The event, attended by investors, entrepreneurs, and policymakers, featured a keynote speech from Exchequer Secretary to the Treasury, James Murray MP, reaffirming the government's recognition of VCTs as a vital part of the UK’s funding landscape for early-stage businesses.

Since its inception in 1994, the VCT scheme has grown into a cornerstone of the UK’s venture capital ecosystem. Today, VCTs collectively manage over £6.5 billion, supporting a portfolio of more than 1,000 startups and scaleups, which together employ more than 100,000 people.

Former Chancellor of the Exchequer and President of VCTA, Lord Ken Clarke, who introduced the scheme as part of his 1994 Budget, reflected on its impact: “When I stood at the despatch box in 1994 to deliver my Budget, it was clear to me that the UK had a tremendous opportunity to build a thriving venture capital industry. The framework we put in place – balancing tax incentives with risk capital in a model that prioritised robust governance and diversification – has stood the test of time.”

VCTs have played a critical role in positioning the UK as a global hub for venture investment.

Chris Lewis, Chair of VCTA, commented on the industry’s resilience and future prospects: "The UK is one of a handful of globally significant hubs for venture capital today. As we celebrate 30 years of VCTs, we recognise the critical role they continue to play in backing the next generation of high-growth businesses. We have a real opportunity to futureproof the UK’s status as a world-leading hub for venture capital but we ask for government support to enhance the VCT rules so they remain current and tailored to today’s start up ecosystem.”

Looking ahead, the VCTA is calling for continued government support to ensure that VCTs can remain a powerful force in scaling businesses, fostering innovation, and creating economic opportunities across the UK.

The 30th Anniversary Report outlines proposals to:

• Increase VCT investment limits to ensure funding keeps pace with the needs of today’s fast-growing companies; otherwise inflation will continue to erode the investment powers of VCTs
• Extend the age limits to stimulate regional investment and ensure high-growth businesses outside of the south-east receive the backing they need.
• Support diversity in venture capital, particularly increasing funding access for female founders and minority-led businesses.

The anniversary event celebrated the founders of startup businesses, highlighted success stories from VCT-backed companies and reinforced their impact in driving UK economic growth, job creation, and global competitiveness.

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