Sweet Nectar for ProVen

Beringea, which manages the two ProVen VCTs, has managed to more than double its money on an investment in community pub owner Nectar Taverns, following the company's sale to Lincoln Capital.

That represents an internal rate of return of 35 per cent.

Beringea originally invested £1.3 million in the purpose-built vehicle three years ago alongside a syndicate of fellow VCT fund managers Artemis, Unicorn and Electra Kingsway. Beringea’s Trevor Hope sat on Nectar’s board.

‘Nectar has made significant progress since we created the company three years ago,’ said Hope. AIM-quoted Honeycombe Leisure manages the 29 pubs that Nectar owns. The company has the freehold of all but one of these outlets, based in the North West.

Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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