Octopus Investments breaks £1 billion barrier of VCT assets under management
Octopus Investments Limited, which manages the Octopus Titan, Octopus AIM/AIM 2 and Octopus Apollo venture capital trusts ("VCTs") has recently broken the £1 billion barrier of VCT assets under management, following the first allotment by Octopus Titan VCT plc under its offer for subscription to raise up to £120 million, with an £80 million over-allotment facility, that was launched in September 2018.
VCTs were introduced by the UK Government in 1995 to encourage individuals to invest in UK smaller companies. According to the Association of Investment Companies, almost £728 million was invested in VCTs in the 2017/18 tax year, almost a third of which was invested in the Octopus VCTs.
Keith Lassman, head of the Capital Markets Team at Howard Kennedy, which acts as legal adviser and sponsor to the Octopus VCTs, said:
We are delighted to have been working with Octopus in recent years. The progress it has made in the VCT sector since its formation in 2000, to its present position of managing over £1 billion of VCT assets, more than double that of any other VCT manager, has been remarkable and we congratulate Octopus on reaching this milestone and look forward to seeing its continued progress.
About Howard Kennedy
Howard Kennedy has 53 partners and numbers 350 people in total and works alongside national and international clients across many disciplines, including banking, corporate and commercial, family, finance, employment, dispute resolution, intellectual property, private client, real estate and tax. Howard Kennedy has particular focus on Energy, Entrepreneurs, Financial Services, Private Wealth, Real Estate, Retail & Leisure and Sports sectors.
Maitland, Public Relations firstname.lastname@example.org
Daryl Atkinson, Business Development & Marketing DirectorHoward KennedyDaryl.Atkinson@howardkennedy.com