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Octopus announces fund raising for Titan VCT

20 September 2018

Octopus Investments has opened fundraising for its Octopus Titan venture capital trust, targeting £120 million.

The latest fundraising for the company’s flagship VCT follows a record-breaking fundraise last year when Titan raised £200 million.

The VCT offers investors access to a portfolio of over 65 smaller companies, with a specialism in tech-driven businesses in the UK. These include AI-powered language learning app, Memrise, and Sofar Sounds which hosts music events in more than 415 cities across the globe every month.

Paul Latham, managing director, Octopus Investments, said: “VCTs continue to grow in popularity, with demand reaching its highest level in a decade last year. This is being driven partially by changes to pension and buy-to-let legislation, but also by those looking for a tax-efficient way to complement and diversify their portfolio.”

VCTs offer investors up to 30% upfront income tax relief providing that shares in the VCT are held for at least five years, as well as tax-free dividends and tax-free growth. Since it first launched in 2007, Titan has announced total dividends of 71p per share to investors.

Jo Oliver, fund manager, Octopus Titan VCT, commented: “Titan has been investing in innovative early stage companies for more than a decade now, and the pipeline of investment opportunities is as strong as it’s ever been. Whether in healthcare, retail, industry or financial services, there is absolutely no shortage of talented tech entrepreneurs who have the potential to completely transform their markets.”

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