VCT Fund
About the VCT Fund
The Fuel Ventures funds are a prominent early-stage investor in technology in the UK, focusing on scalable companies across marketplaces, platforms and software (SaaS). Building on the track record of the EIS funds, comes the planned launch of the Fuel Ventures VCT to invest in a more diversified portfolio of tech-enabled businesses.
The VCT will focus on investing in top-performing portfolio companies, often co-investing with Fuel Ventures' existing EIS funds. The VCT will be able to invest in companies throughout the year rather than being focused on tax year end, whilst offering greater diversification than the existing EIS funds.
Fuel Ventures Ltd is led by entrepreneur Mark Pearson who successfully exited several businesses including MyVoucherCodes and Paddle, a UK company now valued at $1.4bn. He is supported by a team of 23 people who have sourced, scaled and exited multiple businesses together.
(As at 29 November 2023)
Key Investment Criteria
- Exceptional entrepreneurs
- Proven and growing revenues
- Highly-scalable
- Capital efficient
- Multi-billion-pound market opportunities
Key Information
- Current status: Open
- Fund type: VCT
- Investment goal: Focused on Seed & Series A
- Invests in: Marketplaces, Platforms, SaaS
- Tax relief available: 30% income tax relief
The VCT Board
The Fuel Ventures VCT will have a very experienced board to oversee the investment manager, comprised of:
- Andrew Whitehouse (Chair of the VCT, Ex-Chief Risk Officer on Board of esure, Treasurer Trustee of charity, KSAR);
- Charles Elliott (Co-Founder and Fund Manager of Inflection Point Investments);
- Marc Rubinstein (Ex-Fund Manager at Lansdowne, author of Net Interest);
- Stuart Knight (Co-Founder of Titan Alternatives).
Partnership with Titan Alternatives
This is the first time that Titan Alternatives, a sector specialist, has chosen to help originate and officially promote a new VCT. Having previously raised approximately £80 million into VCTs they bring significant experience and a high-calibre of investor support.
(Titan Alternatives Limited (FRN: 974252) is acting as promoter of the Offer and is an Appointed Representative of Sturgeon Ventures LLP (FRN: 452811), which is authorised and regulated by the Financial Conduct Authority.)
Tax Benefits of VCT Investing
- 30% Income Tax Relief - You can claim up to 30% upfront income tax relief on the amount you invest, given you keep your VCT shares for at least five years.
- Tax-Free Dividends - If the VCT pays out dividends, there is no tax to pay, you won’t need to declare them on your tax return.
- Tax-Free Capital Gains - If you sell your VCT shares and make a profit, the proceeds won’t be liable for capital gains tax.
Fees and Charges - (Non-Advised Investors)
- Full initial charge: 5.5%
- Early bird discount: 3%
- Existing investors & Titan Alternatives discount: 2.5%
- Net initial charge for existing and Titan Alternatives investors: 0%
- Annual management charge: 2%
- Performance Fee: 0% (an industry first!)
An Offer for subscription in Fuel Ventures VCT plc (the “Offer”)
Titan Alternatives Limited (FRN: 974252) is acting as promoter of the Offer and is an Appointed Representative of Sturgeon Ventures LLP (FRN:452811), which is authorised and regulated by the Financial Conduct Authority.
Any decision to invest in the Offer should only be made based on information contained in the prospectus and the Key Information Document (KID). The information provided in the Presentation, herein or on the website, does not constitute advice on investments, legal matters, or taxation. Prospective investors should consult with their own independent financial adviser before making an investment in a Venture Capital Trust (VCT).
Prospective investors should be aware that the Offer is a high-risk investment and they should not invest unless they are prepared to lose the entirety of their investment. In addition, the value of an investment can fluctuate and that they may not get back the full amount they invest. There is no certainty that the market price of the shares will fully reflect the underlying net asset value, that Shareholders will be able to realise their shareholding, or that any dividends will be paid. An investment in a VCT should be viewed as a higher risk, longer-term investment. Investors should be prepared to hold their investment for a minimum of five years in order to benefit from tax relief, with such requirements and benefit subject to future regulatory change.
Fuel Ventures VCT invests in early stage, unquoted companies whose shares can fall or rise in value more than other shares listed on the main market of the London Stock Exchange. The secondary market for VCT shares is generally illiquid and investors may find it takes longer to realise their investment. Tax reliefs available on VCT investments depend on individual circumstances and may change in the future. Tax reliefs also depend on the VCT obtaining and maintaining its VCT-qualifying status.
Past performance is not a reliable indicator of future results. Forecasts are not a reliable indicator of future performance and target values may deviate when different parameters apply.
Investors in the Offer will not be covered by the Financial Services Compensation Scheme (FSCS).