New fund backs ex-military entrepreneurs Stuart Nicol, an officer in the Argyll & Sutherland Highlanders from 1991 to 1998, will run the Time Reboot fund. He used to run funds for Octopus Investments, another VCT company. Mr Nicol said: "We estimate that there are over two million veterans in the UK of working age, resulting in many potential qualifying companies in which we could invest. Ex-military entrepreneurs have a number of qualities that make them stand out in the business world. These include resilience under pressure, determination, discipline and adaptability. Our team have the necessary skills to identify the opportunities and we already have a strong pipeline of potential investments. He said there were "numerous examples" of great businesses that had been created by veterans, including Trailfinders and Go Ape in Britain and FedEx, Digital Equipment Corporation and Walmart in America. Ben Yearsley, a VCT expert at Charles Stanley Direct, the fund shop, said: "I like the idea of backing ex-military as they tend to be very organised, efficient people. However, I'm not sure there is any proof that ex-military do or don't make better entrepreneurs. But he added: "Forget those growth targets - they won't achieve 70pc over five years. They have three years to invest the money and then each investment will take at least three to four years to mature. Once taking account of running costs of 3pc or more a year, they will be lucky to make 20pc after five years unless they get very lucky with one or two early investments. Yearsley said there was "absolutely nothing wrong" with the approach and that it was "certainly laudable." But he pointed out that other VCTs were available that weren't "limited to just ex-military."