Mobeus VCTs Raise £90 Million in Just 45 Days, Marking a Strong Start to VCT Season

London, UK – [October 2024] – Mobeus Venture Capital Trusts (VCTs) have achieved a remarkable fundraising milestone, selling out their latest offering in just 45 days. The two VCTs, Mobeus Income & Growth VCT and the Income & Growth VCT, collectively raised £90 million, including a £70 million offer and an additional £20 million through overallotments.
Wealth Club, a prominent investment platform, played a key role in the fundraising success, contributing £33.6 million, accounting for 37% of the total raise, from 1,277 clients. The swift and substantial fundraising highlights the continued appeal of VCTs, especially amid the current economic environment.
The manager behind the Mobeus VCTs invests across a broad spectrum of companies, from early-stage businesses with revenues of less than £500,000 to later-stage, profitable enterprises. This flexible investment approach has resulted in successful backing of companies such as Virgin Wines, Auction Technology Group (ATG), and photography reseller MPB. With total net assets of £338.5 million and a portfolio spanning around 50 companies, Mobeus remains a key player in fostering the growth of UK-based businesses.
“Despite a downturn in venture investing over the past couple of years, the VCT season has started strongly, with the Mobeus VCTs raising £90 million in just 45 days,” said Alex Davies, CEO and founder of Wealth Club. “More than a third of the funds came from our clients, showing the continued interest in VCTs. Overall, the market is up around 58% compared to this time last year.”
The strong demand for the Mobeus VCTs can be attributed not only to their consistent returns but also to the prospect of potential tax increases for wealthier individuals in the upcoming Budget. VCTs offer significant tax advantages, including up to 30% income tax relief on investments, with all growth and dividends being tax-free. Additionally, given the role VCTs play in creating jobs and driving economic growth, the UK government recently confirmed the continuation of the scheme until at least 2035, offering further confidence to investors.
While the Mobeus VCTs are now fully subscribed for the year, there are still several other VCTs available, with new ones launching soon. Investors are encouraged to act early to secure their spot in these high-demand offerings.
About Mobeus VCTs
Mobeus VCTs, listed on the London Stock Exchange, are managed by Mobeus Equity Partners and invest in a diversified portfolio of UK-based unquoted companies. Their investment strategy spans a wide range of industries, supporting innovative businesses at various stages of growth.