A new UK-based web fund is about to be floated which will invest in the lucrative US internet funds sector via a Guernsey company. The Net Investor investment trust will raise £50m through the listing and will give UK investors access to the exclusive US based funds that provide venture capital for internet start-ups.
Net Investor will make its investments through an offshore company in Guernsey called Chamelle, which will itself receive 20% of trust's net asset growth if this growth exceeds 8% annually. It has also applied for investment trust status in order to avoid capital gains tax liabilities. The fund is scheduled to run for 14 years, consistent with the lifecycles of the sort of trusts in which it will invest, and will either be wound up or have its funds reinvested at the end of this period.
The Net Investor fund is the brainchild of Timothy Childs, a well known internet investor, who will also run it. Among the fund's directors are former commissioner of the Securities and Exchange Commission Barbara Thomas and Keith Young, founder of NetBenefit.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment