Foresight 3 VCT

This offer is now fully subscribed

Foresight 3 VCT has announced a new subscription offer, raising £3.4 million. The minimum individual investment is £3,000 (in multiples of £1,000). It is the first offer for subscription for this VCT since 2013.

The manager

Foresight Group was founded in 1984 as a specialist technology venture capital manager. It has three investment divisions: private equity, environment and infrastructure. In total Foresight has £2.3 billion under management and 63 investment professionals. £275 million is invested in its range of VCTs. David Hughes is the Chief Investment Officer and is supported by nine others in the private equity team.

The VCT

Please download the offer documents from this page and read carefully before you apply.

History

This is one of the longer running VCTs, having started as Advent VCT plc in the mid 1990s. Foresight was appointed the manager in 2004, after which it was renamed Foresight 3. In 2008, Foresight was similarly appointed to manage Noble VCT which was merged into this VCT later that year.

Top five holdings

As at 31 December 2016 the top five investments by valuation were:

  • Datapath Group Holdings Ltd
  • Ixaris Systems Ltd
  • CoGen Ltd
  • TFC Europe Ltd
  • The Bunker Secure Hosting Ltd

Proposed merger

It has been announced that Foresight 3 VCT intends to merge with its sibling Foresight 4 VCT, subject to shareholder and regulatory approval. The aims of such a merger would be to save costs and improve administrative efficiency. The resulting enlarged VCT would be expected to have assets around £74 million, with around 25 portfolio companies.

Deadlines

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

  • Deadline for shares allotted in the 2016/17 tax year: 5 April 2017 (12:00 noon)
  • Final closing date: 20 April 2017

The details

Targeted Dividend
(CLOSED)
Initial Charge
(CLOSED)
Minimum Investment
(CLOSED)
Sector
Generalist
Deadline
5 Apr 2017
WealthClub Saving
(CLOSED)

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