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. 

    HubSpot Video

     

    About the Offers

    4

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

    £40m

    fundraise, including £10 million over-allotment facilities. 

    5%*

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

    90+

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

    30%**

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

    £5,000

    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

    list
    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.

    Diversified portfolio icon 2
    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.
    graph (1)
    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).

    30% icon
    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

    £20.35m

    Performance

     
    NAV Total Return (p) per Share
    		        
     
    2018
    2019
    2020
    2021
    2022
     Maven VCT 1

    140.56

    		 142.67 143.26 144.32 146.25
     Maven VCT 3

    143.66

    		 144.09 144.44 152.97 151.2
     Maven VCT 4

    145.37

    		 146.51 148.93 157.48 154.16
     Maven VCT 5

    78.99

    		 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.

    Dividends

     
    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.

    FREE EBOOK / DOWNLOAD

    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
    arrow

    For an enquiry about the completion of an online or paper Application Form, 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). 

    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.

    Allotments
    arrow

    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.

    Certificates
    arrow

    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
    arrow

    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.

    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 mavencp@city.uk.com or 01484 240 910.

    Subscribe for email updates

    close