Mobeus VCTs renamed Gresham House VCTs

The Mobeus Venture Capital Trusts (VCTs), managed by Gresham House, have been renamed the Gresham House VCTs, bringing the trusts in line with Gresham House’s wider branding and reaffirming its position as a leader in the UK’s rapidly growing venture capital ecosystem.

Having previously been announced at the Gresham House VCTs’ annual general meeting in March, the name change has now taken effect, shortly ahead of the release of the VCTs’ interim reports later this month. The Income & Growth VCT plc has become Gresham House Income & Growth VCT plc, while the Mobeus Income & Growth VCT plc has become Gresham House Income & Growth 2 VCT plc.

The Gresham House VCTs have a long track record of delivering outstanding returns, with both trusts ranking in the top five VCTs in share price total return over five and ten years, according to data from the Association of Investment Companies. The renaming of the VCTs follows a busy period of dealmaking activity for the trusts, which recently exited AI workforce management firm Rotageek, delivering a 1.5x money multiple. This followed a £2mn investment in digital workplace pension platform provider Penfold, a £4mn investment into competitive socialising operator Spinners and the leading of a £5mn investment round in adventure travel scale-up Much Better Adventures.

Gresham House acquired the Mobeus VCT business in 2021 from Mobeus Equity Partners, enhancing the business’s presence in the VCT market. The private company investment focused Gresham House VCTs sit alongside the hybrid Baronsmead VCTs, which also invest in AIM-listed companies, as part of Gresham House Ventures, which now invests a combined £831mn in assets across its venture capital trust range.

Trevor Hope, managing director and CIO, Private Equity at Gresham House Ventures, said:

“This name change brings the Mobeus VCTs in line with the wider Gresham House brand, delivering on the business’s ambitions when it acquired the trusts of making Gresham House Ventures a recognised leader in the VCT space. While the names of the VCTs have changed, our focus on delivering outstanding returns and service continues. Shareholders will receive the same reporting and communication going forward, delivered by the same team but with a refreshed look and feel.”

 

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