New fund raising for Calculus VCT
1 November 2017
Calculus Capital has launched fundraising for its venture capital trust, aiming to deliver investors an annual dividend of 4.5%, or 6.1% for investors who receive 30% income tax relief.
The proceeds from the fundraising will be used to invest in new companies and to provide additional funding to existing portfolio companies, the firm said.
John Glencross, chief executive of Calculus Capital (pictured), commented: “VCT investment is a vital source of development and scale-up funding for many of the UK’s most promising smaller businesses, which are essential to the future of the UK economy.
“Calculus Capital invests for growth. We are sector agnostic, simply looking for impressive management teams with robust business models and evidence of clear market need. Our investment helps these firms grow and succeed, and provides our investors with attractive tax-free dividend income and the potential for high levels of capital growth.”
The Calculus Capital VCT will invest alongside the Calculus Capital Enterprise Investment Scheme fund, offering investors in both the VCT and EIS funds exposure to larger deals. Calculus Capital said it would be looking to invest in companies with a robust business model, strong management team, evidence of market opportunity and capable of achieving a target Internal Rate of Return of 20%.
Calculus, which has £150m of funds under management, has invested in UK SMEs for more than 18 years across a range of industries, including technology, life sciences and healthcare, media, transportation and retail and leisure.
Its current VCT portfolio includes Cornerstone, a subscription shaving and skincare brand; Blu Wireless, providing advanced microchip technology to semiconductor companies worldwide; Synpromics, developing synthetic promoters to better target gene therapies, and Weeding Technologies, a developer of environmentally-friendly weed and moss control systems.
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