ProVen Legacy plc has completed deals with healthcare marketing agency Cogora and fintech company Celoxica
Growth capital investor Beringea has launched a new lending company, ProVen Legacy plc (“ProVen Legacy”), and closed its first two deals. Healthcare media and marketing firm Cogora and fintech company Celoxica have received £500k and £250k loans respectively to support them in their next stage of growth. Both companies are existing investments of Beringea’s VCT funds; ProVen VCT and ProVen Growth & Income VCT.
ProVen Legacy is designed to help investors mitigate inheritance tax (IHT) and preserve their capital. Investors should be able to benefit from up to 100% tax relief from IHT on the value of their ProVen Legacy shares, provided that they have been held for at least two years and at the time of death. This strategy is designed to meet the conditions of Business Property Relief, a tax incentive established by the government to encourage investment into trading businesses. The investments into ProVen Legacy will be used to support growing companies across a range of industries as they enter the later stages of their scaling journeys, offering loans of up to £5m.