Maven launches new £20M VCT Offers for 2026/27
Maven Capital Partners has launched new joint share offers to raise up to £20 million across its four Maven Income and Growth VCTs.
The Offers give advisers and their clients access to:
- VCTs with a 6% annual dividend target
- More than 125 private and AIM-quoted companies across the VCTs
- 20% initial income tax relief, alongside tax-free dividends and exemption from capital gains tax
- A strong investment record, with 17 new private companies added to the portfolios since September 2023
- 14 profitable exits since September 2023 in support of the dividend programme, including Quorum Cyber at 8.2x cost, Novatus Global at 4.68x cost, and MirrorWeb at up to 4.5x cost
Each VCT will initially seek to raise up to £5 million (totalling £20 million), with an over-allotment facility of up to a further £5 million, raising the maximum aggregate fundraising to £40 million.
Ewan MacKinnon, Investment Partner at Maven, said: “Maven has been investing through VCTs for more than 20 years, with a strong record of profitable exits and access to exciting new opportunities across the UK.
The reduction in initial income tax relief to 20% makes the choice of VCT and manager even more important, as advisers look beyond the tax benefits and focus on the quality of the portfolio, the experience of the manager, and their track record of investing and creating value.
The Maven VCTs invest across a wide range of sectors including software, defence, cybersecurity, AI and data, advanced manufacturing, and specialist engineering.
Each VCT targets an annual dividend equivalent to 6% of NAV per share, and has met or exceeded that target since it was increased in 2024.
The Offers also follow changes to the VCT rules from 6 April 2026, which doubled the annual amount a VCT can invest in a qualifying company to £10 million and increased the lifetime investment allowance to £24 million.
An Early Investment Incentive is available for valid applications received with cleared funds by 5 February 2027, reducing the Offer Administration Fee by 1.5% for qualifying existing Maven shareholders and by 1.25% for new investors.
