Venture Capital Trusts

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.  

Available VCT offers

Our featured offers. Our favourites among current offers, selected purely on investment merit. Find out more about how we choose.

Show these offers first
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
Our choice Draper Esprit VCT

Diverse VCT portfolio with a focus on growth businesses, particularly in software and computer services. The acquisition of Elderstreet by Draper Esprit promises to enhance deal flow and provide the VCT with opportunities to invest in larger, more established businesses.

 Generalist 3p 5.5% 2.5% 3% - £11.6 million / £20 million 31 Jul 2020 (4pm)  
Blackfinch Spring VCT Generalist 5% from 2024 5.5% 3% 2.5% - £3.5 million / £20 million 30 Oct 2020 (3pm) for next allotment  
Calculus VCT

The Calculus VCT invests alongside the long-established Calculus EIS fund, which launched in 1999, offering a lower entry point for investors seeking Calculus’ approach to building a broadly diversified portfolio.

 Generalist 4.5% of NAV 5% 2% (2.5% for existing shareholders) 3% (2.5% existing shareholders) 0.10% £3.7 million / £10 million 28 Aug 2020 for next allotment  
Downing ONE VCT

A blend of AIM companies, earlier-stage growth opportunities and asset-backed deals from an established VCT manager.

 Generalist 4% of NAV 4.5% 2.25% 2.25% 0.10% £14.4 million / £25 million 31 Jul 2020 (3pm) for final allotment  
Foresight Williams Technology Shares Generalist 5% from 2024 5.5% 4% (4.5% for existing shareholders) 1.5% (1% existing shareholders) 0.10% £2.3 million / £20 million 31 Jul 2020 for 1% initial saving  
Hargreave Hale AIM VCT

Hargreave Hale specialises in smaller companies investing. This AIM VCT has not raised funds since 2018-19 and intends to open a £20m offer for subscription in 2020-21.

 AIM - - - - - - Coming soon  
Octopus Titan VCT

The UK's largest VCT has always been focused on earlier stage growth-oriented companies. It has over 70 companies across a wide range of sectors. The focus is on backing talented entrepreneurs. It has backed some notable winners in the past including Zoopla, SwiftKey and Graze.

 Generalist - - - - - - Coming soon  
Triple Point VCT 2011

Generalist, growth-oriented Venture Share class for Triple Point 2011 VCT

 Generalist 3p per share 5.5% 3% 2.5% (1.5% existing shareholders) 0.15% £5.1 million / £10 million 14 Jul 2020 for next allotment  
Seneca Growth Capital VCT Generalist - - - - - £1.8 million / £10 million CLOSED    
Unicorn AIM VCT

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.

 AIM - - - - - £25 million / £25 million CLOSED    

More about Venture Capital Trusts

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VCTs Explained

VCT Tax Relief

How to claim VCT tax relief

News about Venture Capital Trusts. Read all

Are investors still putting money in VCTs?

6 April 2020

These are testing times – for people, economies and stock markets. The impact of the ever-changing current situation on stock markets around the world is well documented. But what about VCTs?In our recent article, we looked ...

VCTs – are you investing at yesterday's prices?

1 April 2020

We are living through unprecedented times. The outbreak of COVID-19 is having a material impact on everyone’s lives and on financial markets. One question many of our investors are asking is how this is being reflected ...

Coronavirus – update from Pembroke VCT

30 March 2020

Pembroke is placing the safety and welfare of its colleagues, investors, and all other stakeholders as its highest priority and is taking all necessary steps to protect individuals, ensure business continuity and provide support to our ...

Coronavirus – latest update from Octopus Titan VCT

26 March 2020

Our portfolio companies are planning for all likely scenariosWe have been working closely with all of our portfolio companies to better understand the immediate and medium-term impacts of Covid-19 on their businesses, and to understand what ...