Baronsmead VCT 3 has closed and issued the final tranche of 24m C-shares at 100p a share.
The issue is the first VCT in this fiscal year to reach its fund raising target. Since the prospectus was issued in September 2005 F&C, who market the VCT, say it has taken approximately 30 per cent of the market. Baronsmead VCT 4 will now launch a 20m C-share issue in February.
Baronsmead investment manager David Thorp says: “We are delighted to have taken such a significant market share. This follows our experience in fiscal 2004/5 when the first two Baronsmead VCTs were also over-subscribed.”