Fylde coast man's firm in new funding trust launch

A North West Investment management specialist co-founded by a Fleetwood born man who has been linked with buying Blackpool FC has launched a new venture capital trust.

By The Newsroom

Published 18th Dec 2017, 16:10 BST

Updated 18th Dec 2017, 16:15 BST

Regional SME specialists, Seneca Partners, which was set up in 2010 by Ian Currie with colleagues, has announced plans to supplement their Tax Advantaged product range with the launch of The Seneca Income & Growth VCT PLC early next year.

It is seeking to build on the strong success of its EIS investment activities which also invests in the region’s growing companies.

Seneca’s managing partner, Richard Manley said: “We are long standing growth capital investors through our EIS division which has deployed around £70m in the region’s brightest prospects over the last four years and the addition of our VCT will offer investors a different tax advantaged option in an area of substantial strength for Seneca.”

Seneca is teaming up with the Directors of Hygea VCT PLC. The proposal is for Hygea to issue a new class of shares, whose assets will be managed by Seneca, under a more generalist investment policy.