Investments in Venture Capital Trusts (VCTs) will place capital at risk and investors may not get back the full amount invested. Any tax relief referred to may be subject to change and will depend on the investor’s individual circumstances. Please note that any reference made to past performance or forecasted performance of our products is not a reliable indicator of future results.
None of the information provided on this website is investment or tax advice, and we always recommend you speak to a financial adviser before investing. An investment in VCTs may not be suitable for all investors. You should always read the associated risks before deciding whether to invest. These can be found in the prospectus relating to any offer as well as on the VCT product pages for the ProVen VCTs.
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The ProVen VCTs are two of the UK's largest and longest-standing Venture Capital Trusts (VCTs). For more than twenty years, ProVen VCT and ProVen Growth & Income VCT have been delivering returns for shareholders through backing UK entrepreneurs to build innovative growth companies.
The UK Government first introduced Venture Capital Trusts (VCTs) in 1995 to foster investment into early-stage companies. Today, VCTs manage more than £6 billion, providing a vital source of funding and support for innovation, economic growth, and job creation throughout the UK.
VCTs are publicly-listed companies that raise funding from UK taxpayers, who in turn receive 30 per cent income tax relief from the government. This partnership between public and private investment has proven to be an innovative solution to providing the necessary patient capital to build a robust and diverse funding ecosystem for the UK's smaller companies.
To find out more about the vital role played by VCTs in the UK, please visit the website of the Venture Capital Trust Association.
Established in 2000, ProVen VCT today manages more than £160m and investments spanning more than 50 companies.
Over the past five years, ProVen VCT has delivered an annualised return of 6.4%*. However, past performance is not a reliable indicator of future success.
*Includes the effect of initial 30% tax relief upon investment
Established in 2001, ProVen Growth & Income (PGI) VCT today manages more than £160m and investments spanning more than 50 companies.
Over the past five years, PGI VCT has delivered an annualised return of 7.3%*. However, past performance is not a reliable indicator of future success.
*Includes the effect of initial 30% tax relief upon investment
Investors in VCTs are - provided they meet certain requirements - able to claim 30 per cent income tax relief on their initial investment.
Provided you meet certain requirements, you will not pay tax on any dividends received from the ProVen VCTs, nor will you pay capital gains tax on disposal of your shares.
With a portfolio of more than 50 early-stage companies, the ProVen VCTs play a vital role in economic growth, technological innovation, and social and environmental impact.
The early-stage nature of the companies that we back means an investment in VCTs can be more volatile than other products, the value of your investment may fall, and there is potential that you may get out less than you put in.
To qualify for up-front income tax relief, you will need to hold your investment for more than five years, and you may find your shares harder to sell than other investments.
Your ability to claim tax relief on your investment and any income from dividends will be subject to your personal circumstances. We are unable to provide tax advice. UK tax rules and regulations are subject to change.
Zoovu provides a software platform used by e-commerce companies to guide users through online decisions.
In 2022, the ProVen VCTs successfully completed a partial exit of Zoovu as part of a $169m funding round led by FTV Capital.
Chargemaster is a leading provider of electric vehicle charging infrastructure in the UK, with thousands of charging points nationwide.
In 2018, the ProVen VCTs realised their investment in Chargemaster when the business was acquired by BP.
Watchfinder is a platform for buying and selling pre-owned luxury watches, which led the rise of the secondary watch market in the UK.
The ProVen VCTs exited their investment in Watchfinder as part of an acquisition by Richemont, the Swiss luxury group, in 2018.
Monica Vinader is an award-winning British demi-fine luxury jewellery brand.
The ProVen VCTs successfully exited their investments in Monica Vinader in 2023, as part of a strategic investment by Bridgepoint.
Neal was formerly a corporate finance partner of PwC with extensive experience as a lead adviser on M&A activity in the pharmaceuticals and healthcare sectors. Neal is currently a non-executive director and chairman of Octopus AIM VCT plc and a non-executive director of Polar Capital Global Healthcare Trust plc.
Barry has over 30 years’ experience in the venture capital industry, including 14 years as Managing Director of Dresdner Kleinwort Benson Private Equity Limited, a longstanding 'mid-market' private equity fund manager. He is currently a director of Downing One VCT plc and recently retired from the board of Draper Esprit VCT plc.
Malcolm is a Founding Partner of Beringea. Over the last 20 years, he has been responsible for the growth, development and management of the private equity business of Beringea in both the UK and the USA.
In addition to sitting on the boards of ProVen VCT plc and ProVen Growth & Income VCT plc, he sits on the investment committees of Beringea’s four other venture capital funds and as a non-executive director on several portfolio company boards.
Prior to founding Beringea, Malcolm gained Europe-wide industrial, planning and analytical experience in healthcare, engineering and financial services with Baxter International, Uniroyal Inc., and Lloyds TSB Group. Malcolm has a MBA from Kingston Business School and a degree in Business Studies.
James is an experienced Non-Executive Director, Chair and Adviser with a background in private equity and venture capital investing. James qualified as an Accountant with PwC before moving into analyst and portfolio director roles with Lloyds Development Capital and Gresham Private Equity where he was Head of Portfolio Management. From 2014, James has been Chair of a number of companies operating in various industries, with particular emphasis on managing fund raisings and sale processes.
Lorna was formerly an executive director of Numis Corporation plc and a director of WestLB Panmure Limited and S G Warburg Securities. She is currently chairman of Dowgate Capital Limited and a director of Dowgate Wealth Limited.
Lorna also serves as a non-executive director on the board of FTSE 250 constituent Finsbury Growth and Income Trust plc and FT-SE 100 company Rightmove plc.
Marc started his career as a corporate financier with County NatWest in 1984. In 1991, he set up his own management consultancy specialising in the media sector. In 1997 he became Chief Executive of one of London’s largest groups of theatres, cinemas and TV companies (Crescent Entertainment). Subsequently, he became Chief Executive of First Call International.
He is co-founder and CEO of Pocket Living, the first private developer in London to specialise in helping hard-working city makers, on low to moderate incomes, own their first home with backing from the Mayor of London and Related Companies in New York.
Anna has over 23 years of experience building and scaling successful businesses. She is currently director of Product Management at Facebook and was previously Chief Product Officer at TotallyMoney.
Anna has also led product teams at companies including JustGiving, Evrythng, Monitise and Skype. She is the founder of ScaleupLean, an advisory business providing strategy consultancy to technology companies
Natasha was President/CEO of Ascential Intelligence for six years, a portfolio of digital intelligence brands including WGSN, the world’s leading trend forecaster, Groundsure, the UK’s top environmental data supplier for conveyancers, and the festival business Money20/20 at Ascential plc, the global information company. Prior to that, she was CEO of Emap from 2010 to 2015.
She started her career in sales and led the commercial teams on consumer brands such as Elle, Red and the EMAP parenting portfolio. Natasha has a long history of growing B2B businesses and selling them to strategic or private equity buyers. Natasha is Chairwoman of Sifted, a Financial Times and PE-backed media business for start-ups, on the Board of Proven Growth and Income Plc, and a Trustee of Just Like Us.
Natasha is currently an advisor to a number of businesses including TED Conferences LLC, Moonshot and Walking On Earth.
The ProVen products are managed by Beringea, a specialist award-winning venture capital firm. If you have any questions, you can contact us at:
Neal is a chartered accountant and was a former Partner at PwC, where he was Chief Operating Officer of PwC's Advisory business and led its Pharmaceutical and Healthcare Corporate Finance practice. Neal is also a director of Octopus AIM VCT plc and Polar Capital Global Healthcare Trust plc.
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