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Quester reopens VCT5

UK venture capital firm Quester has reopened its fifth venture capital trust, which had closed at GBP18.6 million by May this year. The original target was GBP25 million. Although short of this figure Quester’s fund raising was an achievement in a year which saw a lot of venture capital trusts fold when they failed to raise their minimum requirement and others fall far short of the mark. This reopening will last until the end of the current tax year (April 4, 2003.)

The firm is also in the midst of an institutional fund raising exercise, which is expected to see it net somewhere between GBP100 million and GBP150 million. Other funds managed by the firm include some of those created under the UK government inspired University Challenge investment scheme.