The Octopus Titan VCT opened recently seeking to raise up to £250 million (£175 million + £75 million over allotment), the largest ever fundraising target of any VCT. Last year, it raised £200 million in a record four weeks. With net assets of £1.2 billion not only is Octopus Titan the largest VCT but also one of Europe’s largest Venture Capital funds.
It’s currently invested in 117 companies, including some of the UK’s fastest growing technology businesses such as pet insurer, Many Pets, British satellite launch company Orbital Express Launch, and digital clinic for substance addiction, Quit Genius. Investors can apply online through the Wealth Club website and get a better deal than going direct or through an adviser.
Commenting on the launch, Alex Davies, CEO and founder of Wealth Club, the largest broker of VCTs, says:
“At £1.2 billion of assets, Titan is the largest and one of the most exciting VCTs open to investors. It’s done exactly what VCTs are supposed to do: pump vast amounts of money into promising UK start-ups to help them grow. And that approach has paid off in spades for everyone involved. Companies such as Zoopla, the first VCT-backed company to reach a £1 billion valuation, Depop, the vintage fashion app which sold for $1.6 billion dollars and Many Pets, the pet insurer, currently valued at $2 billion – all got backing from Octopus Titan.
Investors have been handsomely rewarded too: over the past 10 years Octopus Titan has generated NAV total returns of 152%. That means a £2.52 return for every £1 invested.
And the economy as a whole has benefitted too. In the last year alone, companies backed by Octopus Titan created more than 350 new jobs and generated an extra £493 million of revenue. Encouragingly, 37% of the new investments also have a co-founder from an ethnic minority background.
Whether you’re a seasoned VCT investor or someone dipping their toes into VCTs for the first time, investing with a well-known name with a strong track record like Octopus could be a compelling option. This latest fundraise gives investors the opportunity to support some of the UK’s fastest growing companies, and in doing so benefit from a number of attractive tax incentives, including 30% upfront tax relief, tax-free dividends and tax-free growth.”
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