Top-up funding to enable Albion ‘to stimulate long-term growth’ in investment-seeking companies
24 October 2012 17:28
Leading venture capital investor Albion Ventures is seeking investments across six of its venture capital trusts (VCTs), totalling £15m.
It is hoped that the top-up fund will enable Albion to back more growing companies in the future, while allowing the VC firm to continue supporting existing investments which are predominantly focused in the environmental and healthcare sectors.
With the first closing due to take place on December 19, investors are invited to commit between £6,000 and £200,000; it is expected that the £15m total will be met by the end of the final closing on April 5 2013.
Unless investors request otherwise, funding will be spread equally across six VC trusts, which comprise of 58 companies and have a collective worth of over £187m.
Patrick Reeve, managing partner at Albion Ventures commented: “Feedback from many of our investors suggests they are proud to be backing growth in the UK’s smaller companies, many of which continue to suffer from a shortage of access to finance and yet whose health plays a crucial role in the country’s economic recovery.
“By continuing to build our current investments and seed future successes, Albion is well placed to stimulate long term growth and generate strong returns for our investors.”