Today the Association of Investment Companies (AIC) published the amount of money raised by VCTs in the 2021/22 tax year. VCT fundraising has passed the GBP1 billion milestone for the first time in the 20/21 tax year, raising GBP1.13 billion (GBP1,133 million) to be invested in small and innovative UK companies, according to the Association of Investments Companies (AIC).
This represents a 65 per cent increase compared with the 2020/21 tax year (GBP685 million) when the pandemic had an impact on fundraising. It is a 45 per cent increase on the previous record of GBP779 million in 2005/06 when the tax relief on VCT investments was 40 per cent and an increase of 55 per cent on 2018/19 when GBP731 million was raised, the highest amount when the tax relief was 30 per cent, the same as it is today.
During 2021 VCTs invested GBP668.6 million in new and follow-on investments in the UK’s small private companies and Alternative Investment Market (AIM) companies. In January and February 2022, VCTs invested GBP106.6 million in new and follow-on investments in small private companies and AIM companies.
