SPARK Advisory Partners Limited (“SPARK”) is pleased to announce that following its approval by the UKLA as a Sponsor for Main Market companies, it has completed its first Sponsor assignment, acting as Sponsor to highly-regarded AIM-based venture capital trusts, Amati VCT plc and Amati VCT 2 plc. The VCTs, which are managed by Amati Global Investors, have recently launched linked Offers for Subscription including an enhanced share buyback and reinvestment facility to raise up to £30 million. The Amati VCTs focus their investments on companies quoted on AIM, but allows for an element of pre-IPO investments, typically with a value of more than £15m.
Neil Baldwin and Mark Brady of SPARK have acted on over 20 VCT IPOs and secondary fundraisings since the creation of VCTs in the 1990s. Neil Baldwin, Partner, said: “We are delighted to have successfully completed a VCT transaction under a very tight timetable for one of the leading venture capital trusts currently in the market. As our VCT team has, over the years, acted for many of the managers of venture capital trusts, we hope that under the SPARK banner we can continue to be active in this specialist market.”