Two venture capital trusts have closed fully subscribed despite fears last year there was oversupply in the sector.
The Singer & Friedlander Aim VCT, promoted by Matrix-Securities, has raised £16.5m.
The VCT originally sought £15m but, after heavy demand, increased the amount by the 10 per cent allowed under VCT regulations.
It has already invested more than £700,000 in three companies – high-street book ret ailer Methvens, IT training company Dalkeith Inns and software company XKO Group.
The fund-raising period for the Murray VCT closed last Friday having raised the target amount of £10.5m.
It is the third year Murray Johnstone's VCT has been fully subscribed and takes total VCT funds raised by the group to more than £100m.
Murray Johnstone Private Equity director John Simpson says: “We are delighted to have raised our target of £10.5m, particularly in a marketplace that has become increasingly competitive.
“This will enable us to continue to make larger than normal investments by co-investing with Murray VCT 2 and Murray VCT 3.”
S&F fund manager Richard Hallett says: “It is early days but we have seen an interesting range of investment opportunities. We are pleased to have been oversubscribed and our job now is to concentrate on making the fund a great success.”