ProVen VCT

ProVen VCT and ProVen Growth and Income VCT have announced their intention to launch a combined offer for subscription to raise up to a total of £60 million with an over-allotment facility of up to a further £20 million in the near future.  

Register your interest here to be notified as soon as the offer opens

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The ProVen VCT is a well established VCT with around £119 million of net assets (31 May 2018) and 44 companies in the portfolio – ranging from larger, more established companies to younger ones. New investors will benefit from this already diverse portfolio as well as new investments. 

Highlights 

  • Annual dividend target of 5% (variable and not guaranteed)
  • Experienced and respected manager
  • Invests in high-growth opportunities
  • History of profitable exits and consequent special dividends – remember, past performance is not a guide to the future and dividends are not guaranteed


Important: The information on this website is for experienced investors. It is not advice nor a research or 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, so you could get back less than you invest.

The manager

Beringea LLP has managed the ProVen VCTs since inception. It is an award-winning, specialist venture capital firm which manages close to £200 million of VCT assets and is part of an international fund management group with more than $600 million of venture capital assets under management. 

It has investment teams operating both in the United States and the UK so can offer an international perspective. 

Watch an exclusive video interview with Karen McCormick of Beringea:


Investment strategy and portfolio company examples

The VCT’s investment objective is to achieve long-term returns greater than those available from investing in a portfolio of quoted companies. It aims to pay yearly dividends of 5% of NAV. Please remember dividends are variable and not guaranteed. 

ProVen VCT targets companies with a strong, balanced and well motivated management team and a proven track record of achievement, preferably with a substantial shareholding in the business.

The companies might be at different stages of development but must have a proven business model targeting a large and growing addressable market. 

Portfolio company examples – recent investments

Proven VCTs portfolio – DeepcrawlDeepcrawl

DeepCrawl is one of ProVen VCT’s more recent investments. Its web crawler helps brands assess the health of their website. Its tools highlight any faults on a website that may reduce search visibility and therefore traffic, and provide actionable insights to correct those faults.

All six major global advertising agency groups – WPP, Omnicom, Publicis, Havas, IPG, and Dentsu Aegis – use Deepcrawl, and so do more than half of the Fortune 500. Global brands using DeepCrawl include Microsoft, IBM, eBay, Uber, Salesforce, P&G, Home Depot, Sears, and Walmart.

ProVen VCT completed its £0.5 million investment in July 2017.


Proven VCTs portfolio SMARTASSISTANTSMARTASSISTANT 

Another example of recent investment is SMARTASSISTANT. It offers businesses unique technology to create intelligent, digital advisors that guide a customer’s decision online, on mobile and at the point of sale. Whether buying a laptop, a kayak or a mobile data plan, SMARTASSISTANT digital advisers engage users in a personalised dialogue and recommend products, services, and content based on their needs, thereby reducing choice overload, confusion, and indecision. 

Clients span from Microsoft to makro, Canon, Evans Cycles and SWISS airlines. 

ProVen VCT completed its £1 million investment in July 2017.

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. 

Tax rules can change and benefits depend on circumstances.

VCTs can now only invest new money in growth capital deals. Management buyouts, replacement capital deals and investments in mature companies are no longer permitted. This results in considerably higher risks.

How to invest

ProVen VCT has not yet announced its fundraising plans for 2018/19. As soon as more news is available, we will update this page.

In the meantime please register your interest here to be notified as soon as VCT offers open. 


Wealth Club aims to highlight investments we believe have merit, but you should form your own view. You should decide based on the provider's documents and ensure you have read and fully understand them before investing. This review is a marketing communication. It is not advice or a personal or research recommendation to buy the investment mentioned. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination. 31.08.2018

The details

Type
Generalist
Target dividend
-
Initial charge
-
Initial saving via Wealth Club
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Net initial charge
-
Annual rebate
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Funds raised / sought
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Deadline
Coming soon

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