Mobeus VCTs raise £45 million within 24 hours

Four Mobeus venture capital trusts launched on Monday with the aim of raising £76 million got off to a flying start, with over £24 million raised in the first three hours and £45 million raised in the first 24 hours.

VCTs are a government scheme that encourages investment into early-stage entrepreneurial businesses. Their primary goal is to boost entrepreneurial activity and employment by providing tax breaks for sophisticated investors willing to accept the higher risks of investing in such businesses.

Alex Davies, CEO and founder of the Bristol-based Wealth Club of investors said: “With a whopping £45 million raised in the first 24 hours, this is the fastest-selling VCT offer we have seen. Despite the gloomy economic outlook, investors are still exceptionally keen to invest and support early-stage businesses when the right opportunity is presented to them.

The demand for the Mobeus VCTs comes as no surprise. They have been the top four performing VCTs over both five and 10 years and have always had a hugely loyal following. Indeed, more than 1,500 of clients had registered their interest in the offer even before it opened.

That said, with tax rates back to their highest in 70 years and restrictions on the amount wealthier investors can hold in a pension showing no signs of abating, we expect demand for VCTs in general to remain strong this year.”

The VCTs’ portfolios include around 41 companies, currently valued at £365.7 million (June 2022), including Virgin Wines and MPB, the world's leading marketplace for used photo and video equipment.