Welcome to our new website! Let us know what you think..

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

VCT to invest in ex-forces entrepreneurs

VCT to invest in ex-forces entrepreneurs

A venture capital trust (VCT) that will invest exclusively in businesses run by ex-military entrepreneurs is seeking to raise £20 million.

Called the TIME:REBOOT VCT, it is managed by TIME Investments with investment advice from Reboot Ventures. It is targeting growth in excess of 70% over the first five years, including the initial 30% income tax relief from the VCT structure.

‘We estimate that there are over two million veterans in the UK of working age, resulting in many potential qualifying investee companies,’ said Stuart Nicol, who will manage the fund. ‘Ex-military entrepreneurs have a number of qualities that make them stand out in the business world. These include resilience under pressure, determination, discipline and adaptability.’

As examples of successful firms started by veterans, he cited Mergermarket, Trailfinders and Go Ape in the UK, and FedEx, Digital Equipment Corporation, Walmart and Enterprise Rental in the US.

At least 50% of the fund will invest in established profitable companies, with the remaining half used to back those with ‘compelling evidence to indicate significant future growth, with the potential for recurring profits within three years’.

Leave a comment
Citywire TV
Play Gervais Williams: the real reason to worry about Quindell

Gervais Williams: the real reason to worry about Quindell

Citywire AA-rated manager Gervais Williams has argued that sentiment is the true danger to Quindell.

Play AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

Henderson International Income trust manager Ben Lofthouse shares his thoughts on recent developments in the tobacco sector in this video.

1 Play Renewable energy: what I found on my solar farm trip

Renewable energy: what I found on my solar farm trip

Renewable energy is attracting a lot of investor interest, so I headed to the UK's largest solar farm to find out more.

Your Business: Cover Star Club

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Nineteen months on from the merger of Quilter Cheviot chief executive Martin Baines says the deal is now paying dividends.

Wealth Manager on Twitter