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Matrix aims for 20m with VCT3

Matrix is launching an income and growth VCT 3 and is marketing a packaged share offer for the Foresight 3&4 VCTs which it promotes.

The firm is aiming to raise 20m in the new income and growth VCT managed by Mat-rix Private Equity Partners. The VCT will be similar to the original Matrix income and growth VCT which closed in June.

The income stream will invest in yield-bearing instruments such as loan stock or preference shares while the capital growth stream will invest in companies where there is clear potential for making a capital gain.

Foresight Venture Partners’ packaged share offer for Fore- sight 3&4 VCTs is unusual bec-ause the existing 22m combined portfolios are already mature and yielding profitable exits and Foresight aims to pay annual tax-free dividends from the start. Foresight will invest the offer proceeds into established UK technology firms.

Matrix director Bridget Guerin says: “We think this will be a very busy VCT season, with several of the more popular offers closing well before the end of this tax year.”

Hargreaves Lansdown inv-estment manager Ben Yearsley says: “Matrix is a very dependable performer with results starting to come through from the earlier pots of money. You can’t argue with Foresight, who have run the best-performing VCT of all time.”

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