LONDON – Quester, the independent U.K. venture capital firm has raised GBP53 million ($79.7 million) for its fourth VC trust, VCT4, exceeding its original target of GBP50 million ($75 million).
The fund is structured along the same lines as the previous three VCTs and will be investing in a diversified portfolio of unquoted companies. Chosen investment sectors include software, Internet, enabling technology businesses, telecom services and equipment, semiconductors, optical networking, new media, health care, life sciences and new materials.
John Spooner, a director with Quester, said that the average investment size would be between GBP800,000 ($1.2 million) and GBP1million ($1.5 million), with the fund focusing on around 30 to 40 deals.
Quester currently has more than $450.8 million under management.