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.

Product Sort by value Type Sort by value Target dividend Initial charge Sort by value Initial saving via Wealth Club Sort by value Net initial charge Sort by value Annual rebate Sort by value Funds raised / sought Sort by value Deadline Sort by value Invest now
Baronsmead VCTs

The Baronsmead VCTs are amongst the longest-standing and most diverse of all VCTs. They give investors access to a portfolio of more than 85 companies. Click the link above to read our full review.

Generalist - - - - - -
Coming soon  
Blackfinch Spring VCT

Young VCT targeting tech-enabled businesses disrupting existing markets

Generalist 5% of NAV 5.5% 4.5% (5.5% existing investors) 1% (0% existing investors) 0.15% £1.2m / £20m
25 Oct (5pm) for Oct 2024 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 - - - - - £50m sought
Coming soon  
Calculus VCT

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

Generalist - - - - - -
Coming soon  
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% £9.3m / £10m
92% full
29 Nov 2024 (5pm) for final close  
Guinness VCT

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% 4.5% (5.5% existing investors) 1% (0% existing investors) 0.10% £200,000 / £10m
31 Oct 2024 for 2% early bird saving  
Hargreave Hale AIM VCT

VCT from an established manager investing in AIM and unquoted companies

AIM 5% of NAV 3.5% 2% 1.5% (new and existing investors) 0.10% £20m sought
8 Nov (5pm) for first allotment  
Molten Ventures VCT

Invests in early-stage consumer, enterprise, and deep tech technology businesses, often alongside FTSE listed Molten Ventures plc

Generalist 5% of NAV 5.5% 3.75% 1.75% £6.7m sought
31 Oct for 1.25% early bird  
Northern VCTs

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

Generalist - - - - - £36m sought
Coming soon  
Octopus Apollo VCT

Managed by Octopus Ventures, the VCT invests in revenue-generating businesses with a bias towards B2B software companies

Generalist - - - - - -
Coming soon  
Praetura Growth VCT

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

Generalist - - - - - -
Coming soon  
ProVen VCTs

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

Generalist - - - - - -
Coming soon  
Puma AIM VCT

New VCT from an experienced VCT and AIM IHT portfolio manager

AIM 5p per share 3% 3% 0% 0.10% £255,000 / £10m
20 Dec 2024 for 0% initial charge  
Puma Alpha VCT

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

Generalist 5p per share 3% 1% for existing investors 3% (2% for existing investors) 0.15% £3.2m / £15m
2 Dec 2024 (5pm) for final close  
Puma VCT 13

VCT focusing on scale-up opportunities across different sectors

Generalist 5p per share 3% 2% (3% for existing investors) 1% (0% existing investors) 0.15% £3.5m / £50m
17 Oct (5pm) for first allotment  
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 5.5% 3.25% (4.25% existing investors) 2.25% (1.25% existing investors) 0.15% £10m sought
29 Nov 2024 for 1% early bird  
Triple Point Venture VCT

A VCT launched in 2018 that invests primarily in early-stage B2B companies

Generalist 5p per share 5.5% 4% (5% existing investors) 1.5% (0.5% existing investors) 0.10% £1.7m / £10m
25 Oct for pre-Budget allotment with 2p interim div  
Albion VCTs

Long-established VCTs with a diversified portfolio of c.70 technology and scale-up companies

Generalist - - - - - £60m / £60m CLOSED    
Octopus Future Generations VCT

Sustainability focused VCT from the UK’s largest VCT manager

Sustainability focus - - - - - £3.7m / £15m CLOSED    
Octopus Titan VCT

The UK's largest VCT focuses on early-stage tech companies with high growth potential

Generalist - - - - - £106.8m / £125m CLOSED    
Unicorn AIM VCT

VCT from a specialist smaller companies fund manager, looking for companies with experienced management teams and strong cash generation

AIM - - - - - £20m / £20m CLOSED    

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