| Target dividend: | 5% of NAV |
|---|---|
| Minimum investment: | £5,000 |
| Target dividend: | 5% of NAV |
|---|---|
| Minimum investment: | £5,000 |
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About Foresight
The VCT is managed by the private equity division of Foresight Group, responsible for £1.6 billion across the Foresight VCTs, EIS, and institutional private equity funds (September 2024).
Founded in 1984, Foresight Group started as a specialist technology venture capital manager and oversees £12.4 billion. The group is listed on the London Stock Exchange with a market capitalisation of £600 million (September 2024).
The VCT is overseen by James Livingston, Co-Head of Private Equity who is responsible for sourcing and supporting investments across a variety of sectors. Prior to joining Foresight in 2008, James was a Strategy Consultant at Deloitte, advising healthcare and technology businesses. He is supported by a team of 58 investment professionals, whose backgrounds range from corporate finance to operations.
Foresight aims to be a regional specialist and relies on its 11 offices across the UK and Ireland for deal origination.
Important: The information on this website is for experienced investors. It is not a personal recommendation to invest. If you’re unsure, please seek advice. Investments are for the long term. They are high risk and illiquid and can fall as well as rise in value: you could lose all the money you invest.
Investment strategy
Foresight VCT has a long history of takeovers, mergers and strategy changes adopting its current generalist growth capital approach in 2018.
It now looks to provide capital to more mature companies with a proven market fit. Companies typically have an enterprise value of between £5–£25 million and revenues of £1–£5 million. Deals may include the use of loan notes and preference shares to help protect the downside – although as all VCTs, this remains a high-risk investment.
The investment team vets all potential deals against several criteria:
- Strong management teams
- Technology-enabled and scalable
- Well formulated strategies
- Attractive entry valuations and structures
- Growing, non-cyclical markets
- Strong market positioning reflected in margins
- Low cash burn
Performance and dividends
In the five years to December 2025, the VCT generated NAV total returns (including dividends reinvested) of 61.3%, strengthened by recent exits. Past performance is not a guide to the future. Note, we show VCT returns over a five-year period as a minimum, where possible. Where a VCT has followed the same investment strategy for longer, we also show returns over 10 years.
The VCT aims to pay annual dividends of at least 5% of NAV. Over the five years to December 2025, the VCT has paid cumulative dividends equivalent to 57.7% of the VCT’s starting net asset value. Please note, dividends are variable and not guaranteed.
NAV and cumulative dividends per share over five years (p)
Morningstar. Past performance is no guide to the future. Dividends are variable and not guaranteed. The bar chart shows net asset value and cumulative dividends per share for the period 31/12/2020 – 31/12/2025.
Dividends paid per calendar year
Morningstar. Past performance is no guide to the future. Dividends are variable and not guaranteed. The bar chart shows dividend per share paid in each calendar year.
Dividend yield history (% of starting NAV)
| Calendar year | Dividend as % of NAV |
|---|---|
| 2021 | 5.0% |
| 2022 | 9.4% |
| 2023 | 9.6% |
| 2024 | 13.3% |
| 2025 | 12.8% |
Source: Morningstar. Dividend yields are based on the dividends paid over the period divided by the starting NAV of the VCT over the same period. Past performance is no guide to the future.
Risks: important
This, like all investments available through Wealth Club, is only for experienced investors happy to make their own investment decisions without advice.
VCTs are high-risk so should only form part of a balanced portfolio and you should not invest money you cannot afford to lose. They also tend to be illiquid and hard to sell and value. Before you invest, please carefully read the Risks and Commitments and the offer documents to ensure you fully understand the risks.
To retain the tax benefits, VCTs should be held for at least five years. If you sell VCT shares and reinvest in new shares of the same VCT (including any mergers) within six months, tax relief can be restricted. Tax rules can change and benefits depend on circumstances.
This financial promotion has been communicated and approved by Wealth Club Ltd on 10 December 2024
Wealth Club aims to make it easier for experienced investors to find information on – and apply for – investments. You should base your investment decision on the offer documents and ensure you have read and fully understand them before investing. The information on this webpage is a marketing communication. It is not advice or a personal or research recommendation to buy any of the investments mentioned, nor does it include any opinion as to the present or future value or price of these investments. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.