Albion Ventures looks to share issue

Albion Ventures is aiming to raise £25m through a share issue on its Development VCT after tax relief on higher-rate pension contributions dipped below that on income from VCTs.

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Patrick Reeve, managing partner, said in April he would look to raise £20-30m through a share issue on one of the VCTs following the tax changes announced in the Budget. The Development VCT is one of Albion's top-performing funds, having lost 15.9 per cent over one year to June 1 and 15.4 per cent over three.

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