|By PR Newswire||
|March 11, 2013 05:00 AM EDT||
LONDON, March 11, 2013 /PRNewswire/ --
- Opportunity to invest in a mature and diversified VCT portfolio
- History of regular dividends (paid or declared 27.3p per share tax-free over past seven years)
- A later-stage investment focus, investing in income-generating private businesses
- Attractive levels of tax-free yield
- Available for subscription over two tax years (2012/13 and 2013/14)
- Up to 30% initial tax relief available
- Track record of Maven top-up Offers being over-subscribed
Maven Capital Partners (Maven), a leading VCT, Private Equity and Alternative Asset manager has launched a £5 million top-up Offer for Maven Income and Growth VCT 4. The Offer, which will close on 30 April 2013, is available for subscriptions for both the tax years 2012/13 and 2013/14.
This will appeal to investors who are looking to invest with a leading generalist VCT manager where there is the likelihood of regular and attractive tax-free dividends and capital appreciation. The offer provides access to a mature VCT portfolio, and an investment that also benefits from the initial tax relief of up to 30% available on new VCT Shares.
Maven is one of the best resourced VCT management teams in the industry, investing across a wide range of sectors in mature and profitable private companies throughout the UK. Maven has also established one of the strongest and most consistent records for profitable VCT exits, including five achieved during 2012.
Bill Nixon, Managing Partner at Maven, said: "Following the success of recent top-up offers by four of the other Maven VCTs, we believe this offer will be equally attractive to investors looking for a regular tax-free income stream. Investors will gain access to a mature and broadly based VCT with a later-stage new investment focus and a history of paying regular dividends. The previous offer by this VCT in February 2012 closed early, having been fully subscribed."
Notes to Editors
About Maven Capital Partners UK LLP http://www.mavencp.com
Maven Capital Partners UK LLP (Maven) is a small-to-mid cap private equity house focused on the provision of growth capital and mezzanine finance to SMEs across the UK. It is one of the most active private equity fund managers in the country, managing around £280m of assets for a variety of client funds, including Venture Capital Trusts, the Scottish Loan Fund, Capital for Enterprise Fund A, and a number of family offices and high net worth individuals.
Headquartered in Glasgow, and with five other offices in key regional centres throughout the UK, Maven has nationwide coverage of the market for SME finance and is able to source a range of new private company investments through 18 regionally based investment executives. The Maven investment team is introduced to over 400 deals per year that meet its investment criteria, through long standing relationships within the Corporate Finance community. Completing on average four to six deals each year across the UK, and deploying up to £25m in capital, Maven invests on behalf of its full range of client funds and a syndicate of Investor Partners.
With over 35 partners and staff, Maven also offers hands-on proactive portfolio management to investee companies and provides a fully integrated back-office support function to client and third party fund managers.
In 2011 Maven was selected as sole fund manager of the £113m Scottish Loan Fund established by the Scottish Investment Bank. Supported by both public and private investment, the Fund was set up to address the market need for finance by SMEs. It will focus on providing mezzanine loans to growth and export businesses with an established presence in Scotland and an annual turnover of more than £1m.
About Maven Income and Growth VCT 4
The VCT was launched by the current management team in August 2004 under the name of Aberdeen Growth Opportunities VCT 2 PLC, before changing its name to Maven Income and Growth VCT 4 PLC in December 2009 following the management buyout of the private equity business of Aberdeen Asset Management.
Maven Income and Growth VCT 4 has built a widely diversified portfolio of established and high-yielding UK private companies, and the focus is on delivering continued improvements in shareholder value through the further expansion of the private equity asset base. The Company has paid or declared 27.3p per share in dividends over the past seven financial years, and has generated an increasing level of tax-free income for shareholders. Maven Income and Growth VCT 4 currently has 37 unlisted private company investments and total net assets of £14.8 million.