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Yorkshire sets £20m target with second tech VCT

Yorkshire Fund Mana-gers is offering its second technology venture capital trust, with the aim of raising £20m.

The fund, which is one of several autumn VCT launches, will be called the British smaller technology companies VCT 2.

The investment strategy will be similar to the original fund, which was set up in May last year.

The new fund will focus on providing early stage finance for core technology companies.

As with the first fund, the VCT will be managed in partnership with Cambridge-based Generics Group, which provides special-ist technology advice and support in monitoring investments.

Director Phil Cammerman says: “We are con-fident that the new VCT will prove to be a pop-ular investment. When we announced we were raising additional funding for our first VCT earlier this year, the offer closed within a few days because of the high level of demand.”

Michael Philips partner Michael Both says: “I am planning a potential push on VCTs at the moment. You get good tax breaks and I see them as an important part of overall portfolio management.”

Other forthcoming launches include Matrix&#39s Trivest trust, a new Barons- mead VCT as well as Aim VCTs from Close Brothers, Friends Ivory & Sime and Northern Ventures.

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