Our investment criteria
To date the Puma VCTs have raised approximately £100million to provide growth capital on a senior secured basis to investees with a good track record, a credible business plan, and strong financial controls. A significant proportion of these funds have been raised recently and are now available for new investments. The Puma VCTs investment management team is actively seeking suitable investment opportunities where we believe we can forge mutually beneficial relationships with entrepreneurs.
We will require first charge security over stable and high quality assets but can offer a lower cost of capital as a result.
One of our recent investees referred to the fact that the Puma VCTs offer “the best of both worlds”:
- The benefits of senior and mezzanine finance without the headaches, bureaucracy and aggravation of dealing with a lending bank
- The benefits of working with an entrepreneurial and flexible private equity team without the concerns of equity dilution and loss of control
We have a small experienced investment team who can move quickly and have completed investments in 4 weeks from first meeting to funds flowing.
We bring the wider resources of a diversified investment banking group to bear on any given investment and can assist investees across their growth cycle; Shore Capital has equity analysts, corporate finance and public markets specialists.
We have an industry leading track record of returning capital to our investors, and have never had a failed investment. We advocate all of our investments and investee teams in the broader market, often attracting further capital from other investors or assisting with financial exits.
We provide funding at a sensible cost of capital where the upside is left for management
We support development across a wide range of sectors including retail, leisure, residential and commercial development and healthcare. We can also support acquisitions or management buyout’s where there is a strong operator and management team leading execution.
We can provide receivables finance where collection experience is clearly demonstrable
Our criteria and typical terms
We look to support experienced management teams who have a clear track record of success. Our funding levels are set at 60-70% loan to cost on developments, and 60% loan to value on secured growth capital. We can provide much higher lending ratios on pre-let or forward financed deals
Our typical loan size is £2m - £5m, although larger loans (up to £40million) can be arranged on a syndicate basis for the right counterparty.
We charge arrangement fees, typically of 2% to 2.5%, but rarely charge exit or completion fees. Interest rates are dependent on the nature of the transaction, but are competitive.
Shore Capital Stockbrokers Limited is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority.
Shore Capital Limited and Shore Capital and Corporate Limited are authorised and regulated by the Financial Services Authority.
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