Today the Association of Investment Companies (AIC) published the amount of money raised by venture capital trusts (VCTs) in the 2022/23 tax year. VCT fundraising has passed the £1 billion milestone for the second time, amounting to £1.08 billion to be invested in young and ambitious UK companies.

This is the second highest fundraising ever by VCTs and represents a 5% decrease compared with the 2021/22 tax year (£1.13 billion) which was a record year for fundraising.

During the 2022 calendar year, VCTs invested £700 million in new and follow-on investments in small private companies and Alternative Investment Market (AIM) companies in the UK. The lion’s share, £652 million (93%), was invested in private companies with £48 million invested in AIM-quoted companies.

In 2021 VCTs invested £672 million in new and follow-on investments. Of this, £539 million (80%) was invested in private companies and £133 million was invested in AIM companies.

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