VCT Offers now open

The four Maven VCTs have launched new share Offers. Investors can subscribe for one or more of the VCTs, and for one or both of tax years 2023/24 and 2024/25.

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We are accepting applications

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Download the Securities Note


Tax efficient investment in a Maven VCT

We are pleased to announce that the Maven VCTs have launched new share Offers to raise up to £30 million. Investors have the opportunity to subscribe for new shares in each of the Maven VCTs, which back some of the most ambitious, growth focused smaller companies in the UK, and benefit from a range of attractive tax reliefs.

Target Market: 
VCTs are intended for UK taxpayers aged 18 or over with an investment horizon of five or more years and who are able to bear up to 100% capital loss and with a medium to high risk tolerance. Investors in the VCT will generally be informed investors with either experience in investing in VCTs or with a knowledge and understanding of the risks involved.

About the Offers


Established VCTs, with a long term record of positive shareholder returns.


fundraise, including £10 million aggregate over-allotment facilities. 


amount raised to date (25 February 2024).


Target annual dividend yield (% of NAV per share).


Private and AIM quoted holdings in companies selected for their high growth potential.


initial tax relief, as well as tax free dividends and exemption from capital gains tax.

*The payment of dividends is not guaranteed.

**New VCT shares must be held for a minimum of five years in order to retain the initial income tax relief. Tax reliefs available are dependent on the investor's individual circumstances.

Why invest

Manager with a proven track record

Invest with one of the best resourced and most active managers in the VCT industry, and one of the few managers able to operate a private company focused investment approach alongside selected investment in AIM in order to maximise diversification.

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Established and highly diversified portfolios
Immediate access to established VCT portfolios predominantly composed of ambitious earlier stage private companies selected for their high growth potential, across a range of sectors.
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Shareholder returns and dividends

The Maven VCTs have a long term track record of paying dividends and delivering improvements in NAV Total Return, as well as a target annual dividend of 5% of the NAV per share (at the preceding year end).

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Attractive tax reliefs

A range of tax benefits, including income tax relief of up to 30% of the amount invested, tax free dividends and exemption from capital gains tax on the disposal of VCT shares.

Bill Nixon, Managing Partner at Maven, talks about the new offers from the Maven VCTs.



Maven VCT 1
Maven VCT 3
Maven VCT 4
Maven VCT 5
Average tax free annual dividend per Share over past five full financial years
4.61p 5.17p 5.89p 2.50p
Annual yield (before taking account of initial income tax relief available under the offers)
5.07% 5.04% 5.01% 8.98%

As at 13 October 2023

Invest in a portfolio of ambitious smaller companies

Highly diversified, established portfolios of over 85 entrepreneurial UK businesses.
Bright Network
Recruitment Services
Quorum Cyber
Cyber Security
Hospitality Software
Rockar Tech
E-commerce Software
Nano Interactive
Baby Care Products

Want to know more about the highly diversified portfolio?

Download this handy guide which offers greater insight into a selection of the exciting private company assets currently held in the Maven VCT portfolios. 

Download here

Portfolio brochure 3D

Document Library

Investors should read the Securities Note in full before applying and any decision to invest should be made on the detail held within this document. Maven has also created an Investor Brochure providing a bitesize introduction to the Offers.

The other supplementary documentation available may be of use to existing Shareholders, new VCT investors, and advisers when considering an investment in a Maven VCT.

How to invest

Apply online, or by emailing or posting an application to the receiving agent, City Partnership.

Apply Online

Submit your application online through the application portal operated by City Partnership:


Apply Online

Apply by Email

Submit a scanned paper application to the following City Partnership email address:


Apply by Email

Apply by Post

Post a completed application form to:

Maven VCT Offers
The City Partnership (UK) Ltd
The Mending Rooms
Park Valley Mills
Meltham Road
Huddersfield HD4 7BH

Further information

Submitting your application and funds

An application cannot be accepted until cleared funds are received, so funds should be submitted at the same time as the application (allowing time for a cheque to clear by any relevant deadline). Where possible payment should be by bank transfer rather than cheque, as an application cannot be accepted if cleared funds have not been received by City Partnership when an Offer closes or an application deadline applies. See the Application Notes and Instructions.

Application enquiries

For an enquiry about the completion of an online or paper Application Form, you should contact the Receiving Agent, City Partnership, at or 01484 240 910 (lines open 09.00 to 17.30, Monday to Friday, excluding public holidays). 

If you have an enquiry about Applications and payments already submitted, you should refer to the acknowledgement email or letter sent by City Partnership (for emails also check spam or junk folders), which provides a link to City’s online tracking service where you can view the latest processing and acceptance status of the application and view/download a PDF copy. City cannot provide other updates about the receipt or status of Applications.


There will be one or more allotments by each Maven VCT in each tax year, which will be on dates that allow each Maven VCT and the Manager to optimise the deployment of funds raised and ensure that VCT qualifying status is maintained. Allotments will be announced through a Regulatory Information Service. 

For 2023/24 Applications:
Shares will be allotted on one or more dates, on or before 5 April 2024, to be determined by the Directors.
The first allotments for Maven VCTs 3 and 5 took place on 19 December 2023, with a further allotment on 8 February 2024.
The first allotments for Maven VCTs 1 and 4 took place on 17 January 2024, with a further allotment on 8 February 2024.
Further allotments will take place on one or more dates, on or before 5 April 2024, to be determined by the Directors.

For 2024/25 Applications:
Shares will be allotted after 5 April 2024 and on or before 1 May 2024 (and/or any other date determined by the Directors prior to the close of the relevant Offer). 

See Securities Note for further detail.


Following each allotment, the Receiving Agent and Registrar, City Partnership, will issue the following information and certificates in relation to each VCT you apply to:

An income tax relief certificate will be issued by email from City Partnership to the applicant (and their financial intermediary), within three Business Days of the allotment. The email will provide a link to City’s online tracking service where a summary of allotment details and the ITRC can be downloaded. If an email address has not been provided on the application form, a hard copy tax certificate will be posted within ten Business Days of the allotment.

The Registrar, City Partnership, will issue a share certificate by post within ten Business Days of each allotment (or CREST accounts will be credited within ten Business Days). Therefore, Shareholders should expect to receive share certificates within 14 Business Days following an allotment.

Information for Financial adviser and brokers

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 or 020 7071 3920.

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