 2 VCT raises £22m through a top-up share issue

September 2001

NVM launches a new generalist VCT – Northern 3 VCT PLC

December 2003

NVM completes buyout from Aberdeen Group

March 2005

Northern Venture Trust is extended until 2010 and launches 10% tender offer to shareholders

April 2005

Northern 3 VCT raises over £10m in share issues in 2004/05 tax year

April 2006

Northern Venture Trust raises £20m through a C share issue in 2005/2006 tax year

April 2006

Northern 2 VCT raises £6m through a top-up share issue in 2005/2006 tax year

January 2007

Northern Venture Managers Limited re-brands to become NVM Private Equity Limited

April 2008

Northern 2 VCT raises £9.5m through a top-up share issue

May 2010

Northern 3 VCT raises £12.7m through share issues in 2009/10 and 2010/11 tax years

February 2011

Northern Venture Trust PLC raises £15m through a top-up share issue in 2010/2011 and 2011/12 tax years

March 2011

Northern 2 VCT PLC and Northern 3 VCT PLC raise £3.15m through a linked top-up share issue in 2010/2011 tax year

February 2012

Northern 2 VCT PLC raises £15m through a top-up share issue in 2011/12 and 2012/13 tax years

March 2012

Northern 3 VCT PLC raises a total of £3.6m through two top-up share issues in 2011/12 tax year

November 2013

Northern Venture Trust, Northern 2 VCT and Northern 3 VCT raise a total of £50m through a joint share issue in 2013/14 tax year

February 2015

NVM Private Equity Limited changes to a Limited Liability Partnership (LLP)