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Ventus VCTs look to joint issue

RAM Capital and Climate Change Capital are looking to raise up to £20m through a joint C-share issue for the Ventus and Ventus 2 venture capital trusts.

The Ventus VCTs are specialist VCTs that invest in companies developing, constructing and operating small UK wind energy projects. The Ventus VCT is fully invested and it is expected that the Ventus VCT 2 will be fully invested in the first half of 2009.

The directors of the VCTs believe that continued Government support for UK renewable energy projects, and increasing targets for renewable energy generation create an attractive investment opportunity.

The VCTs will focus on companies across the UK that are involved in community projects, projects initiated by small-scale developers, small industrial sites and projects which are too small to be of interest to big development companies.
Investment opportunities will be identified using a database and due diligence will be carried out upon them. The portfolio will contain projects at different stages, from pre- planning to construction and operation, so that risk is diversified.

The VCT market is smaller than in previous years and generalist VCTs which focus on more than one industry may be more popular than a specialist VCT such as this. Risks of investing in alternative energy include variable wind speeds which could mean it takes longer than anticipated for companies to become profitable, and the failure of wind turbines.

However, the Ventus VCTs have established track records and may attract some investors who see renewable energy sources as an investment theme for the future.


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