VCT News
Shareholder Event 2013
The ProVen VCTs held their Annual Shareholder Event on Tuesday 15 October at the British Museum in London. After an introduction from Beringea's Founding Partner Malcolm Moss, the event was started by keynote speaker Professor Anthony Grayling. Professor Grayling is a philosopher, author and Master of the New College of the Humanities. There was then a series of presentations – firstly from Beringea's Chief Investment Officer Trevor Hope and then Beringea's Managing Partner Stuart Veale. Between them, Trevor and Stuart spoke about how Beringea finds and selects companies to back, how the ProVen VCTs have been performing, and also updated the audience on the main developments in the funds' portfolios.
Two ProVen portfolio companies then presented. Firstly Simon Bell, Chief Executive of Donatantonio, explained how Beringea was a staunch and supportive investor when the company faced difficult times in the recession. Simon gave a very honest and genuine insight into how Beringea helped Donatantonio through these times and ended with a preview of some of Donatantonio's new product launches. Henry Fairpo, CFO of Fjord, then presented. ProVen VCT and PGI VCT have recently exited Fjord generating a four times return on their investments. Henry described the journey that these VCTs and Fjord had been on together over the investment period.
At lunchtime, delegates were joined by a further seven portfolio companies which hosted stands – an opportunity for ProVen portfolio companies to showcase their businesses to shareholders. There was also a Beringea stand for shareholders to meet the wider Beringea team and ask questions.
Finally after lunch, Philip Hare from PwC presented. Philip is PwC's expert on VCT tax regulations. After giving a short presentation on the latest VCT legislation, Philip then spent half an hour hosting a Q&A session for the audience and ably answered delegates' questions.
It was a busy day, but one that was well received by the shareholders that attended. Pictures of the event can be seen below. Details of the Shareholder Event 2014 will be available by mid 2014 so watch this space!
Beringea Founding Partner Malcolm Moss introduces the Annual Shareholder Event
Professor Anthony Grayling was the keynote speaker
The main panel includes from left to right, Henry Fairpo of Fjord, Simon Bell of Donatantonio, Trevor Hope of Beringea, Stuart Veale of Beringea, Peter Hewitt, Chairman of ProVen Planned Exit VCT, Marc Vlessing, Chairman of ProVen Growth & Income VCT and Andrew Davison, Chairman of ProVen VCT.
Henry Fairpo of Fjord was one of two portfolio speakers
At lunchtime, ProVen portfolio companies attended and hosted stands to explain more about their companies
Portfolio stand – Monica Vinader, jeweller
Portfolio stand – Donatantonio, food importer
The event was very well received by shareholders
About Beringea
Beringea is an international venture capital firm with offices in London and Detroit. In the UK Beringea manages ProVen VCT, ProVen Health VCT, ProVen Growth & Income VCT and Global Rights Fund II. Beringea launched its first VCT in 1996, making it one of the most experienced VCT managers in the UK. ProVen Growth & Income and ProVen VCT are highest performing VCTs of their launch years, respectively, according to www.taxefficientreview.com. For more information please visit www.provenvcts.co.uk.