Register on Zoom for live webinar on Wednesday 19th November at 12:30pm
In the light of the 30th anniversary of the Venture Capital Trust (VCT) scheme, Hardman & Co is delighted to announce its first VCT Forum, 'VCTs – growing importance in taxing times', in association with GrowthInvest.
The VCT scheme, introduced in the UK in 1995, has played a significant role in supporting high-growth, early-stage, innovative businesses across the country, with fundraising reaching record levels in recent years.
Are you considering VCT investments for yourself or your clients? We invite you to join on Wednesday 19 November at 12.30pm on Zoom. You’ll hear from some high profile VCT fund managers, presenting exciting investment opportunities.
Why join the webinar?
- Diversification: Hear how VCTs work and how they can diversify an investor’s portfolio;
- Tax planning: Find out why VCTs are an important option for tax planning;
- Different strategies: Learn about the strategies of several different managers;
- Expert insights: Gain insights into the VCT market and trends.
Who is speaking?
Blackfinch Group
Blackfinch Group is pleased to announce the latest fundraise for Blackfinch Spring VCT, following a 54% year-on-year NAV growth. The fund is seeking to raise £40 million consisting of an initial £20 million raise with an over-allotment of a further £20 million. Building on its strong track record, Blackfinch Spring VCT continues to target 5% annual dividends for investors while broadening its focus into emerging and high-growth sectors, including space technology, hydrogen technology and sensor technology. This represents an exciting opportunity for retail investors to participate in the next wave of innovation driving the UK’s growth economy.
Nic Pillow, Ventures Director
Nic Pillow is an entrepreneur and leader in B2B technology. He co-founded his own startup, Rhizome Live, a Software-as-a-Service business in the Education Tech sector. He raised £400k and gained access to a top accelerator. Prior to that he led a global team at Nokia which exercised portfolio control over 15 of their software products that grew in annual revenue from £50 to £250 million. Previously, Nic held roles including Product Manager at Logica and Solution Architect at Portal Software. Nic holds a first-class degree in Engineering & Computing from the University of Oxford and a PhD in Computer Vision from the Robotics Research Group at the University of Oxford.
Foresight Group
Foresight Group With over 40 years of investing in fast-growing small and medium sized enterprises, Foresight Group now has over £13.2 billion of assets under management and a wide and varied investor base of private and institutional investors. This includes Foresight‑managed Venture Capital Trusts and Enterprise Investment Schemes, which currently have c.49,000 investors. Foresight’s wider private equity team has managed 100 exit processes since 2010 and delivered an average return of 3x.
Foresight Technology VCT invests into a portfolio of early-stage deep-tech and engineering companies with innovative and potentially transformational technologies addressing some of the world’s most pressing problems; including climate change; increasing geopolitical tensions; data and cyber security. Foresight's Ventures team is one of the most experienced deep tech investors in the UK, and whilst investing in deep technology has previously been the reserve of institutions, this deep technology investment strategy is developing an encouraging track record for retail investors, recently delivering a 16x and 3x return on invested capital.
Richard Roberts, Head of Sales Development
With over 25 years' experience in financial services, private equity and the alternative investments sector, Richard Roberts is responsible for developing strategic partnership relationships with IFA networks, nationals and service providers across the UK. He has a keen focus on providing thought leadership, technical support and solutions using tax efficient investments, for wealth managers and their clients. Richard is a Chartered Fellow of the Chartered Institute of Securities and Investments, and the Chartered Management Institute.
Guinness Ventures
Guinness Ventures Part of the Guinness Asset Management group, Guinness Ventures has been investing in early-stage businesses since 2010. The group focuses on providing scale-up capital to exciting British companies, with more than £325 million invested into EIS & VCT qualifying companies.
Since launching in 2022 the Guinness VCT has built a diversified portfolio of high-growth UK companies across technology, healthcare, education, and consumer sectors. The Guinness VCT is focused on identifying and investing in growth companies that require scale-up capital across multiples sectors. These are businesses that have already proved their product, service or technology and are raising funds to roll out to a bigger audience.
Will Clark, Head of Business Development
Will Clark joined Guinness Ventures in 2019 and is responsible for its relationships with intermediaries across the UK. He has over 15 years of financial services experience including more than 10 years focused on EIS & VCT distribution.
Mercia Asset Management
Mercia Asset Management Mercia partners with leading institutional investors, wealth managers and family offices to deploy capital into the UK regions into companies with high-growth potential. Its model blends access to proprietary deal flow with active portfolio stewardship and a commitment to sustainability and responsible investing. The Northern VCTs were established between 1995 and 2001 and are among the longest established VCTs in the market. Since inception to 31 March 2025 they have invested over £670 million in more than 270 companies. The Mercia Group had £2.0 billion of assets under management of which approximately £1.8 billion is represented by third-party funds, including the Northern VCTs’ net assets, totalling £416 million. The combination of the Northern VCT’s long-established position as a successful investment fund and Mercia’s venture credentials has created one of the leading UK venture fund management groups.
The Northern VCTs generally make equity investments of £3-10 million in UK-based unquoted companies that have high growth potential, and continue to support these investments through follow-on funding as they grow. Investment activities are based on the belief that the biggest determinants of successful investment outcomes are the quality of the leadership team and the size and scale of the market opportunity being pursued. Each investment made is aligned to these principles. Mercia Northern VCTs are managed by Mercia Fund Management Limited.
Dr Paul Mattick, Head of Sales and Private Investor Relations
Paul Mattick heads the Retail Distribution for Mercia. He works with private clients, advisers and family offices to build exposure to UK’s high-growth private market companies. Paul oversees the administration and development of Mercia’s retail funds, including EIS and VCT, plus ensures that investors receive a high level of service. Paul has a variety of experience in early-stage businesses (including being a founder), and formerly worked at another leading EIS fund manager, where he built close relationships with top tier clients, and significantly grew both fund and single company assets under management. Paul has a PhD and Post-Doctorate from the University of Oxford and a first-class Bachelor of Science from the University of Leeds.
Disclaimer
These presentations are provided by product providers to raise investors’ understanding of the Venture Capital Trust (VCT) market. They should not be considered as financial advice and retail investors should seek independent financial advice. Each investor must make his or her own independent decisions and obtain their own independent advice regarding any information, projects, securities, tax treatment or financial instruments mentioned herein. The fact that Hardman & Co has made/will make this content available through this constitutes neither a recommendation to enter into a particular transaction nor a representation that any financial instrument is suitable or appropriate for you. Each investor should consider whether an investment strategy of the purchase or sale of any product or security is appropriate for them in the light of their investment needs, objectives and financial circumstances.
VCTs are classified by the Financial Conduct Authority as ‘Complex Investments’, which means that investment in them is limited to professional investors and retail investors who pass an ‘Appropriateness Assessment’. Essentially, retail investors will need to demonstrate that they qualify as a ‘certified high net worth investor’, a ‘certified sophisticated investor’ or a ‘self-certified sophisticated investor’ before being allowed to invest.
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