Proven VCTs launch £40 million fundraise

by London-TV in Business

The Proven VCTs have launched an offer for up to £40 million (£15 million + £5 million overallotment each)
The VCTs have total net assets of £341.1 million and a portfolio of over 50 companies
The Proven VCTs invest across a broad spectrum of companies. While it backs businesses in the classic venture capital sectors of B2B software and business services it also invests in the less well-trodden consumer sector where it has enjoyed some notable successes
Over the five years to September 2025 the VCTs delivered an average NAV total return of 19.7%
The VCTs target an annual dividend equal to 5% of NAV

Nicholas Hyett, Investment Manager at Wealth Club commented:

“Two things set the Proven VCTs apart in a crowded marketplace – the manager’s international outlook and a willingness to venture into less frequented parts of the market.

Uniquely among VCTs, manager Beringea has offices on both sides of the Atlantic. That foothold has been an asset to investee companies looking to crack America, providing insights into US trends and a guiding hand in a market that has seen many a promising UK start-up flounder. That is perhaps most useful in the trusts’ more consumer orientated investments.

Consumer companies are often viewed with suspicion by venture investors. Expansion is capital intensive, requiring big marketing and store opening budgets, and changing tastes mean there’s always a risk initially successful products turn out to be a flash in the pan. However, Proven has historically enjoyed success in an otherwise challenging part of the market – with companies like jewellery brand Monica Vinader and luxury watch marketplace Watchfinder both successfully exited at appealing valuations.

The Proven VCTs bring something a little different to many VCTs, and the current portfolio includes promising names such as lunch destination Farmer J, camera resale platform MPB and alcohol-free beer brand Lucky Saint. For investors with a portfolio of more traditional B2B focused VCTs that might offer an attractive bit of diversification.”