The Puma Alpha VCT
Fund Overview
Puma Alpha VCT, managed by Puma Investments, focuses on scaling UK businesses with a proven commercial proposition. As of August 2023, the VCT had net assets of £26.95 million, investing in 16 portfolio companies across diverse sectors. The fund seeks to provide investors with long-term capital growth and regular tax-free dividends, aiming for an average annual dividend of 5p per share.
Investment Strategy
Puma Alpha VCT targets scale-up businesses with a strong market proposition and management expertise. The investment strategy includes:
- Sector-Agnostic Approach: Investments span sectors like software, logistics, advanced manufacturing, and HR technology.
- Portfolio Diversification: Aims to mitigate risk by diversifying across industries and companies.
- Active Support: Provides portfolio companies with strategic advice and follow-on investments to drive growth.
Recent Highlights:
- Recent investments include IRIS, Thingtrax, and Bikmo.
- The fund focuses on capitalizing on businesses with depressed valuations during market downturns.
Performance Metrics
| Year | NAV Total Return (%) | Dividends Paid (p/share) |
|---|---|---|
| 2024 | - | 5.00 |
| 2023 | - | - |
| 2022 | - | - |
Note: Puma Alpha VCT began distributing dividends in November 2023.
Tax Benefits
Investors benefit from:
- 30% income tax relief: Available for investments up to £200,000 annually.
- Tax-free dividends: Regular income 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 7408 4100
- Email: [email protected]
- Website: Puma Alpha VCT
Why Consider Access EIS Instead?
Both Puma Alpha VCT and Access EIS provide tax-efficient investment opportunities, but they cater to different investor needs:
| Feature | Puma Alpha VCT | Access EIS |
|---|---|---|
| Investment Focus | Scale-up businesses with proven models across diverse 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 |