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Octopus targets £50m for vehicle linked to five-strong VCT range
by Elsa Buchanan on Sep 04, 2013 at 13:32
Octopus Investments is looking to raise £50 million through a share issue linked to its five-strong Venture Capital Trust (VCT) range.
Launched six years ago, the five Octopus Titan VCTs have amassed a combined portfolio of 38 investments across a diverse range of sectors.
Successful early investments include Zoopla Property Group, which powers online property portals Zoopla and Prime Location and luxury travel deal website Secret Escapes.
According to the group, the Octopus Titan VCTS 1-4 have paid out a total of over £20 million to shareholders so far in 2013.
Commenting on the share offer, Octopus business line manager of VCTs Mike Piddock said in a statement: 'We are seeing a strong demand for VCTs as they play an increasingly important role for investors as part of a diversified portfolio of investments.
'This share offer provides an exciting investment opportunity and the chance for investors to become involved in the successful businesses of the future.'
Octopus is the UK's largest provider of VCTs, managing around £3 billion worth of funds for more than 50,000 UK investors.
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