Investor Seneca Growth Capital VCT will shortly launch its plans to raise \u00a310m as it prepares for an expected increase in the number of businesses seeking investment to support their growth plans.<\/p>\n
It has already raised \u00a37.2m since it launched its B share class in 2018 and it wants to “continue to increase the number and diversity of investments” in that share pool.<\/p>\n
The Haydock-based investment firm is upbeat after some good results in a volatile market.<\/p>\n
Chairman John Hustler said: “Despite the unprecedented economic climate and general turmoil of financial markets occasioned by the Covid-19 pandemic, I am encouraged that the NAVs of both the Ordinary and B share portfolios have remained relatively stable.”<\/p>\n
The Net Asset Value (NAV) per ordinary share reduced from 30.4p to 30.2p during the period and the NAV per B share reduced from 93.1p to 89.3p.<\/p>\n
It realised the majority of its investment in Omega Diagnostics after the company’s share price showed significant gains when it revealed its involvement in a partnership to develop a Covid-19 antibody test.<\/p>\n
It made a profit over the original cost of its investment of \u00a3420,000 while it retains shares worth \u00a3270,000.<\/p>\n
The diversification of Seneca’s B share portfolio was increased by four new investments.<\/p>\n
Again it was healthcare stocks that performed strongly and it has already sold its investment in Genedrive, achieving a two times cash return and delivering a profit of \u00a3136,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
It is preparing for an expected increase in firms seeking investment for growth plans<\/p>\n","protected":false},"author":18,"featured_media":2034143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"coauthors":[81],"class_list":["post-2064084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-top-story"],"yoast_head":"\n