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Foresight launches environmental EIS and top up in VCTs

Foresight has launched the environmental enterprise investment scheme fund 2, targeting £20m and a top-up offer of new shares in its venture capital trusts 3 and 4.

The firm says the launches will enable investors to access a diverse portfolio of investments at an advantageous stage in the economic cycle.

The Foresight environmental EIS fund 2 has a minimum investment of £10,000 and is aimed at relatively experienced investors who wish to have a greater exposure to the underlying asset class. 

It will focus on investments in more established businesses through a combination of management buy-outs of and the provision of growth capital to companies in the environmental sector.  The target internal rate of return for the fund is 20 per cent after taking into account the available tax reliefs.  Partner Donald Maclennan, investment director Sonia Powar and investment manager Chris Price, will have responsibility for the fund. 

New and existing shareholders in Foresight VCTs 3 and 4 can subscribe for new VCT shares to raise up to £10m per vehicle in order to take advantage of the current strong deal flow.  

Group sales director Mike Currie says: “Through these products, individual investors will be able to access a diversified portfolio of UK unquoted companies within a growing sector, as well as the associated EIS and VCT tax benefits.” 
 
 

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