YFM announces £90m British Smaller Companies VCTs fund close

In December 2023, the firm also announced a £95.5m close of its Buyout Fund III, marking the highest amount raised to-date by a YFM Buyout Fund.

Commenting on the VCTs fund raise close, Eamon Nolan, YFM managing partner said: “Once again, we have proven that there is a strong appetite to invest, where the right opportunity – one that truly resonates with investors – is delivered.

“Undoubtedly, the longevity and strong track record of our BSC VCTs have proven a draw to new and repeat investors alike. All are attracted to the idea of supporting small, ambitious businesses, which are carving out leading positions in their sectors, from their regional bases.”

YFM’s British Smaller Companies VCT plc was first listed on the stock exchange in 1996 and was followed by the British Smaller Companies VCT2 plc in 2000. The funds are two of the longest running VCTs on the market and have more than 15,000 shareholders in place at present.

YFM’s VCT investment strategy seeks to build a broad portfolio of investments in early-stage, smaller companies that are focused on growth.

YFM said that with the new funds in place, it will seek to capitalise on “high quality” investment opportunities in the UK regions.

Since January 2022, YFM’s VCTs have invested circa £70m in a number of young fast-growing UK businesses, across the UK. Included in its portfolio is the North West’s first unicorn company – Matillion, a Manchester-based cloud data integration platform.

The firm has offices in London, Leeds, Reading, Manchester and Birmingham.

Mr Nolan added: “Our VCTs continue to bridge a funding gap for smaller, dynamic businesses seeking to accelerate growth and, in doing that, they boost the regional and national economies. We now look forward to helping more businesses fulfil their potential.”