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Octopus Apollo VCT to raise up to £30 million

Sophisticated and complex high-risk tax-sensitive investments in small companies: handle with care
BusyBumbleBee
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Octopus Apollo VCT to raise up to £30 million

#222059

Postby BusyBumbleBee » May 16th, 2019, 11:20 am

Octopus Apollo VCT plans to raise £20 million but can go up to £30 million

This is extracted from the Weathclub website https://www.wealthclub.co.uk/venture-ca ... aunch+2019

The Octopus Apollo VCT has been through a few iterations over its lifespan. Originally launched as Octopus Apollo VCT 3 in 2007, it has since merged with six other VCTs including Octopus VCT 2 and Octopus Eclipse VCT to create the VCT in its current form in 2016.

Historically and until recently, the VCT pursued a cautious investment strategy. It invested in more established and often already profitable companies rather than startups. In addition, most of the investments also included a secured debt element with pre-agreed interest payments, which could generate a more reliable income stream than equity investments and support dividends.

However, changes to the VCT rules introduced in November 2015 meant those types of deals are no longer allowed for new investments (the changes do not affect existing investments).

While a significant disruption to Apollo’s original strategy, the investment team has taken a measured approach to revamp the portfolio.

I wonder if other Fools can see the positives in this - cos I can't?

The I looked at the last report published on 8th May and saw
On a total return basis, after adding back the 3.1p of dividends paid in
the year, the NAV has decreased 0.8%. The NAV plus cumulative dividends
has decreased from 118.6p per share as at 31 January 2018 to 118.2p per
share as at 31 January 2019.

Hmmm...

And then I looked here https://uk.advfn.com/p.php?pid=financia ... LSE%3AOAP3 and looked at the graph etc

My guess is that they will still fill the full £30 million.

Kidman
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Re: Octopus Apollo VCT to raise up to £30 million

#222160

Postby Kidman » May 16th, 2019, 3:46 pm

WealthClub wrote:Originally launched as Octopus Apollo VCT 3 in 2007,
and prior to launch registered as Octopus Protected VCT plc but the then FSA outlawed such names!
BusyBumbleBee wrote:My guess is that they will still fill the full £30 million.
I'm sure they will. Octopus have a decent overall track record and they work very hard with IFAs.
I believe that many of their Titan success stories would qualify under current rules.

UncleEbenezer
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Re: Octopus Apollo VCT to raise up to £30 million

#238133

Postby UncleEbenezer » July 20th, 2019, 11:24 pm

More bad news for both Titan and Apollo as Eve Sleep suffers another bout of ... shall we say insomnia? Though the big headline is Woodford, who is Eve's biggest investor.

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Re: Octopus Apollo VCT to raise up to £30 million

#253245

Postby bernie » September 23rd, 2019, 11:11 am

BusyBumbleBee wrote:Octopus Apollo VCT plans to raise £20 million but can go up to £30 million

...

And then I looked here https://uk.advfn.com/p.php?pid=financia ... LSE%3AOAP3 and looked at the graph etc

My guess is that they will still fill the full £30 million.


Hello BBB. Thanks for posting all this useful information (and for your kind responses on my other thread).

Looking at Trustnet, the performance chart for Octopus Apollo is very different to the price chart that you posted:

https://www.trustnet.com/factsheets/t/i ... lc-ord-10p

I assume that the difference is because the Trustnet chart includes dividends, whereas the ADVFN price chart only shows the price.

Therefore, to my novice eye, the 5 year chart for Octopus Apollo looks fine. But please correct me if I am wrong as I have yet to make my first VCT investment and am still learning how to analyse them.

UncleEbenezer
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Re: Octopus Apollo VCT to raise up to £30 million

#253251

Postby UncleEbenezer » September 23rd, 2019, 11:31 am

Third or fourth quartile on all measures in that trustnet graph. Not inspiring.

FWIW, I bought Eclipse in the 2014/5 season. Rationale (apart from scarcity of good offers remaining open after the Baronsmead 5 fiasco), management of Eclipse had recently passed to the Titan team, whose track record was rather more inspiring, and Eclipse had significantly lower costs than Titan. But then Eclipse got merged (against my vote) into Apollo, and lost those advantages. :evil:

Cumulative performance: investment £5k, now valued at £2061. With £2.6k divis on the way (huge special before the merger). So an investment that's in the black only by virtue of £1.5k tax relief. Six months hence it comes out of tax shackles, and I have no desire to hold any longer.


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