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.

About VCTs

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.

Our VCTs

ProVen VCTs
ProVen VCT

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

ProVen VCTs
PGI VCT

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

ProVen VCTs: Benefits

Income tax relief

Investors in VCTs are - provided they meet certain requirements - able to claim 30 per cent income tax relief on their initial investment.

Tax-free dividends

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.

Invest in growth

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.

ProVen VCTs: Risks

Capital at risk

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.

Liquidity

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.

Tax treatment

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.

* For full details of the risks, please see our Terms page

Behind the scenes with the portfolio

DASH Water
Jack Scott
LITTA
Aaron Georgiou

Selected exits

Zoovu

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

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

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

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.

Netcall

Netcall (formerly MatsSoft) is a software company providing web-based workflow and communications solutions.

ContactEngine

ContactEngine is a provider of automated omni-channel communications solutions.

Chess Dynamics

Chess Dynamics is a unique and independent design and manufacturing organisation.

Abzena

Abzena provides services and technologies that enable the development of better biopharmaceutical products.

Exit stories

Blis
Greg Isbister

The advertising technology company joined the ProVen VCTs’ portfolio back in 2008. Fourteen years after their initial funding, the two VCTs exited their investment in Blis in the middle of 2022.

Past performance of portfolio companies is no guide to future performance of other portfolio companies, and examples given may not be representative of average returns.

Looking to invest?

Directors

Neal Ransome
Chair: ProVen VCT

Neal Ransome

Chair: ProVen VCT

Shane Elliott

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.

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Barry Dean
Director: ProVen VCT

Barry Dean

Director: ProVen VCT

Shane Elliott

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.

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Malcolm Moss
Director: ProVen VCT & PGI VCT

Malcolm Moss

Director: ProVen VCT & PGI VCT

Shane Elliott

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.

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Lorna Tilbian
Director: ProVen VCT

Lorna Tilbian

Director: ProVen VCT

Shane Elliott

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.

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Marc Vlessing OBE
Chair: PGI VCT

Marc Vlessing OBE

Chair: PGI VCT

Shane Elliott

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.

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Anna Kuriakose
Director: PGI VCT

Anna Kuriakose

Director: PGI VCT

Shane Elliott

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

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Natasha Christie-Miller
Director: PGI VCT

Natasha Christie-Miller

Director: PGI VCT

Shane Elliott

Natasha leads the digital intelligence brands WGSN and Coloro, content and events brands Retail Week and World Retail Congress and the festival business Money20/20 at Ascential plc, the global information company.

Natasha started her career in sales and led the commercial teams on consumer brands such as Elle, Red and the EMAP parenting portfolio before taking on the role of Publishing Director of Drapers, the fashion industry bible at EMAP B2B in 2005. She then became Managing Director for the retail portfolio in 2007. Natasha was appointed CEO of EMAP in 2010 and CEO and President of Ascential Intelligence in 2015.

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VCTs: FAQs

What are the tax benefits of subscribing for VCT Shares?

How do I obtain tax relief?

Can I obtain tax relief on shares issued under the Dividend Reinvestment Scheme?

Get in touch

The ProVen products are managed by Beringea, a specialist award-winning venture capital firm. If you have any questions, you can contact us at:

020 7845 7820 | info@beringea.co.uk

020 7845 7820
info@beringea.co.uk

About Venture Capital Trusts

The UK Government first introduced Venture Capital Trusts (VCTs) in 1995 as a way of encouraging individuals to invest in unquoted UK companies. In addition to the potential returns offered by investing in such companies, VCTs provide eligible investors - UK taxpayers aged 18 or over - with significant tax benefits.

A VCT invests primarily in a portfolio of SMEs which qualify for investment under the VCT regulations. The SME sector is a vital part of the UK economy accounting for three-fifths of all private sector employment and around half of turnover. Some of these companies have the potential to grow very quickly given access to sufficient finance and management support.

Our VCTs

ProVen VCT

ProVen VCT plc is a venture capital trust that invests in a diversified portfolio of VCT-qualifying unquoted companies. The companies are selected by the Manager as having, in its opinion, significant potential for growth.

Find out more

ProVen Growth & Income VCT

ProVen Growth & Income VCT Plc (PGI VCT) is a venture capital trust that invests in a diversified portfolio of VCT-qualifying unquoted companies. The companies are selected by the Manager as having, in its opinion, significant potential for growth.

Find out more

Our portfolio

Analysing the net asset value (“NAV”) total return since  launch, ProVen VCT has a NAV total return of £189 for every £100 invested and its annual rate of return since launch, including initial income tax relief, is 9.6% p.a..

View portfolioView current exits

Tax FAQs

What are the tax benefits of subscribing for VCT Shares?

How do I obtain Tax Relief?

Can I obtain tax relief on shares issued under the Dividend Reinvestment Scheme?

A title about shareholder information.

Neal Ransome

Chairman - Proven VCT

Neal Ransome

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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Barry Dean

Director - Proven VCT

Barry Dean

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Malcolm Moss

Director

Malcolm Moss

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Lorna Tilbian

Director - Proven VCT

Lorna Tilbian

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Marc Vlessing OBE

Chairman - PGI VCT

Marc Vlessing OBE

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Natasha Christie-Miller

Director - PGI VCT

Natasha Christie-Miller

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Anna Kuriakose

Director - PGI VCT

Anna Kuriakose

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Maria Wagner

Partner

Maria Wagner

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ProVen VCTs are open for investment
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