Close Income & Growth VCT, the most popular of the forty or so trusts seeking funds in the last tax year, has started to invest the £45 million cash pile it gathered in earlier this year.
The venture capital markets are awash with record levels of cash, which is good news for growing companies in need of funding. But the bad news is that investors are being more picky than ever before.
Occupational health services provider Grosvenor Healthcare has receivedan additional £1.05 million from existing investor Close VentureManagement to fund the acquisition of Glasgow rival Associated HealthSpecialists.
The crowded VCT fundraising market has seen its first casualty after Beringea, which manages the ProVen and ProVen Media VCTs, pulled its £30 million fundraising for ProVen 3.
VCT operator Murray has served notice on investment manager Murray Johnstone, charging Close Venture Management’s Patrick Reeve with the task of reviving its flagging fortunes.
One investor is as good as another, surely? Wrong. Who holds the shares in your company when you are quoted on the stock market can make a huge difference to the value of your business.
