Octopus Investments, part of Octopus Group and provider of venture capital trusts (VCTs) has opened a new fundraise for Octopus Titan VCT, managed by Octopus Ventures. 

Octopus is targeting another £120m fundraise for its flagship VCT.

This follows last year’s fundraise when Octopus Titan raised a total of £230m.

If fully subscribed, the total fund size could rise to almost £1bn AUM, acting as, what the firm called, “a crucial source of capital for early stage businesses across the UK”.

Paul Latham, managing director at Octopus Investments, said: “VCTs have become a vital part of the UK’s entrepreneurial ecosystem and provide funding for hundreds of innovative businesses across the country.

“Just looking at Octopus Titan, the positive impact of VCT investment is huge, driving significant revenue growth and creating thousands of new jobs.

“Investors are increasingly aware if this too, and many like the idea of backing smaller companies and contributing to their success.”
 
Jo Oliver, fund manager of the Octopus Titan VCT, said: “With one of the largest Venture investment teams in Europe, we get to see thousands of investment opportunities every year and meet hundreds of businesses.

“We’re looking for truly pioneering entrepreneurs, which means the bar for investment is extremely high, but we are constantly impressed by the incredible talent in the UK.

“This reflects the continued evolution of the UK venture ecosystem which is now one of the best places to build world class technology companies.”
 
The share offer is open until September 2020 but may close earlier if fully subscribed.

The minimum investment is £3,000 while the maximum investment qualifying for tax relief is £200,000.