The YFM Equity Partners’ managed British Smaller Companies Venture Capital Trusts (VCTs) has closed its latest funding round with £90m of committed funds in place.
Despite the challenging economic climate, YFM has fulfilled its original £65m offer for the VCTs fund raise, plus an additional £25m.
In December 2023, the firm announced a £95.5m close of its Buyout Fund III, marking the highest amount raised to date by a YFM Buyout Fund.
YFM’s British Smaller Companies VCT plc was first listed on the stock exchange in 1996 and was followed by the British Smaller Companies VCT2 plc in 2000.
The funds are two of the longest running VCTs on the market and currently have more than 15,000 shareholders in place.
YFM’s VCT investment strategy, which seeks to build a broad portfolio of investments in early stage, smaller companies that are focused on growth, has resulted in consistent returns across both VCTs.
With the new funds in place, YFM will seek to capitalise on high quality investment opportunities in the UK regions.
The firm operates Northern offices in Manchester and Leeds and has invested including Manchester ‘unicorn’ Matillion.
Eamon Nolan, YFM Managing Partner, said: “Once again, we have proven that there is a strong appetite to invest, where the right opportunity – one that truly resonates with investors – is delivered.
“Undoubtedly, the longevity and strong track record of our BSC VCTs have proven a draw to new and repeat investors alike. All are attracted to the idea of supporting small, ambitious businesses, which are carving out leading positions in their sectors, from their regional bases.”
He added: “Our VCTs continue to bridge a funding gap for smaller, dynamic businesses seeking to accelerate growth and, in doing that, they boost the regional and national economies. We now look forward to helping more businesses fulfil their potential.”
