The Foresight Enterprise VCT has announced an offer for up to £30 million (£20 million + £10 million overallotment).
The VCT has net assets of £148.2 million and a portfolio of 44 companies, which targets established businesses with a low cash burn.
Over the five years to September 2023, the VCT generated a NAV total return of 32.3% and the VCT targets a dividend of 5% of NAV.
Nicholas Hyett, Investment Manager at Wealth Club said, “The Foresight Enterprise VCT targets more mature businesses, seeking investments that are either already breaking even or pretty close. That means it’s often the last external investor to provide funding to its investees.
The focus on later stage businesses, together with a large portfolio of older legacy assets, has helped the VCT develop an enviable track record of exits in recent times. A good chunk of the remaining portfolio is profitable, particularly in the top ten largest holdings, providing potential for further realisations in future.”
