Albion Capital believes that the long-term capital provided by VCTs allows startup companies to evolve and contribute to the broader UK economy, particularly through job creation. This fundraise also aims to support promising businesses in its existing VCT portfolio of around 65 companies throughout the UK, the firm said in a statement. Many of these companies grew rapidly last year, including Proveca, Egress, and Quantexa, which was the first UK unicorn of 2023. 

This latest fundraise will allow Albion Capital to invest in high growth companies, focusing on B2B technology, healthcare and DeepTech opportunities across the UK.

“VCTs remain an attractive long-term vehicle for investors as they are able to invest throughout economic cycles; they provide compelling tax benefits and have delivered good long-term performance,” Will Fraser-Allen, managing partner at Albion Capital, said.