36 - Buying Mobeus and state of the VCT market with Bevan Duncan

In September, Gresham House announced the intention to buy Mobeus and add their four VCTs to its existing Baronsmead VCTs. Bevan Duncan returns to the podcast to discuss the deal and its rationale. We cover the strategic reasoning as well as how they chose a manager. We dig a bit into the diligence, including how they assessed past performance. As a deal that is about growing rather than cost savings, we also discuss how the new company will operate and what opportunities it may bring. With some recent VCT fundraisings flying off the shelves , we also chat about the current state of the market. We chat about investor demand for VCTs and also dig into how the market is developing for VCTs making investments and how the strong liquidity at later stages is filtering down. Gresham House website: https://greshamhouse.com/ (https://greshamhouse.com/) Gresham House VCTs website: https://greshamhouse.com/venture-capital-trusts/ (https://greshamhouse.com/venture-capital-trusts/) Suggested book: https://www.amazon.co.uk/Legacy-James-Kerr-ebook/dp/B00AN2KTKQ/ref=sr_1_8?dchild=1&keywords=all+blacks&qid=1633973188&qsid=260-4024862-8370840&s=books&sr=1-8&sres=1509856684%2C1556527861%2C1913538206%2CB091C492CX%2CB08SH41XVV%2C0141997443%2C1452158711%2C147210353X%2C178739901X%2C1782277536%2CB09HPBWGSW%2C1914933109%2CB08DSX8Y8M%2C1784162817%2CB086ML4KWH%2C1999753038&srpt=DOWNLOADABLE_TV_EPISODE (Legacy) by James Kerr