SCGL Puma VCT 10 and Puma EIS fund raise
Shore Capital Group Limited
(“Shore Capital,” or the “Company”)
Puma VCT 10 raises £27.2 million
First Puma EIS service raises £7.5 million
Shore Capital, the independent investment group specialising in principal finance, equity capital market activities and alternative asset management, is pleased to announce that its latest venture capital trust, Puma VCT 10 plc (“Puma VCT 10”), has successfully raised over £27.2 million and its first Puma EIS service raised £7.5 million.
Puma VCT 10 will remain open for subscriptions until mid-May or until the offer is fully subscribed.
Puma VCT 10 has raised more than any other planned exit VCT in the 2013/14 tax year and was also one of the largest single VCT fundraisings of the year, reflecting an increased desire amongst investors for tax-efficient investments combined with the defensive qualities associated with Puma Investments. Puma VCTs were the first planned exit VCTs to have returned over 100p in cash to shareholders, equivalent to a 66% tax free total return.
Having launched its first EIS offering in January, the Company is also pleased to announce that the Puma EIS portfolio service (“Puma EIS”) has successfully raised £7.5 million. Puma EIS builds on the market-leading track record of the Puma VCTs and adopts a similar asset-backed investment strategy. It aims to provide investors with downside protection in a carefully managed and diversified portfolio while seeking to deliver the full range of EIS tax advantages.
Puma EIS also remains open for investment.
Commenting on the fundraisings for both Puma VCT 10 and Puma EIS, David Kaye, Chief Executive of Puma Investments, said: “We are delighted to have attracted high levels of demand for our market leading Puma funds – the tenth such VCT fund we have created and our first EIS. Our investment team sources opportunities from across the UK to provide asset-backed financing to the SME market, supporting British entrepreneurs. The current funds raised for Puma VCT 10 are an endorsement of our expert investment team, led by Eliot Kaye, and its strong track record.”
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For further information contact:
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Shore Capital Lynn Bruce
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+44 (0) 1481 724222
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Bell Pottinger Olly Scott Zoe Pocock |
+44 (0) 20 7861 3232
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Puma VCT 10 and Puma EIS Fund raise