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ProVen turns to media

ProVen private Equity has introduced its media venture capital trust (VCT) that allows up to 15 per cent of the fund to invest in US media businesses.

The ProVen media VCT aims to provide long term capital growth by investing in media related companies and those who help other companies promote their brand names by using new technology, such as the Internet.

This VCT was set up because the explosion of new media has brought about new investment opportunities in the media and communications sectors. Companies with good ideas depend on financial backing to make them work, which means investors have the chance to make good returns if they subsequently take off.

Like other venture capital trusts, the media VCT focuses on unquoted companies that are still in a developmental stage. However, the investment risks of this particular venture capital trust could be too much even for a sophisticated investor with an adventurous streak. In addition to its narrow focus on a volatile sector, the unusual option to invest in US media businesses as well as the UK could increase the risks, particularly if they are technology related businesses.

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