Venture Capital Trusts

Help small companies grow, save income tax and receive tax-free dividends

A Venture Capital Trust (VCT) is a publicly listed investment company run by a fund manager. It aims to make money by investing in small, unquoted, entrepreneurial companies and helping them grow. 

When you as a private investor buy shares in a VCT, you get exposure to a portfolio of small companies. The government is keen for experienced investors to invest in this kind of company, because they create jobs and support economic growth. However, investing in small businesses is risky. To help compensate for this, the government offers generous tax benefits

  • Up to 30% tax relief – save up to £60,000 on your income tax bill when you invest in newly issued VCT shares 
  • Tax-free dividends – no need to declare VCT dividends on your tax return
  • Tax-free growth – no CGT on gains
  • Generous allowance – invest up to £200,000 per tax year

Remember, tax rules can change and tax benefits depend on circumstances. 

See all current VCT offers below – you can read our reviews, download the documents and apply online. We also list VCT offers coming soon – you can register your interest for free VCT alerts as soon as offers go live.

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Blackfinch Spring VCT

Managed by the Blackfinch Ventures team, this relatively new VCT targets tech-enabled potentially disruptive businesses. Click the link above to read our full review.

Generalist 5% of NAV 5.5% 4% (5% existing investors) 1.5% (0.5% existing investors) 0.10% £4.2m / £20m
3 Apr 2024 for 2.5p dividend  
Calculus VCT

Calculus VCT invests in early-stage companies, with a focus on technology, healthcare, and entertainment.

Generalist 4.5% of NAV 5% 4% (4.5% existing investors) 1% (0.5% existing investors) 0.10% £2.1m / £10m
22 Mar 2024 for 2% early bird saving  
Foresight Technology VCT – FWT shares

A new share class of Foresight Technology VCT, part of the collaboration between Foresight Group and WAE, seeking to invest in early-stage high-growth technology businesses. Click the link above to read our full review.

Specialist 5% of NAV (see review) 5.5% 3% (3.5% existing investors) 2.5% (2% existing investors) 0.15% £4.2m / £15m
3 Apr 2024 (noon)  
Fuel Ventures VCT

New VCT from experienced EIS and SEIS manager, focusing on early-stage digital businesses backed by Fuel’s other funds

Generalist 4p per share from 2027 5.5% 5.5% 0% £4.1m / £10m
4 Apr 2024 (5:30pm) for 2023/24  
Guinness VCT

This is a new VCT from Guinness – the global fund manager and one of the UK’s largest EIS investors.

Generalist 5% of NAV from 2026 5.5% 2.5% (3.5% existing investors) 3% (2% for existing investors) 0.10% £1.6m / £10m
28 Feb 2024 for next allotment  
Hargreave Hale AIM VCT

An established offer from a well-regarded fund management house. This VCT invests in both AIM and unquoted companies, differentiating it from other AIM VCTs in our view. Read more…

AIM 5% of NAV 3.5% 1% 2.5% 0.10% £13.7m / £20m
22 Mar 2024 (5pm) for 2023/24  
Northern VCTs

The three Northern VCTs are among the longest-running and have built up a strong investor following over the years.

Generalist 4.5% to 5% of NAV 5% 2.5% (3.0% for existing investors) 2.5% (2.0% existing investors) 0.10% £53.6m / £60m
Overallotting
89% full
28 Mar 2024 (noon) for 2023/24  
Octopus Future Generations VCT

Sustainability focus: latest VCT from the UK’s largest VCT manager

Sustainability focus 5% of NAV from 2025 3% 1% for existing investors 3% (2% existing investors) 0.10% £338,000 / £15m
2 Apr 2024 (5pm) for 2023/24  
Praetura Growth VCT

New VCT from an experienced EIS manager, targeting regional businesses in technology and healthcare

Generalist 4-6% of NAV from 2027 3% 3% 0% 0.15% £1.3m / £10m
29 Feb 2024 (3pm) for 2% early bird saving  
ProVen VCTs

Established VCTs with a track record of investing in growth capital companies, particularly e-commerce.

Generalist 5% of NAV 5.5% 3% 2.5% 0.10% £5m / £30m
4 Apr 2024 (3pm) for 2023/24  
Puma Alpha VCT

The VCT aims to invest in scale-up opportunities alongside Puma’s other funds.

Generalist 5p per share 3% 2% (3% for existing investors) 1% (0% for existing investors) 0.15% £520,000 / £15m
29 Feb 2024 (5pm) for early bird saving  
Puma VCT 13

VCT with a concentrated portfolio focusing on scale-up investment opportunities across different sectors. Click the link above to read our full review.

Generalist 5p per share 3% 1% (2% existing investors) 2% (1% for existing investors) 0.10% £20m / £50m
29 Feb 2024 for early bird saving  
Seneca Growth Capital VCT

A growth-focused VCT share class managed by Seneca Partners, investing in a mix of unquoted and AIM quoted companies. Click the link above to read our full review.

Generalist 3p per share 5.5% 2.5% (3.0% existing investors) 3.0% (2.5% existing investors) 0.15% £1m / £10m
4 Apr 2024 (noon)  
Triple Point Venture VCT

The VCT invests primarily in B2B companies addressing challenges faced by large corporates.

Generalist 5p per share 5.5% 3% (4% existing investors) 2.5% (1.5% existing investors) 0.10% £10.2m / £15m
Overallotting
1 Mar 2024 (2pm) for next allotment  
British Smaller Companies VCTs

Two of the longest-established VCTs, managed by YFM Equity Partners. Click the link above to read our full review.

Generalist - - - - - £90m / £90m CLOSED    
Foresight Enterprise VCT

Generalist trust with a bias towards industrials & manufacturing, healthcare, and technology, media & telecoms

Generalist - - - - - £30m / £30m CLOSED    
Octopus AIM VCTs

A well established portfolio of largely profitable AIM companies plus earlier-stage businesses

AIM - - - - - £30m / £30m CLOSED    
Unicorn AIM VCT

Unicorn is a specialist smaller companies fund manager. The manager looks for companies with experienced management teams and strong cash generation, with the potential to pay and grow dividends over time. Click the link above to read our full review.

AIM - - - - - £20m / £20m CLOSED    

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