VCT Offers now closed

The Maven VCT 3 and VCT 4 Offers have now closed for applications.

Watch Maven's Managing Partner, Bill Nixon, discuss the benefits of investing in VCTs


Important information

The Securities Note, Registration Document and Summary (together The Prospectus) issued in connection with the Offers, are available on this page and provide details of the VCTs, Offers costs and relevant risk factors. An investment in shares in the Offers referred to on this web page should be made only after reading, and solely on the basis of information set out in, these documents and the Key information Document (KID) for the two VCTs. The past performance of a VCT is not a guide to future performance. No projection or forecast should be inferred from information on this page.

£32m raised

Including use of over-allotment facilities

Offers closed

27 May 2022

For applications

Next VCT Offer

Not yet announced

Details of any future Maven VCT offers will be announced by the VCTs nearer the time

Backing some of the UK’s most ambitious smaller companies

The Maven VCTs target investment in young and dynamic growth businesses which often benefit from contracted recurring revenues, targeting sectors that are not consumer focused and are generally more defensive in volatile market conditions, such as software, cyber security, training, healthcare and data analytics.

About the Offers

The Investor Opportunity

These are Offers by two established generalist VCTs with large, highly diversified portfolios and a history of generating positive shareholder returns and regular dividends.

Investing in Entrepreneurial UK Companies

Subscription through these new share Offers provides access to existing portfolios of private equity and AIM investments that have been selected for their potential to achieve capital appreciation and generate profitable realisations for VCT shareholders.

The Manager

Maven is one of the best resourced and most active managers in the sector, with a long-standing track record of success and a regional office network offering nationwide coverage of the market for sourcing VCT qualifying investments.

Delivering Growth

The funds raised will allow the VCTs to make further new and follow-on investments in fast growing companies, at a time when Maven's nationwide team is generating a strong pipeline of new opportunities. Maven invests across a broad range of sectors, targeting businesses that have strong core characteristics including a business model capable of scalable growth and a highly capable management team with a proven track record.

Why invest?

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Proven investment track record

The Maven team has 20 years' experience of backing dynamic private and AIM quoted companies, and is one of the most active VCT investors, with 49 new private equity investments completed across the UK regions since April 2017, including 21 since March 2020.

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History of delivering profitable exits*
Maven has a track record of working with entrepreneurial businesses to drive growth and create shareholder value. Since January 2017 the Maven VCTs have achieved 16 profitable realisations of private company investments, delivering total returns of up to 6.5x original cost
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Creating shareholder value

Maven's record of successful realisations has helped the VCTs to deliver increasing Shareholder returns over the long term, including tax-free dividend payments*. Both VCTs seek, as a guide, to pay an annual dividend that represents 5% of the NAV per share (at the preceding year end).

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Investor tax reliefs

Investment in a VCT offers a number of tax incentives on subscriptions of up to £200,000  in each tax year, including tax relief of up to 30%** of the amount invested, income tax free on dividends paid, and exemption from capital gains tax on the disposal of VCT shares.

*It should be noted that historical returns and dividends are no indication or forecast of likely future realisation activity or investor returns.

**New VCT shares must be held for a minimum of five years in order to retain the upfront income tax relief (see the Prospectus issued in connection with the Offers, for further details of tax treatment).

Offers documents

An investment in the VCT Offers should be made solely on the basis of information set out in the Securities Note (including Risk Factors and the Terms and Conditions of Application), the Summary and the Registration Document here, as well as the Key Information Documents (KID) for the VCTs.

Further information

Application enquiries
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For an enquiry about an application already submitted, you should contact the Receiving Agent, City Partnership, at mavencp@city.uk.com or 01484 240 910 (lines open 09.00 to 17.30, Monday to Friday, excluding public holidays).

Allotments
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Allotments of Shares for both VCTs in respect of the 2021/22 tax year, took place on 4 February, 23 March and 5 April 2022. An allotment of Shares in respect of the 2022/23 tax year is expected to take place following the offer close date, in early June 2022.

Certificates
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Income tax relief certificates will be issued by email to each Shareholder by the Receiving Agent, City Partnership, within two Business Days of the allotment (or a hard copy certificate will be posted within ten Business Days if an Applicant has not provided an email address).

Share certificates will be issued by post by the Registrar within ten Business Days of each allotment (or CREST accounts credited within ten Business Days for a Shareholder who has their New Shares credited to CREST). Therefore, Shareholders should expect to receive share certificates for their New Shares within 14 Business Days following an allotment.

Information for Financial adviser and brokers
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Financial intermediaries looking for more information about the Offers, can contact LightTower Partners (which distributes the Maven Offers in the adviser market and specialises in tax efficient products and investment opportunities), at investor-relations@lighttowerpartners.co.uk or 020 7071 3920.

Do you have a question about the VCT Offers?

For more information about any current VCT Offers, call Maven on 0141 306 7400 or get in touch by completing this enquiry form.

VCT Offer Enquiry Form

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