In the 2021-2022 tax year, VCT fundraising surged past £1bn, according to Will Fraser-Allen, managing partner at Albion.
This was a 65% increase from the previous year, driven primarily by “post-Covid exuberance, where private investors, buoyed by increased savings and renewed market activity, sought to capitalise on the booming tech sector,” he said.
However, due to more macro-economic pressures, broader market uncertainty and a retraction in the quoted tech market, “this momentum proved unsustainable”, Fraser-Allen added.
VCT fundraising fell by more than 22% between 2021 and t…
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