Childcare Corporation 8 is also planning to buy an existing nursery so that it can start trading by the end of July. The task of raising the finance is in the hands of the Tax Efficient Solutions division of investment management firm Smith and Williamson, which is selling 1 shares to investors largely through financial advisors, accountants and tax planners.
Martin Sherwood, head of Tax Efficient Solutions, which has been involved in creating all the Childcare Corporation's companies, said, 'We have raised historically 23m and are still engaged in raising funds for Childcare Corporation 8. We believe having separate companies is the easiest way of doing fundraising. If you had to do it all within one company, you would be spending lots of money on accountancy fees in valuing your portfolio.'
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