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Northern Venture Managers launches new VCT

Northern Venture Managers is launching the third in a series of VCTs, the appropriately named Northern 3 VCT.

The generalist fund is due to be launched on September 25 and is aiming to raise £25m. It will invest primarily in smaller unlisted UK companies, including those recently floated on Aim.

It will also cooperate with other trusts run by NVM in investments of up to £5m. Minimum investment is £3,000 and maximum is £100,000 per tax year in the trust which will have an issue price of 100p.

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