Regional SME specialists, Seneca Partners have announced plans to supplement their Tax Advantaged product range with the launch of the Seneca Growth Capital VCT PLC during Quarter 1 of 2018.
The North West based Investment and Corporate Advisory business is seeking to build on the strong success of their EIS investment activities which also invests in the region’s growing companies.
Seneca’s Managing Partner, Richard Manley commented:
“We are long standing Growth Capital investors through our EIS division which has deployed c.£70 million in the region’s brightest prospects over the last 4 years and the addition of our VCT will offer investors a different tax advantaged option in an area of substantial strength for Seneca.
The announcements made in the Budget recently, together with the vitally important Patient Capital Review provide further conviction of the support needed by businesses in our heartlands, a cause we will continue to champion. We will maintain our position as ‘generalist’ investors and key supporters across the Northern Powerhouse which is recognised and valued by our investors from all parts of the UK.”
Seneca is pleased to team up with the Directors of Hygea VCT PLC (“Hygea”). The proposal is for Hygea to issue a new class of shares, whose assets will be managed by Seneca, under a more generalist investment policy than currently applies to its existing share class. Please see www.hygeavct.com for further details.