VCT fundraising dips 18% to £882m but remains third highest on record

Association of Investment Companies

VCT fundraising reached £882m in the 2023/24 tax year, according to data from the Association of Investment Companies.

The AIC noted the last tax year marked the third highest fundraising by VCTs, despite falling 18% from just over £1bn in 2022/23. The sector's record was reached in the 2021/22 financial year, when fundraising hit £1.1bn, meaning that in the last three tax years, VCTs raised more than £3bn. Investment into VCTs hits £144.5m in four weeks as tax year end looms Richard Stone, CEO of the AIC, said: "The continued strong fundraising by VCTs will be a great benefit to the UK's innovative young businesses in a challenging environment. "This support has an impact beyond the businesses ...