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 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% 4.5% (5.5% existing investors) 1% (0% existing investors) - £1.9m / £20m
28 Jan 2021 for early bird  
British Smaller Companies VCTs

A strong offer from an experienced management team. Previous offers have reached capacity rapidly..

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% 3.5% (4% existing shareholders) 1.5% (1% existing shareholders) 0.10% £1.8m / £10m
31 Jan 2021 for early bird saving  
Downing ONE VCT

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

Generalist 4% of NAV 4.5% 2.75% (3.25% for existing shareholders) 1.75% (1.25% existing shareholders) 0.10% £3.2m / £15m
26 Feb 2021 (3pm) for early bird  
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% £130,000 / £20m
1 Apr 2021 for 2020/21 allotment  
Octopus Apollo VCT

With assets of more than £140 million, Octopus Apollo is one of the largest VCTs available. Investors get exposure to a portfolio of new growth-capital investments as well as legacy MBO and energy investments.

Generalist 5% of NAV 5.5% 2.5% (3.5% for existing shareholders) 3% (2% for existing shareholders) 0.10% £20.5m / £25m
82% full
5 Apr 2021 (noon) for allotment in 2020/21  
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 3p per share 5.5% 3.0% 2.5% 0.15% £5.8m / £20m
31 Jan 2021 for early bird saving  
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 5p from 2023 3% 1% 2% 0.10% £2.9m / £20m
1 Apr 2021 (3pm) for 2020/21 allotment  
Puma VCT 13

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

Generalist 4p-6p 3% 1% 2% 0.10% £2.4m / £7.5m
30 Mar 2021 (3pm) for 2020/21 allotment  
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% 0.20% £1.8m / £10m
31 Jan 2021 for initial saving  
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% 3.5% (4.5% for existing shareholders) 2% (1% for existing shareholders) 0.10% £3.6m / £10m
31 Jan 2021 for early bird saving  
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 - - - - - -
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 - - - - - £30m / £30m CLOSED    

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