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.  

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Amati AIM VCT

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.

AIM - - - - - -
Coming soon  
Blackfinch Spring VCT

A new VCT to be managed by the Blackfinch Ventures team

Generalist 5% from 2024 5.5% 3% (4% existing investors) 2.5% (1.5% existing investors) - £6.4m / £20m
30 Sep 2021 (3pm) for 2021/22 allotment  
British Smaller Companies VCTs

Two of the longest-established VCTs, managed by YFM Equity Partners. Share offers regularly fill quickly.

Generalist - - - - - -
Coming soon  
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% 2.35% (2.85% for existing shareholders) 2.65% (2.15% existing shareholders) 0.10% £7m / £10m
27 Aug 2021 (5pm) for 2021/22 allotment  
Downing ONE VCT

A blend of AIM companies, earlier-stage growth opportunities and asset-backed investments

Generalist 4% of NAV 4.5% 2.25% 2.25% 0.10% £11.8m / £15m
78% full
31 Aug 2021 (3pm) for 2021/22 allotment  
Foresight Williams Technology Shares

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

Generalist 5% from 2024 5.5% 3% (3.5% for existing shareholders) 2.5% (2% existing shareholders) 0.10% £7.3m / £20m
29 Dec 2021 for 2021/22 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 - - - - - -
Coming soon  
Maven Income and Growth VCTs

Maven Capital Partners 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.

Generalist - - - - £20m sought
Coming soon  
Northern VCTs

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.

Generalist - - - - - £50m sought
Coming soon  
Octopus AIM VCTs

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.

AIM - - - - - -
Coming soon  
Octopus Apollo VCT

With assets of more than £170 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.

Generalist - - - - - -
Coming soon  
Octopus Titan VCT

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

Generalist - - - - - -
Coming soon  
Pembroke VCT

Pembroke's manager, formerly Oakley Capital, is a long-established name in venture capital investing. This VCT has a distinctive investment strategy. Investments are focused on scalable consumer brands; ones which investors can walk down the high street and see.

Generalist - - - - - -
Coming soon  
Puma VCT 13

Launched in 2018, the thirteenth VCT managed by Puma Investments is now moving to an evergreen structure.

Generalist - - - - - -
Coming soon  
Seneca Growth Capital VCT

A growth-focused VCT share class from Seneca Partners investing in a mix of unquoted and AIM quoted companies

Generalist 3p 5.5% 4.5% 1% (0% for existing shareholders) 0.20% £5m / £10m
24 Sep 2021 (5pm) for 2021/22 allotment  
Triple Point VCT 2011

Generalist, growth-oriented Venture Share class for Triple Point 2011 VCT, investing primarily in B2B companies.

Generalist 3p per share 5.5% 3% 2.5% 0.10% £10.1m / £12.5m
Overallotting
80% full
20 Aug 2021 (noon) for final allotment  
Albion VCTs

Albion Capital is one of the longest established VCT managers. The VCTs have a broad spread of underlying investments in earlier-stage technology, more mature asset-based businesses, renewable energy, healthcare and education, with a credible team managing these.

Generalist - - - - - - CLOSED    
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 150 companies spread across legacy MBO investments, AIM-quoted companies and newer early-stage growth investments, as well as three Gresham House equity funds, and money market funds. Target dividend of 7% – not guaranteed.

Generalist - - - - - - CLOSED    
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 - - - - - - CLOSED    
ProVen VCTs

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.

Generalist - - - - - £40m / £40m CLOSED    
Puma Alpha VCT

This is Puma’s fourteenth VCT, the first with an evergreen focus. It aims to invest in scale-up opportunities among established, income-yielding growth capital companies.

Generalist - - - - - £6.5m / £20m 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 - - - - - - CLOSED    

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