Blackfinch Group launches its first Venture Capital Trust (VCT), targeting growth-stage tech-enabled companies
Blackfinch Group announces the launch of the Blackfinch Spring VCT, an investment portfolio of technology and technology-enabled companies, which have already raised funding, gained traction and are seeking to accelerate the scale-up process.
The Spring VCT will also be a natural follow-on funder for the Blackfinch Ventures EIS Portfolios, which invests in technology-focused companies on the cusp of their growth journey.
Blackfinch Group’s existing businesses, including Blackfinch Ventures and Blackfinch Investments, have been focused on investing through these current EIS portfolios, as well as other tax-efficient solutions including the Adapt IHT and AIM portfolios. The Blackfinch Ventures EIS Portfolios have this year, invested in eight investee companies in the technology sector, including those providing property technology, clean technology and consumer wearables.
Blackfinch Ventures targets high-growth opportunities, supporting start-ups, early stage and growth stage businesses with technological potential. The focus is on disruptive businesses, offering products that address real world needs, with the capability to make an impact in global markets.
This launch marks a key milestone in Blackfinch’s continued growth and will further enhance the product range we offer to advisers and their clients. The Blackfinch Spring VCT will invest in companies operating across multiple sectors. The VCT will focus on its own high-quality deal flow as well as follow-on funding for the highest performing companies in the Blackfinch Ventures EIS Portfolios. These are innovative new firms at the growth stage of their development, bringing a higher chance of success. Richard Cook, Founder and CEO of Blackfinch Group
The Blackfinch Ventures team will carefully select strong, new opportunities from all around the UK, backing some of the country’s most talented founders. The Blackfinch Spring VCT will give clients the chance to diversify their portfolios through exposure to the tech sector. The VCT is targeting dividends of 5% p.a. by 2024; additional benefits will include special dividends through earlier exits and those that exceed projected performance and venture capital tax relief. Dr Reuben Wilcock, Ventures Director at Blackfinch