Help small companies grow, save income tax and receive tax-free dividends
A Venture Capital Trust (VCT) is a publicly listed 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 access 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 – £294 million paid out in 2018/19 alone
Tax-free growth – no CGT on gains
No need to declare dividends on your tax return
Generous allowance – invest up to £200,000 per tax year
Remember, tax rules can change and tax benefits depend on circumstances.
See all current offers below – you can read our review, download the offer documents and apply online. We also list VCT offers due to open this tax year – you can register your interest and we'll send you an alert as soon as the offer is live.
Albion Capital is one of the longest established VCT managers. Together, the six VCTs give investors exposure to a well diversified portfolio of 73 companies, a combination of predominantly growth capital investments and a somewhat smaller legacy portfolio of income-generating, asset-based and renewable energy investments, as well as cash.
The Baronsmead VCTs are amongst the longest-standing and most diverse of all VCTs. They give investors access to a portfolio of more than 100 companies. Click the link above to read our full review.
The three Northern VCTs are among the longest-running and have built up a strong investor following over the years. Since December 2019 the management has been under the ownership of Mercia Asset Management plc.
Pembroke's manager, formerly Oakley Capital, is a long-established name in venture capital investing, with £4 billion under management. Pembroke VCT is focused on growth investing, typically backing consumer brands with premium pricing potential. Click the link above to read our full review.
Amati is a highly regarded fund manager with a track record of investing in smaller listed businesses. For investors willing to tolerate the potential volatility of AIM, this could be an offer to consider.
Calculus VCT invests alongside the long-established Calculus EIS fund, offering a lower entry point for investors seeking Calculus’s approach to building a broadly diversified portfolio. Click the link above to read our full review.
A newly created share class within Downing FOUR VCT that will seek to invest in a portfolio of 15–20 AIM-quoted companies. Click the link above to read our full review.
Downing FOUR Healthcare Shares, one of the three active share classes in Downing FOUR VCT, seeks to invest in early and mid‐stage healthcare companies. Click the link above to read our full review.
Downing FOUR Ventures Shares (previously known as Generalist) is one of the three active share classes in Downing FOUR VCT. It seeks to invest in a portfolio of small, ambitious technology businesses. Click the link above to read our full review.
Foresight Enterprise VCT (formerly Foresight 4 VCT) has a weighting towards technology, media and telecoms. Click the link above to read our full review.
A new share class of Foresight Solar & Technology VCT, part of the collaboration between Foresight Group and Williams Advanced Engineering, seeking to invest in early-stage high-growth technology businesses. Click the link above to read our full review.
Maven is a highly regarded fund manager known for its strong regional presence. The Maven VCTs are now a blend of more mature management buyout investments, early-stage high-growth private companies, AIM-quoted companies, private equity investment trusts and cash or cash equivalents. Click the link above to read our full review.
Mobeus is a private equity house with a strong track record of VCT management. Its four VCTs once predominantly invested in MBOs; since the VCT rule change in 2015 Mobeus has built up an experienced growth investing team, led by Trevor Hope (formerly of the ProVen VCTs). Mobeus focuses on mid-stage growth companies; investors will continue to be exposed to the MBO portfolio although this will be replaced over time.
An established VCT offering new investors a diverse portfolio of maturing companies alongside new investments. Beringea has a solid track record of investing in companies with growth potential and supporting them until a profitable exit can be achieved. Click the link above to read our full review.
Launched in 2018, the thirteenth VCT managed by Puma Investments is now moving to an evergreen structure. Click the link above to read our full review.
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, growth-oriented Venture Share class for Triple Point 2011 VCT, investing primarily in B2B companies. Click the link above to read our full review.
Generalist
5p per share
5.5%
3% (3.5% for existing shareholders)
2.5% (2% existing shareholders)
0.10%
£5.6m / £10m
31 Jan 2022 for existing shareholder loyalty saving
Unicorn is a specialist smaller company fund manager. The manager looks for companies with strong cash flows and potential to pay and grow dividends over time. This is a large, well diversified VCT. Click the link above to read our full review.
The former Elderstreet VCT invests in early-stage digital technology businesses, often alongside FTSE 250 listed Molten Ventures plc (previously Draper Esprit plc), which acquired the VCT management company in 2019.
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…
Octopus AIM VCT and Octopus AIM VCT 2 (together the Octopus AIM VCTs) offer exposure to a well established portfolio of largely profitable AIM companies plus earlier-stage businesses from newer investments.
With assets of more than £225.5 million, Octopus Apollo is one of the largest VCTs available. Investors get exposure to a portfolio of largely revenue-generating fast-growing companies, with a bias towards technology.
In June 2021, the UK crossed a new milestone. It is now home to 100 tech unicorns – private tech companies valued above $1 billion – only the third country to achieve this, after the US ...
It is the ultimate objective and final hurdle for VCT and EIS fund managers: supporting their portfolio companies all the way through to a profitable exit to realise returns. Below we list eight recent exits from ...
In recent weeks we have seen increased demand for Venture Capital Trusts (VCTs). Since the start of February, £163.7 million has flowed into VCTs. This compares to £122 million in the equivalent period last tax year, ...
The investment strategy of Pembroke VCT – to back passionate entrepreneurs building premium consumer brands – differentiates it from the wider cohort of VCTs.The investment team tends to get directly involved in investee companies, often taking ...
