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The Triple Point VCT has announced an offer for up to £30 million (£10 million + £20 million overallotment).
The VCT has total net assets of £62.2 million and a portfolio of 48 companies. The VCT is focused on B2B companies and tends to invest at an earlier stage than many other VCTs, when valuations are typically lower.
Over the five years to June 2024 the VCT has delivered a NAV total return of 15.7%, which targets a dividend of 5p per annum.
Nicholas Hyett, Investment Manager at Wealth Club said, “Triple Point’s willingness to back young businesses far earlier than most VCTs is probably its defining feature.
“Making many, smaller investments means the VCT is well diversified and has the potential for substantial uplifts over time. The VCT has already reported its first cash exit – delivering a 5.2x return on the sale of Credit Kudos to Apple – which means dividends are flowing. All in all, a very promising start for a VCT which is only a little over five years old.
“We see the VCT as one of the most promising to be launched after the Patient Capital Review – meaning it has always been focussed exclusively on growth capital investments. That has been a challenging place to be recently. But despite that headwind the VCT has delivered a positive return for investors, and with the VCT now at a decent scale the future looks bright.
“For VCT watchers, Triple Point is one to keep an eye on.”
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