Octopus Apollo VCT
Octopus Apollo VCT plc is a UK-listed Venture Capital Trust (LSE: OAP3) investing in approximately 45 established UK B2B software companies, managed by Octopus Investments Limited. It offers UK financial advisers and high net worth investors tax-efficient exposure with a target 5% annual dividend yield.
- Company typePublic
- Founded2006
- HeadquartersLondon, United Kingdom
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
What Octopus Apollo VCT does
Octopus Apollo VCT plc is a UK-listed Venture Capital Trust (VCT) that invests in a diversified portfolio of approximately 45 established smaller UK business-to-business (B2B) software companies, targeting investees with revenues of £2-£8 million that have already commercialised their products. The fund was launched on 17 October 2006 and is externally managed by Octopus Investments Limited, part of the Octopus Group, which leverages the deal sourcing, due diligence, and portfolio management capabilities of Octopus Ventures (described as one of Europe's largest venture capital teams). Octopus Apollo VCT shares are admitted to trading on the London Stock Exchange main market under the ticker OAP3, with a buyback facility operated by Octopus at a discount to NAV (typically around 5%) to support secondary-market liquidity.
The VCT's product surface is centred on tax-efficient exposure to UK B2B software, offering investors 20% income tax relief on subscriptions up to £200,000 per tax year, tax-free dividends, and tax-free capital gains, alongside a target annual dividend yield of 5% of NAV. Named portfolio holdings include Fiscal Technologies (AI-powered Procure-to-Pay), Sova (hiring transparency and diversity), Tendable (health and social care quality inspection), Definely (LegalTech document tooling), and Turtl (personalised marketing materials). As at 31 January 2026, the fund reported funds under management of approximately £541 million and cumulative dividends of 93.9p paid since launch. Lead Fund Manager is Paul Davidson, a Partner at Octopus Ventures.
Octopus Apollo VCT generates returns through investment gains and capital appreciation across its portfolio, distributing tax-free dividends to shareholders. Revenue to the manager (Octopus Investments Limited) is fee-based: a 3% initial fee, a 2% annual management charge, and a 20% performance fee on returns above prior highest NAV plus cumulative dividends. Distribution is primarily via the UK financial adviser channel, supported by webinars, the VCT Academy, the Inheritance Tax and Business Relief education hub, and dedicated business development managers; secondary distribution runs through direct online applications and LSE secondary-market trading. Recent capital-raising activity includes a £100 million fundraise launched in October 2025 (£75 million target plus £25 million over-allotment), with material allotments of £75 million on 2 December 2025 and approximately £14.2 million on 22 December 2025.
Octopus Apollo VCT firmographics
Firmographics- Name
- Octopus Apollo VCT
- Legal name
- Octopus Apollo VCT plc
- Website
- https://octopusinvestments.com
- Company type
- Public
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Octopus Apollo VCT plc is a UK-listed Venture Capital Trust (LSE: OAP3) investing in approximately 45 established UK B2B software companies, managed by Octopus Investments Limited. It offers UK financial advisers and high net worth investors tax-efficient exposure with a target 5% annual dividend yield.
- Ownership category
- akta.pro rank
Octopus Apollo VCT industry classification
Industry- Product category
- Venture Capital Trust
- NAICS
- Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Micro-VC & Angel Funds (FSANAAAI)
Keywords
Where Octopus Apollo VCT is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
Octopus Apollo VCT business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Investment returns and capital gains: Generates revenue through equity appreciation and capital gains from the portfolio of around 45 B2B software companies, including debt investments that provide interest income. Investors benefit from tax-free capital gains.
- Tax-free dividends from portfolio: Targets an annual dividend yield of 5% of NAV, distributed from investment income generated by the portfolio. Dividends paid to investors are free from income tax.
- Fund management fees: Octopus Investments Limited, as portfolio manager, earns an initial fee of 3%, an annual management charge of 2%, and a 20% performance fee on returns above the previous highest NAV plus cumulative dividends.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | Advised (initial only): 3% initial to Octopus + up to 4.5% adviser charge, 2% annual management charge, 20% performance fee. |
| Subscription | Annual | Advised (initial and ongoing): 3% initial to Octopus + up to 2.5% initial adviser charge, 2% annual management charge, up to 0.5% ongoing adviser charge for max 9 years, 20% performance fee. |
| Other | Pay-as-you-go | Income tax relief and minimum investment |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels8 records
Octopus Apollo VCT product offering
Product offeringCore offering
Octopus Apollo VCT is a UK-listed Venture Capital Trust (VCT) that invests in a diversified portfolio of approximately 45 established smaller UK business-to-business (B2B) software companies with revenues of £2-£8 million, targeting an annual dividend yield of 5% of NAV. Investors obtain access to Octopus Ventures' deal sourcing and due diligence capabilities and benefit from statutory VCT tax reliefs, including 20% income tax relief on investments up to £200,000 per tax year, tax-free dividends, and tax-free capital gains.
Product overview
Octopus Apollo VCT is a single dedicated Venture Capital Trust (VCT) product — not a multi-module platform — within the wider Octopus Investments product family. Its core offering is the Octopus Apollo VCT itself, which provides investors with access to a diversified portfolio of around 45 UK smaller business-to-business (B2B) software companies. Surrounding/auxiliary offerings on the same product page include the £100 million fundraise offer for subscription, application/illustration tooling, and information on individual portfolio companies such as Fiscal Technologies, Sova, Tendable, Definely, and Turtl. These are constituent elements of the Apollo VCT offering rather than separate modules.
