Octopus Titan VCT raises record £100m

Sprouting-Money-Growth-Emerging-Currency-700.jpgOctopus Titan VCT has raised a record £100m, marking its largest ever fundraise.

The fundraise, which originally targeted £80m, opened in September 2015 and closed on 5th April this year.

Octopus says new investors made up 67 per cent of the fundraise.

Octopus business line manager for VCTs Stuart Lewis: “This record fundraise represents a tipping point for the industry. Against the backdrop of significant pension reform, we are seeing more and more people looking for alternative ways to complement their existing retirement planning.”

The VCT sector raised £457.5m in the 2015/16 tax year, which was the highest since 2006, according to the Association of Investment Companies.

Lewis says: “VCTs are now seen by many as a powerful planning tool and can be an attractive way to gain access to the growth potential of smaller, early stage companies.

Titan VCT, which was launched in 2007, invests in firms such as Zoopla, Secret Escapes and most recently SwiftKey, which was sold to Microsoft in February.