Venture Capital Trusts  

Blackfinch VCT prepares for first dividend payment

Blackfinch VCT prepares for first dividend payment
Blackfinch CEO Richard Cook. (Blackfinch)

Blackfinch Ventures plans to make its first dividend payment in April this year.

The venture capital arm of Blackfinch Group completed its latest £1.3mn investment round in December. 

Richard Cook, CEO, said: "Over the years, we have established a strong portfolio of high-growth firms which provide an industry-leading exposure to underlying revenue growth.

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"It is fantastic that our VCT is now able to target dividend payments for 2024 and beyond as this now enables a wider range of investors to consider investing with Blackfinch."

The VCT invests in early stage technology companies across the UK. 

Dr Reuben Wilcock, head of ventures at Blackfinch, said: “Our investment strategy is in step with the UK’s drive to nurture a dynamic early-stage tech ecosystem.

"We emphasise identifying and supporting early-stage businesses that showcase not only innovative technology but also sustainable and scalable growth, contributing to the UK’s technology sector and economy."

The latest round of investments provides follow-on funding for two existing companies in the portfolio, as well as funding for new company Quin which provides anonymised website traffic in real time using an artificial intelligence system. 

Wilcock added: “Beyond the financial returns, VCTs play an important role in the UK’s economic fabric.

"They supply vital capital to emerging companies, fuelling not just their growth but also contributing to job creation and wider economic development."

tara.o'connor@ft.com

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