TLDR:
- Praetura Investments launches Praetura Growth VCT plc to invest in scale-up businesses in the North of England
- The VCT aims to address the £9bn funding gap for Northern small businesses seeking capital for growth
Praetura Investments, a Manchester-based alternative asset manager, has introduced the Praetura Growth VCT plc, with a focus on supporting scale-up businesses in the North of England. The VCT has successfully raised over £3m and aims to drive capital growth while targeting a regular annual dividend starting in 2027. The fund will primarily invest in companies based in the North of England to help address the significant funding gap identified in the UK venture capital market.
After 13 years of successful venture investing in EIS-qualifying companies, Praetura has launched the VCT in response to demand from financial advisers looking for alternative investment opportunities. The VCT will be managed by Praetura Ventures and co-invest alongside the Praetura EIS Growth Fund, showcasing a commitment to supporting investors with a range of qualifying offers. The fund remains open for investment until May 31, 2024.
This new venture from Praetura Investments follows a period of growth for the firm, including the addition of 12 specialists to its team. The launch of Praetura Growth VCT plc underlines the company’s differentiated proposition and focus on investing in the North of England, offering significant opportunities for investors in the region. The successful fundraise for the VCT amidst a challenging market highlights the strength of Praetura’s offering and investor confidence in the venture.
