SME specialist Seneca Partners is to supplement its Tax Advantaged product range with the launch of The Seneca Income & Growth VCT PLC during the first quarter of 2018.
The North West based independent investment management and corporate advisory business hopes to build on the strong success of its EIS investment activities, which also invests in the region’s growing companies.
Managing Partner Richard Manley said: ‘’We are long standing Growth Capital investors through our EIS division, which has deployed c.£70million in the region’s brightest prospects over the last four years and the addition of our VCT will offer investors a different tax advantaged option in an area of substantial strength for Seneca Partners.
“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 Partners has teamed-up with the Directors of Hygea VCT. The proposal is for Hygea to issue a new class of shares, whose assets will be managed by Seneca Partners, under a more generalist investment policy than currently applies to its existing share class.