Praetura raises £3m for Venture Capital Trust

Sam McArthur, Praetura Growth VCT

Praetura Investments, the Manchester-based alternative asset manager, is still inviting subscriptions to its Growth VCT having raised the required £3m to launch.

The VCT, open for investors until the end of May 2024, is designed to back scale-up businesses in the North of England and has been launched to give financial advisers an option for high net worth clients looking for access to alternative investments.

It is pitching to investors that they will have a regular annual dividend from 2027 as well as special dividends from the proceeds of completed exits of portfolio companies primarily based in the North of England.

The fund will be managed by Praetura Ventures, the venture capital arm of the group and will be able to co-invest alongside the established Praetura EIS Growth Fund.

The news follows a strong period of growth for Praetura Investments. This includes adding 12 new specialists to its team over the last twelve months, demonstrating its commitment to supporting its financial adviser and investor base with VCT, EIS and Business Relief qualifying offers.

Sam McArthur, partner at Praetura Investments, said: “After 13 years of successful investing in EIS-qualifying companies, the launch of Praetura Growth VCT was largely driven by demand from financial advisers looking for another way to access alternative investments with Praetura.

“A new VCT is extremely rare, with very few launched over the last decade. The launch underlines the strength of our differentiated proposition with a focus of investing in scale-up companies in the North of England where their is a significant opportunity for investors. The VCT market has been challenging this year following the increases to pension allowances, making our successful fundraise a noteworthy achievement.”

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