Gresham House has announced a £50 million share offer for its Baronsmead Venture Capital Trusts, comprising an initial £30 million offer with a £20 million over-allotment option. The Baronsmead VCTs, which have a strong track record dating back to 1995, currently manage combined net assets of £433 million.
The trusts demonstrated their continued appeal to investors in 2024, exceeding their £30 million fundraising target to secure £50 million despite challenging market conditions. The managers hope to replicate this success in 2025.
The Baronsmead VCTs distinguish themselves through a hybrid investment approach, unique among VCTs of their size, dividing their portfolios between AIM-quoted and unquoted companies. This strategy aims to provide investors with enhanced diversification and liquidity to support regular tax-free dividend payments.
Recent notable investments include £2 million in Much Better Adventures and £2.4 million in OnSecurity for their unquoted portfolio, alongside £4.3 million in IntelliAM and £1.4 million in Earnz within their quoted investments.
Earnz was included in UK Investor Magazine’s ‘Top 20 Stock Picks for 2025’.
“Venture capital trusts play a vital role in supporting the UK’s SME landscape, which is critical to delivering growth for the wider economy. Demand for VCTs remains strong in light of continued support for the vehicles in the recent Budget, so we are excited to be launching this share offer for the proven Baronsmead VCTs at this time,” said James Hendry, investment director at Gresham House, and manager of the Baronsmead VCT.
“Our deep expertise, disciplined investment strategy and an extensive network have consistently helped us to uncover and support exciting early-stage companies led by dynamic entrepreneurs across a range of evolving sectors. This fundraise will provide further capital to support more high-growth UK businesses and build on our existing track record of delivering outstanding returns for investors.”