Calculus Capital launches VCT fundraising – providing exposure to diverse portfolio of entrepreneurial growth companies
Calculus Capital has launched fundraising for the Calculus VCT, which aims to deliver investors an annual dividend of 4.5% (equating to 6.1% for investors who receive 30% income tax relief) and capital growth.
The proceeds from the fundraising will be used to invest in new companies and to provide additional funding to existing portfolio companies.
The Calculus Capital VCT will invest alongside the Calculus Capital Enterprise Investment Scheme (EIS) fund, giving investors in both the VCT and EIS funds exposure to larger deals.
Calculus Capital has invested in UK SMEs for more than 18 years, backing companies from a wide range of sectors and industries, including technology, life sciences and healthcare, media, transportation, retail and leisure, winning many awards for its investment performance and company selection during that time.
Calculus’s current VCT portfolio includes Cornerstone, fast-growing subscription shaving and skincare brand; Blu Wireless, providing advanced microchip technology to semiconductor companies worldwide; fast expanding Synpromics, developing synthetic promoters to better target gene therapies, and Weeding Technologies, a developer of environmentally-friendly weed and moss control systems which are free from harmful chemicals, such as glyphosate.
John Glencross, Chief Executive of Calculus Capital, said: “VCT investment is a vital source of development and scale-up funding for many of the UK’s most promising smaller businesses, which are essential to the future of the UK economy.
“Calculus Capital invests for growth. We are sector agnostic, simply looking for impressive management teams with robust business models and evidence of clear market need. Our investment helps these firms grow and succeed, and provides our investors with attractive tax-free dividend income and the potential for high levels of capital growth.”
The Calculus Capital VCT has consistently paid annual dividends ranging from 4.5% to more than 7% for the past seven years.
The key characteristics of the companies in which Calculus invests include:
- Robust business model
- Strong management team
- Evidence of market opportunity
- Companies which can achieve a target Internal Rate of Return (IRR) of 20%
An early bird discount of 0.5% is available on investments made on or before February 2 2018 and existing Calculus Capital investors will also receive a 0.5%
*Calculus VCT is targeting a regular annual dividend payment of 4.5% of NAV. For investors who receive full VCT income tax relief of 30%, a 4.5% dividend payment equates to 6.1%.