The Association of Investment Companies (AIC) has released figures showing VCTs raised £882 million in the 2022/23 tax year - the third highest annual amount since VCTs were introduced in 1995.
Over the last three tax years, VCTs have raised over £3 billion, providing critical funding and support to innovative, high-growth companies across the UK that drive job creation.
Commenting on the fundraising figures, Chris Lewis, Chair of the VCTA, said:
“This year’s £882m fundraise is the third highest since VCTs were introduced in 1995. With over £3 billion raised over the last three tax years, VCTs provide critical funding and support to growth companies, which have an outsize impact on innovation and job creation.
These sustained levels of investment into VCTs demonstrate the value that is being delivered to thousands of retail investors nationwide, who in turn provide patient capital to high-potential scale-up businesses across the country.
At a time when fundraising across the broader venture capital markets has slowed, VCTs are showing their worth and outperforming the trend.”