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Renewable energy target for Hazel Capital VCTs

Hazel Capital is offering a pair of venture capital trusts in the renewable energy sector.

The Hazel renewable energy VCT 1 and VCT 2 will each aim for £20m and will focus on UK and European renewable energy projects.

In January, the firm launched the Hazel global clean tech equity fund, which is Ucits III-compliant and domiciled in Dublin.

Founder Ben Guest says: “There has only been a couple of renewable VCTs before these products so we feel this is an area of the market that investors will find attractive. We feel we are well positioned for this market.”

Hargreaves Lansdown inv-estment manager Ben Yearsley says: “The company is well known in the renewables’ area but not necessarily in a VCT structure. There are a number of new entrants in this sector and it is a case of investors making sure that they choose those with the right capabilities.”

Chelsea Financial Services head of investments Matthew Woodbridge says: “It is pleasing to see a new entrant to the VCT market but there are already some established players with VCTs focused on the cleantech and renewables’ area, so Hazel Capital may struggle to attract sufficient investment in their offering.”

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