The Pembroke VCT
Fund Overview
Pembroke VCT focuses on early-stage investments in the Consumer, Technology, and Business Services sectors. Established in 2012, it has raised over £270 million to date and has invested in 65 companies. As of June 2024, the fund's net assets stand at £224 million, with a NAV per share of 104.6p.
The minimum investment is £3,000, with a target dividend yield of 5p per share annually.
Investment Strategy
Pembroke VCT follows a strategy centered on:
- Sector Focus: Consumer, Technology, and Business Services.
- Early-Stage Investments: Founder-led businesses with significant growth potential.
- Diverse Portfolio: Aims for 10-15 new or follow-on investments annually.
- Exit Plan: Targets profitable exits within 4-7 years.
Recent highlights include investments in LYMA, SeatFrog, and Peckwater Brands, with multiple companies achieving valuations exceeding £50 million.
Performance Metrics
| Year | NAV Total Return (%) | Dividends Paid (p/share) |
|---|---|---|
| 2024 | 4.8 | 5.0 |
| 2023 | 3.9 | 5.0 |
| 2022 | 3.5 | 5.0 |
Cumulative Dividends: Shareholders have received over 39p per share in dividends since inception.
Tax Benefits
Investors benefit from:
- 30% income tax relief: Available on investments up to £200,000 annually.
- Tax-free dividends: Receive regular income payments without tax obligations.
- Capital gains tax exemption: No CGT on share disposals.
Tax treatment depends on individual circumstances and may change.
Fund Documents
Contact Information
- Phone: 020 7766 6900
- Email: [email protected]
- Website: Pembroke VCT
Why Consider Access EIS Instead?
Both Pembroke VCT and Access EIS provide tax-efficient investment opportunities, but they cater to different investor needs:
| Feature | Pembroke VCT | Access EIS |
|---|---|---|
| Investment Focus | High-growth Consumer, Technology, and Business Services sectors | Early-stage, high-growth UK startups |
| Minimum Investment | £3,000 | £5,000 |
| Tax Benefits |
- 30% Income Tax Relief - Tax-Free Dividends - Capital Gains Tax Exemption |
- 30% Income Tax Relief - Capital Gains Tax Deferral |
| Liquidity | Limited liquidity through buyback schemes | Illiquid, with returns realized after ~5–7 years |
| Dividends | Regular, tax-free dividends | No dividends; all profits reinvested |
| Risk Level | Moderate to High | Very High |