VCTs provide patient capital and investment expertise to scaling businesses throughout the UK. In turn, these start-ups and scale-ups will often have an outsize impact on economic growth, job creation, technological innovation, and productivity.
2023 saw a number of notable investments, including Albion’s participation in Quantexa’s Series E funding round which saw it become the first British ‘unicorn’ of 2023, and Transreport’s £10m funding round which included investment from Pembroke and Puma VCTs.
Backing earlier, for longer
The data published today by the VCTA highlights the industry’s resilient focus on providing evergreen patient capital to breakthrough businesses, providing early-stage firms with the funding, time and support needed to reach their growth potential. Across all investments, the average age of a company receiving its first funding from a VCT in 2023 dropped to 5.2 years, the lowest figure on record, and consistent with the trend over recent years.
