Puma Alpha VCT launches £15m fundraise
Puma Investments has opened a new £15 million fundraise for Puma Alpha VCT. The fundraise offers an opportunity for investors to gain exposure to a diversified portfolio of scale-up, high potential businesses with the aim of providing attractive but stable returns.
Since it launched in 2019, the VCT has already demonstrated strong performance by declaring two dividends to date. All Puma Alpha VCT investors, including new investors, who are shareholders on the company's register on 28 February 2025 are eligible for an upcoming 3p dividend payable in March 20251. This will be the second dividend payment.
The total number of portfolio companies invested into by Puma Alpha VCT has increased significantly over the last two years from 10 companies to 18. The VCT has invested into scale-up businesses including the UK’s leading dedicated alcohol-free beer brand Lucky Saint, premium menswear brand Ron Dorff and fleet technology specialist CameraMatics. Last year it also made a new investment into Aveni, a provider of market-leading generative AI solutions for the UK financial services industry.
As well as the addition of Aveni, Puma Alpha VCT has also made follow-on investments into Bikmo and Thingtrax over the past 12 months, as well as investing further funds into fintech business Pockit to support its acquisition of Monese.
Puma Alpha VCT invests in high potential companies that have proven themselves in their respective markets, diversifying across sector, business model and end customer group. The experienced Puma Growth Partners investment team take an ultra-active approach, working in partnership with portfolio companies to help them achieve their growth ambitions, by supporting them on all aspects of building their businesses.
Rupert West, Fund Manager, Puma Alpha VCT, comments:
“Despite a challenging business environment in 2024, we have successfully deployed new, and follow-on, growth capital into a number of highly promising businesses across a range of sectors. We have a strong investment pipeline for 2025 and expect business and investment conditions to improve. We’re therefore delighted to have reopened the Puma Alpha VCT and to continue offering investors the opportunity to access our diversified portfolio.”
David Kaye, CEO of Puma Investments, comments:
“As we approach tax year end, VCTs continue to provide a compelling opportunity for investors to access the growth potential of private markets within a fund which also offers investors substantial tax benefits, particularly for those who may have maximised contributions to their ISA and pension.
“We are incredibly proud to see the continued success of the Puma Alpha VCT portfolio. These scale-up companies are the backbone of the UK economy, and the VCT scheme enables them to grow, innovate and create vital employment opportunities.”
As with all VCT investments, investors in Puma Alpha VCT can benefit from2:
- Upfront 30% income tax relief available to UK taxpayers on an investment of up to £200,000 per tax year
- 100% tax-free dividends
- 100% tax-free capital gains on the sale of Company shares.
Sources
1 On 15 January 2025, the company directors announced an interim dividend of 3p per ordinary share. The ex-dividend date is 27 February 2025, and the record date is 28 February 2025. Any new ordinary shares issued on or before the record date will be eligible for the dividend, as long as applications and cleared funds are received by 21 February 2025 (or, if earlier, for the first £5 million in total subscriptions). No new shares will be issued for applications received after 21 February 2025 up to the record date, or once the £5 million limit is reached. The dividend will be paid around 24 March 2025.
2 Investments need to be held for at least 5 years to qualify for income tax relief. Tax reliefs are not guaranteed and depend on the individual investor’s circumstances and may be subject to change.
Applications to invest in Puma Alpha VCT must be made by completing an Application Form which is available from a financial adviser or online at www.pumainvestments.co.uk.