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Foresight launches £20 million Share Issue for Foresight VCT plc

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  • diversified portfolio of more than 40 companies
  • Offer open for tax years 2019/20 and 2020/21

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Foresight Group LLP (“Foresight”), a leading infrastructure and private equity investment manager, is pleased to announce the launch of an offer for subscription (“Offer”) to raise an additional £20 million of capital on behalf of Foresight VCT plc (“the VCT” or “the Company”), with an over-allotment facility to raise up to a further £5 million, through the issue of new shares.

The Offer, which is open to investors for tax years 2019/2020 and 2020/2021, will provide new and existing shareholders with a further opportunity to access a diversified portfolio of fast-growing companies and benefit from the VCT tax reliefs available to qualifying investors.

Since the last offer in 2017, Foresight VCT’s portfolio has grown significantly and currently comprises in excess of £130 million of assets, with investments in over 40 UK-based trading businesses across a diverse range of sectors. Over the past 12 months, Foresight VCT has made 11 (£15.4 million) new and follow-on growth capital investments.

Nick Morgan, Partner at Foresight, said: “We are very proud of the performance Foresight VCT has been able to deliver to shareholders since its inception and are seeking to build on this success through the issue of new shares, with the aim of supporting and expanding our existing portfolio of companies. We are confident that we will see a strong appetite from investors given Foresight VCT’s track record of delivering strong performance and dividends.”

ENDS

For more information contact:

Ben Thompson, Foresight Group, bthompson@foresightgroup.eu | +44 (0)20 3667 8155

NOTES FOR EDITORS

About Foresight Group LLP (Foresight):

Foresight has been managing investment funds on behalf of institutions and retail clients for more than 35 years.  It has in excess of £4 billion AUM across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs) and Inheritance Tax Solutions using Business Relief (BR) and OEICs.

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.

In private equity, Foresight has more than £700 million of funds under management and a UK SME portfolio comprising more than 90 companies, making growth capital and equity release investments from five regional institutional funds alongside a family of Venture Capital Trusts and Enterprise Investment Schemes.

Foresight is also a leading renewables infrastructure investor with over £3 billion of clean energy infrastructure assets under management including wind, solar, bioenergy, hydro, battery storage and flexible generation.  Foresight currently manages more than 190 renewable generation assets globally, with a total generating capacity of 2GW.

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

www.foresightgroup.eu