London-based law firm Howard Kennedy is acting as sponsor and legal adviser to the offer, in which 10 million ordinary “E” shares are being offered at a price of £1 each.

Keith Lassman, corporate partner at the firm, says, ‘The VCT market offers an attractive investment opportunity during the current difficult market conditions and invests much needed funds into entrepreneurial companies at the same time.’

The VCT has built a fund of £38.5 million through three previous offers, the most recent of which sought to raise £25 million and brought in £19.2 million.

It invests in companies that promote live music, theatre, sports, trade shows and other similar events.