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NVM launches second VCT next month

Northern Venture Managers will launch their second venture capital trust at the start of next month. The Northern 2 VCT aims to raise up to £25m through a share issue.


The new fund is already substantially invested. Investment strategy will be similar to other NVM trusts and funds. The new fund will co-invest with two other funds the Northern Investors a £25m capital fund floated in 1990 and the Northern Venture Trust launched in 1995.


By adopting this strategy NVM will be able to invest up to £3m in any individual deal.


Investment director Tim Levett says: &#34It is difficult to assess the track record of VCTs at this stage, because many investments are still at an early stage and their book value does not yet reflect their true potential.&#34


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