Elderstreet VCT

Deadline: 31 May 2017

Elderstreet VCT was launched in 1998 and as of 30 June 2016 has a net asset value of £25 million.

This is a generalist VCT that provides early stage, development and growth capital and largely invests in unquoted companies. Elderstreet invests across a range of industry sectors but has tended to focus on software and computer services. Recent investments have included companies in the fields of mobile ecommerce and on-demand delivery.

The VCT is managed by Elderstreet Investments Limited, which as of November 2016 is now 30pc owned AIM-listed investment manager Draper Esprit. Simon Cook, the CEO of Draper Esprit, has joined Elderstreet's investment committee. This gives Elderstreet the opportunity to invest alongside Draper Esprit funds into larger more established fast growing businesses.

Elderstreet VCT offer details

A £10 million subscription offer has been announced. You can download the application form and prospectus via the links below. 

Update (02.03.2017) – The initial £10 million has been fully subscribed; the company has exercised the option to extend the offer to £20 million.

Deadlines

Unless the offer is fully subscribed before these dates, the following deadlines will apply:

  • Early-bird saving of 2.0% on initial charge: 31 January 2017 (4:00 pm)
  • Early-bird saving of 1.5% on initial charge: 28 February 2017 (4:00 pm)
  • Deadline for shares allotted in the 2016/17 tax year: 5 April 2017 (10:00 am)
  • Final closing date: 1 May 2017 (4:00 pm) Update (28.04.2017): Deadline extended to 31 May at 3:00 pm.

The details

Targeted Dividend
4-5p per Ordinary Share
Initial Charge
5.5%
Minimum Investment
£6,000
Sector
Generalist
Deadline
31 May 2017
WealthClub Saving
2.5%

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