YFM Equity Partners has closed its British Smaller Companies Venture Capital Trusts with £90m raised.

It had originally aimed for £65m, but the funding has smashed through and filled the £25m overallotment facility.

The British Smaller Companies VCT was first listed in 1996 and a second one followed in 2000. The two funds are some of the longest-running VCTs on the market, with over 15,000 shareholders.

Since January 2022, the funds have invested around £70m in various UK businesses, including the North West’s first unicorn, Manchester-based cloud data platform Matillion.

With the new money brought in by the fundraising drive, YFM said it would be looking around the UK to invest the cash.

It has already opened offices in London, Leeds, Reading, Manchester and Birmingham.

In December, YFM announced a £95.5m close of its Buyout Fund III, marking the highest amount ever raised from a YFM Buyout Fund.

YFM managing partner Eamon Nolan 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.

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