The Fund at a glance
What is a VCT?
Benefits & Risks
A Venture Capital Trust is a company listed on the London Stock Exchange that invests in young, private British businesses. Investors buy shares in the trust rather than in the companies themselves, and the government offers three tax reliefs in return for taking that risk. These are:
Investors may claim back 20% of the amount invested, on up to £200,000 in a tax year. Relief is available only on newly issued shares and cannot reduce an investor's income tax liability below nil.
Dividend income will be exempt from tax. No tax credits will be repayable in respect of dividends paid. Dividends received on shares acquired in VCTs up to the qualifying maximum value of £200,000 per tax year need not be shown in the investor’s Self Assessment Tax Return.
Gains on VCT shares are free of capital gains tax when you sell.
Pembroke invests in small, young companies, and some will fail. The value of shares and the income from them can fall as well as rise, and investors may receive back less than the amount invested. Past performance is not a guide to future returns. A VCT should be treated as a long-term holding. Tax reliefs depend on individual circumstances and on VCT rules set by government, both of which may change. Pembroke does not provide financial advice. Investors who are unsure whether a VCT is suitable should consult a financial adviser.
What brings you here?
- What we look for
- What to know before you pitch
- Meet the investment team
- Founders on working with us
- Submit your deck & FAQs
- Fund performance and dividend history
- Top 10 holdings and recent exits
- Document Library
- Adviser FAQs
- Log in or register for the Adviser Hub
- Log in to the Investor Hub
- Portfolio updates
- Fund performance and dividend history
- Document Library
- Shareholder FAQs
A message from our CEO
“I was a founder before I was an investor, so I know the real expert in the room is the person building the business – not the person funding it. Our job is to back founders with the capital and the partnership they need to build something remarkable. Real progress takes time, and the best growth comes from the lessons learned along the way.
News & insights
2026/27 Share Offer now open
Pembroke is raising up to £40m for the next generation of UK founders, built for advisers placing client allocations and for investors building a diversified VCT position.
Pembroke expects to announce an unaudited net asset value increase of around 6% to 9%.
Payments company Ryft lands £20m funding for expansion
The portfolio
Business Services
Kaizan
Business Services
Bolt Insight
Business Services
Exeros
Technology