Longbow and ProVen VCTs could merge

Investors’ views are being sought on a possible merger between the Longbow Growth & Income and ProVen Health venture capital trusts (VCTs).

The merger – which would need the approval of investors – would see the winding up of the Longbow VCT.

The Longbow Growth & Income VCT has been open for subscription since December 2010 and had aimed to raise £10m.

The Longbow VCT focuses on investment in companies with products that have been launched or are close to launching and can be distributed through its link to Boots and the Boots Centre for Innovation.

The ProVen VCT meanwhile invests in “revenue generating companies which have proven management and technology or business propositions which are protected by patents or know-how and where there are barriers to entry for competitors”.

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