VCT Offers now open

New joint Offers have been launched by the four Maven VCTs. Investors can subscribe for one or more of the VCTs, on a single application form, and for both the 2022/23 and 2023/24 tax years.

Please note that the Offers will close on 4 April for 2022/23 tax year applications!


Tax efficient investment in a Maven VCT

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. For the first time in eight years all four Maven VCTs are fundraising, providing investors with access to established, highly diversified portfolios, managed by one of the most active managers in the sector. 

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About the Offers


Established Maven VCTs raising up to £40m (incl. over-allotment facilities of £10m).


fundraise, including £10 million over-allotment facilities. 


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.


minimum investment.

*The payment of dividends is not guaranteed and will be subject to a number of factors, including realisations, the VCT qualifying levels, performance, levels of cash and distributable reserves

**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 (see the Securities Note issued in connection with the Offers for further details of tax treatment).

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 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 Documents (KID) for the 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.

Maven 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 have a medium to high risk tolerance.  Investors will generally be informed investors with either experience in investing in VCTs or with an understanding of the risks involved.  If you are unsure about the risks of investing in VCTs you should always seek the advice of a regulated financial adviser.

Why invest

Manager with a proven track record

Subscription to the Offers provides access to one of the best resourced and most active managers in the VCT industry, and one of the few managers able to operate a hybrid private company and AIM investment approach in order to maximise portfolio and sector diversification.

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Established and highly diversified
Investors will gain immediate access to established VCT portfolios that are highly diversified across a range of industries and UK regions. Each portfolio is predominantly composed of ambitious earlier stage private companies selected for their high growth potential, alongside selected AIM quoted companies and later stage private company investments in more mature businesses.
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Shareholder returns and dividends

The four Maven VCTs have a long term track record of paying dividends and delivering improvements in NAV Total Return. Each VCT also seeks, as a guide, to pay an annual dividend that represents around 5% of the NAV per share (at the preceding year end).

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Tax reliefs

Investment in new VCT shares offers a range of tax benefits on subscriptions of up to £200,000 in each tax year, 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.

Fundraising to date

Funds sought

up to £40 million

Funds raised



NAV Total Return (p) per Share
 Maven VCT 1


142.67 143.26 144.32 146.25
 Maven VCT 3


144.09 144.44 152.97 151.2
 Maven VCT 4


146.51 148.93 157.48 154.16
 Maven VCT 5


79.22 79.83 84.64 84.63

The past performance of the Maven VCTs is not an indication of future performance. The value of a VCT is dependent on the performance of the underlying assets.


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
5.29p 7.44p 7.63p 2.44p
Annual yield (before taking account of initial income tax relief available under the offers)
5.07% 8.44% 7.11% 5.77%

The payment of dividends is not guaranteed and will be subject to a number of factors, including realisations, the VCT qualifying levels, performance, levels of cash and distributable reserves.

Backing some of the UK’s most ambitious smaller companies

The Maven VCTs invest in entrepreneurial companies across a range of the UK’s most vibrant sectors such as enterprise software solutions, fintech, cyber security, medtech, data analytics, training, life sciences and healthcare.


Read our portfolio brochure

Find out more about some of the exciting assets that investment into a Maven VCT will give you exposure to. 

Download here

Portfolio brochure 3D

How to invest

You or your financial intermediary can submit your application. It is easy to invest, either by applying online, or by posting or emailing an application to the receiving agent, City Partnership. The Offers will close on 4 April 2023 for the current tax year, unless fully subscribed before then. Applications are processed on a first come, first served basis.

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 email address operated by City Partnership:

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

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 communications sent by City Partnership (also check spam or junk folders), as they cannot provide other updates about the receipt or status of Applications.


For 2022/23 Applications:
Maven VCTs 3, 4 and 5 allotted shares on 8 February 2023.
Maven VCT 1 is expected to allot shares in early March 2023 (its first allotment being deferred until the start of its new financial year, in order to optimise the time available for the deployment of funds raised under the Offers).
There will be one or more further allotments by each VCT, on or before 5 April 2023.

For 2023/24 Applications, there will be one or more allotment dates by each VCT after 5 April 2023 (and the Offers are expected to close on 31 May 2023).

See Securities Note for further detail.


Following each allotment, the Receiving Agent and Registrar, City Partnership, will issue income tax relief certificates, allotment information and share certificates in relation to the New Shares issued:

An income tax relief certificate and summary of allotment details will be issued by email for each VCT, within three Business Days of the allotment (or a hard copy tax certificate posted within ten Business Days of the allotment if you have not provided an email address).

A share certificate will be issued by post for each VCT 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.

Have you got a question regarding the Maven VCT Offers?

Fill out this form to speak to one of our team or call us on 0141 306 7400.

For an enquiry about the completion of an online or paper application, you should contact the Receiving Agent, City Partnership, at or 01484 240 910.

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