Octopus announces £70m fundraise for venture capital trust


Octopus Investments plans to raise £70m in a new fundraising round for its Titan Venture Capital Trust.

It will also announced it will become the first venture capital trust in the UK to accept monthly contributions.

The trust, launched in 2007, has £309m assets under management, the largest in the UK.

Titan VCT fund manager Alex Macpherson says: “This latest fundraise gives investors the opportunity to support both established and developing portfolio companies as well as new businesses.”

Macpherson says Twitter and Microsoft are among the companies who have bought businesses backed by the trust in the last six months. The trust has a portfolio of approximately 50 smaller companies.

A fundraise launched in September last year targeted £80m, but ended up raising £100m and closing five months early.

Octopus Investments managing director Paul Latham says: “Against the backdrop of significant pension reform, we are seeing more and more people looking for ways to complement their existing retirement planning.

“Many of these customers have asked us to design a VCT which could accept monthly contributions to complement how most people manage their existing retirement plans.”

The share offer, which requires a minimum investment of £3,000, is open until share offer is open until 22 August 2017, but may close earlier.