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Foresight announces launch of £20 million VCT share offer for Foresight Williams Technology VCT shares

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  • A new share class for Foresight Solar & Technology VCT
  • Targeting a fundraise of £20 million
  • Foresight Williams Technology VCT Shares can invest alongside sister EIS Fund
  • Unique collaboration between Foresight and Williams Advanced Engineering
  • Supporting innovative UK-based technology businesses with high growth potential

Foresight Group LLP (“Foresight”) and Williams Advanced Engineering (“Williams”) are pleased to announce the launch of a share offer (“the Offer”) for Foresight Williams Technology Shares, a new share class within Foresight Solar & Technology VCT (“the VCT” or “the Company”).  The Offer, which opened on 20 December 2019, has a target fundraise in aggregate of £20 million and is open to investors for tax years 2019/20 and 2020/2021.

The Foresight Williams Technology Share class represents an exciting investment opportunity made possible by the unique collaboration between Foresight and Williams Advanced Engineering (“Williams”) which saw the successful launch of the Foresight Williams Technology EIS Fund in 2016. It has thus far raised approximately £40 million and invested in excess of £25 million into 15 innovative technology businesses.

The Offer provides investors with the opportunity to invest in a portfolio of early-stage companies with high growth potential, developing transformational technologies across a range of sectors, with all the associated benefits of a VCT wrapper.

Recent investments from the sister Foresight Williams Technology EIS Fund include; Open Bionics, an award-winning designer and manufacturer of next generation bionic limbs, Refeyn, an Oxford University spin-out developing a new generation of scientific instrumentation with the potential to transform the biopharma sector, and Mixergy, which is set to revolutionise the global hot water tank market.

The Foresight Williams Technology share class is a new share class that sits within the long-established and successful Foresight Solar & Technology VCT.  It can invest alongside its sister Foresight Williams Technology EIS Fund, targeting investment in companies where Foresight’s and Williams’ expertise and services can be harnessed to assist with the development of businesses, with the objective of achieving successful exits at high value multiples.

The launch comes in response to demands from financial intermediaries who believe there will be strong appetite from private investors who value the simplicity of the VCT structure.

Nick Morgan, Partner at Foresight, said: Following the success of the Foresight Williams Technology EIS Fund, we are delighted to launch the Foresight Williams Technology share class within our ground-breaking Foresight Solar & Technology VCT to give investors the opportunity to invest alongside the EIS fund with all the benefits of the VCT tax wrapper.  The investment strategy has been popular with investors looking for opportunities to support early-stage and innovative companies in the UK with the potential for strong financial returns.

Matthew Burke, Head of Technology Ventures at Williams Advanced Engineering, added: “We are excited to launch the new Foresight Williams Technology share class within the Foresight Solar & Technology VCT which builds on the growing popularity of the Foresight Williams Technology EIS Fund. The launch of the new share class further strengthens the unique relationship between Foresight Group and Williams Advanced Engineering, and we are delighted that the ‘Foresight Williams’ collaboration now comprises both VCT and EIS products.”

ENDS

For further information contact:

Ben Thompson, Foresight Group bthompson@foresightgroup.eu/020 3667 8155

NOTES FOR EDITORS

About Foresight Group LLP ("Foresight”):

Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 35 years.

Foresight has over £4 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs) and Inheritance Tax Solutions using Business Property Relief (BPR).

Foresight’s Private Equity team, comprising 28 investment professionals, pursues four discrete but complementary investment styles: Venture, Impact, Growth and Replacement Capital through its growing regional office network.

Foresight was named ‘Fund Manager of the Year’ at the PLC Awards 2018, ‘Generalist VCT of the Year’ at the Investment Week Tax Efficiency Awards 2018/19 and was a finalist in the 2018 Unquote British Private Equity Awards as Venture and Growth Capital House of the Year.  In 2017, Foresight was voted ‘Best VCT Investment Manager’ at the Growth Investor Awards, having been previously awarded ‘VCT House of the Year’ at the 2016 Unquote British Private Equity awards.

Foresight is headquartered in London with regional UK offices in Manchester, Nottingham, Milton Keynes, Leicester, Edinburgh and Guernsey and international offices in Sydney, Rome, Madrid and Seoul.

www.foresightgroup.eu

About Williams Advanced Engineering:

Williams Advanced Engineering Limited operates a technology and engineering services business and is part of the Williams Group.

In 2010, Williams Grand Prix Engineering Limited began diversifying its operations, leading to the establishment of the Williams Advanced Engineering division, which has now become Williams Advanced Engineering Limited. Combining cutting edge technology and the industry’s best engineers with precision and speed to market derived from four decades of success in the ultra-competitive environment of Formula One, Williams Advanced Engineering provides world class technical innovation, engineering, testing, manufacturing and operational consultancy services to the automotive, motorsport, aerospace, defence, health and energy sectors. Working in close collaboration with its customers, Williams Advanced Engineering helps meet the sustainability challenges of the 21st century and improve performance, with its expertise in aerodynamics and thermodynamics, electrification, advanced lightweight materials, simulation and vehicle integration.  The Company was honoured with the Queen’s Award for Enterprise in Innovation 2018.

For more information see www.wae.com, follow on TwitterLinkedIn and Instagram.