Albion Capital is seeking to raise up to GBP45 million through top up offers for five of its venture capital trusts. The fundraising targets the following amounts across the Albion VCT range: Albion Technology & General VCT PLC – GBP14 million; Kings Arms Yard VCT PLC – GBP12 million; Albion Development VCT PLC – GBP7 million; Albion Enterprise VCT PLC – GBP6 million; and Crown Place VCT PLC – GBP6 million.

The top up offers reflect Albion’s confidence in a strong pipeline of investment opportunities in software and healthcare, and offer the opportunity to invest in portfolios with a combined value of approximately GBP377 million, diversified across approximately 70 businesses.

The VCT portfolios have weathered the Covid-19 pandemic and related market volatility well, and are positioned to capitalise on long-term structural growth opportunities in areas which will increasingly thrive in the ‘new normal’, in software and healthcare including data analytics, digital health, fintech and digital security.

Albion Capital has a 25-year track record of investing in software and healthcare and the six partners who lead this effort have a combined 97 years of experience investing in these sectors while at Albion. The team has expanded rapidly over the last several years, with five investment managers joining the technology investment team. Albion’s portfolio is well positioned for resilient growth and its investment team has the experience, access, relationships and research capabilities to uncover exceptional new opportunities.

A strong investment programme has seen Albion invest GBP66 million across its VCT range in 36 new and existing high growth businesses in the two years to 31 December 2020. Recent investments include eTrading technology company TransFICC, challenger credit reference agency Credit Kudos and marine and automotive insurtech Concirrus.

Will Fraser-Allen, managing partner at Albion Capital, says: “The Covid-19 pandemic has thrown up exceptional challenges to the way we live and work, and precipitated the dramatic acceleration of structural changes already underway in our economy. Against this backdrop, our portfolio companies have held up well and benefit from considerable advantages that will enable them to prosper in the ‘new normal’.

“Many of our highly promising growth and technology investments are capital efficient, truly global in terms of customer base, with multi-year contracts with blue chip enterprises, and often provide mission critical software, such as cyber security protection. We are excited to offer investors exposure to these pioneering sectors, as well as the opportunity to support the vibrant and ambitious British companies that can drive our economic recovery.”


Source: Private Equity Wire


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