New venture capital trust launches, aims to raise £10m

By Tim Aldred

16 Jun 2023

Sam McArthur of Praetura Growth VCT

A new venture capital trust has launched to support Northern businesses and will float on the stock exchange in a bid to raise £10m.

The trust has been launched by Praetura, which is based in Manchester and operates an office in Blackburn, and is aimed at providing diverse opportunities to individual, non-professional investors.

Praetura Growth VCT plc joins the company's portfolio of products, alongside Praetura EIS Growth Fund and Praetura Inheritance Tax Planning Service.

Shares in the VCT will be admitted to the London Stock Exchange, with Praetura seeking to raise an initial £10m. The directors of the VCT and people associated with Praetura have already collectively committed to investing £1.02m to the raise.

Praetura Growth VCT plc will primarily focus on investing in growth businesses with demonstrable traction based in the North of England.

Coinciding with the launch, the group has established a new division to house its growing range of alternative retail investment offerings, Praetura Investments. 

At the same time, Praetura has appointed former Puma Investments COO of eight years Sam McArthur as a partner. Sam successfully launched several VCT and EIS funds, and grew Puma’s assets under management from circa £100m to circa £950m during his time there.

In his new role, he will help expand Praetura Investments’ range of alternative retail investment offerings and outreach to financial advisers across the UK. 

He said: "The demand for alternative investments is growing significantly. Investors are looking for solutions to diversify their portfolio and deliver strong returns, especially at a time where inflation is continuing to rise and volatility in the stock market, which affects index funds.

"Praetura’s reputation for providing ‘more than money’, combined with the team’s knowledge of the North and passion for backing exceptional businesses outside of London, offers investors a way to do that. These are factors that encouraged me to join Praetura in the first place, and I’m looking forward to seeing how far we can take our VCT."

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