Mobeus Launches New Fundraising
- Opportunity to invest across three mature VCTs with over £120 million assets
- Leading VCT performance track record
- VCT dividends provide attractive tax-free income
- Award-winning Manager
Three VCTs managed by Mobeus Equity Partners (“Mobeus”) have launched their third annual linked fundraising. The two previous offers proved to be popular with investors, each raising over £15 million.
The linked offer is open for investments of between £6,000 and £200,000 to be divided equally across the three VCTs: Mobeus Income & Growth VCT, Mobeus Income & Growth 4 VCT and The Income & Growth VCT. The linked offer provides access to the established portfolios of all three VCTs, which represent a significant asset pool of £127 million with a portfolio of over 40 companies.
The VCTs have raised funds since 2004 with Mobeus as sole Manager. They have launched with a track record of providing annual returns for their investors of between 9% and 16%, taking into account the relevant initial tax reliefs.
The VCTs have an annual target dividend of not less than 4 pence tax-free. However, in their last financial year, the VCTs actually paid out dividends of 5.0p, 6.75p and 20.0p respectively.
2012 has been a very good year for Mobeus. Buoyed by excellent realisations of investments in DiGiCo (4.4X money multiple), Iglu.com Holidays (2.5X money multiple) and App-DNA (32.0X money multiple), Mobeus won both the accolade of VCT of the Year at the 2012 Investor AllStars Awards and VCT Manager of the Year at the 2012 unquote” British Private Equity Awards.
Mobeus Managing Partner, Mark Wignall, believes that Mobeus’s generalist approach to investing coupled with a focus on MBO transactions will make the issue an attractive proposition to investors. “The leading generalist VCTs will be popular this year because they can demonstrate good performance track records, significantly increased levels of tax-free dividends and active management of their buyback and discount policies. Generalists are getting much better at ensuring that both continuing and selling VCT shareholders have a good experience with their investment.”
Mobeus is offering an incentive for early investment, whereby the first £5 million of applications will receive 1.25% additional shares for investors who invest before 30 December 2012.
This is the first offer under the new Mobeus brand following the MBO of Matrix Private Equity Partners from Matrix Group and its change of name to Mobeus Equity Partners earlier this year.