Differentiator
Problem solved
Functional benefit
Products and services
- Octopus Apollo VCT A Venture Capital Trust (VCT) that invests in a diversified portfolio of approximately 45 established smaller UK business-to-business (B2B) software companies, targeting an annual dividend yield of 5% of NAV alongside capital growth. Investors obtain access to Octopus Ventures' expertise and benefit from VCT tax reliefs (20% income tax relief up to £200,000 per tax year, tax-free dividends, and tax-free capital gains). Available to UK investors via financial advisers or direct application.
- Octopus Apollo VCT Fundraise Offer A 2025/26 prospectus-based offer for subscription of new ordinary shares in Octopus Apollo VCT, targeting up to £100 million (£75 million plus a £25 million over-allotment facility). Open to UK investors via financial advisers or direct online application until 5 April 2026 or until fully subscribed, with allotment dates issued in December 2025.
Quantifiable outcome
- Targets annual dividend yield of 5% of NAV
- +5 more outcomes
Companies that use Octopus Apollo VCT
Customer profileSegments3 records
Ideal customer profiles3 records
Octopus Apollo VCT technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Octopus Apollo VCT partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered flagship.
- Octopus Investments LimitedflagshipOctopus Investments Limited acts as the portfolio manager for Octopus Apollo VCT plc, with fees paid by the VCT to Octopus Investments for management services. Octopus Investments is the UK's largest provider of VCTs and BR-qualifying investments, with £14.6 billion under management. The fundraise prospectus published on 30 October 2025 explicitly references fees paid to Octopus Investments Limited as portfolio manager.
- Octopus VenturesflagshipOctopus Ventures is one of Europe's largest venture capital teams and provides deal sourcing, due diligence, and portfolio management expertise for Octopus Apollo VCT. The VCT leverages the Octopus Ventures team's pan-European pipeline of B2B software opportunities. Lead Fund Manager Paul Davidson is a Partner at Octopus Ventures.
Scale indicators12 records
Recent moves8 records
Expansion highlights4 records
Octopus Apollo VCT competitors and assessment
Company assessmentDirect peers
- Downing VCTs: Downing runs a family of UK VCTs (Downing FOUR VCT, Downing ONE VCT) targeting smaller UK growth and healthcare companies. They overlap with Octopus Apollo VCT on the smaller-company growth thesis and on the adviser distribution channel.
- Octopus AIM VCTs: Octopus-branded VCTs focused on AIM-listed smaller UK companies. While the underlying investment universe (AIM-listed) differs from Apollo's unquoted B2B software focus, they share the same manager, same tax wrapper and same adviser distribution channel, so they compete for the same advised VCT pound.
- Foresight VCT: Foresight Group operates a UK VCT alongside its wider investment trust and fund range. It is a direct competitor in the same UK smaller-company, tax-efficient wrapper category and is typically benchmarked alongside Octopus Apollo VCT by UK advisers.
- Albion VCTs: Albion Capital runs a family of UK VCTs (Albion VCT, Albion Development VCT, Albion Technology & General VCT) that invest in smaller UK growth companies. They are among the largest UK VCT providers and the most direct non-Octopus competitor for adviser-led VCT allocations targeting UK smaller companies.
- Octopus Titan VCT: Sister product within the same Octopus family, also a UK VCT investing in smaller UK companies via Octopus Ventures' deal flow. Titan targets earlier-stage, higher-growth companies, whereas Apollo focuses on more mature, established B2B software firms — making them the closest comparable VCT in terms of structure, manager and distribution.
- Maven Income and Growth VCT: Maven Capital Partners manages UK VCTs investing in smaller UK companies across the regions. Direct competitor to Octopus Apollo VCT for adviser recommendations and investor capital within the UK smaller-company growth segment.
- British Smaller Companies VCT (British Smaller Companies Fund): A long-established UK VCT focused on smaller UK growth companies, often referenced in the same model portfolios as Octopus Apollo VCT. Competes head-to-head for the same HNW advised allocation to UK smaller-company VCTs.
- Octopus Future Generations VCT: Another Octopus-managed UK VCT, listed on the same platform and distributed through the same adviser channel. It targets earlier-stage, impact-oriented growth companies, but is structurally and regulatorily identical to Octopus Apollo VCT, making it a near-direct competitor for the same advised client allocation.
Broad incumbents
- Octopus Investments Limited (parent / manager): The portfolio manager of Octopus Apollo VCT and the broader Octopus Group, with £14.6bn AUM across VCTs, EIS, Business Relief and quoted funds. It is the incumbent that defines Apollo's deal flow, fee structure and distribution, and is the natural reference point for Apollo's economics and brand value.
Others
- Octopus Ventures: One of Europe's largest venture capital teams and the upstream sourcing engine for Octopus Apollo VCT's B2B software deal flow. It is not itself a comparable investment vehicle, but is the supplier of the underlying investment opportunities and portfolio monitoring infrastructure that Apollo relies on.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Octopus Apollo VCT financial estimates
Financial estimateRevenue estimate
Valuation estimate
Octopus Apollo VCT leadership team
Management profileNumber of profiles
Profiles6 records
Octopus Apollo VCT funding detail
Funding detailFunding overview
Funding rounds3 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Octopus Apollo VCT M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Octopus Apollo VCT
What does Octopus Apollo VCT do?
Octopus Apollo VCT is a UK-listed Venture Capital Trust (VCT) that invests in a diversified portfolio of approximately 45 established smaller UK business-to-business (B2B) software companies with revenues of £2-£8 million, targeting an annual dividend yield of 5% of NAV. Investors obtain access to Octopus Ventures' deal sourcing and due diligence capabilities and benefit from statutory VCT tax reliefs, including 20% income tax relief on investments up to £200,000 per tax year, tax-free dividends, and tax-free capital gains.
Is Octopus Apollo VCT a public or private company?
Octopus Apollo VCT is a public company. It is classified as public and is currently operating.
When was Octopus Apollo VCT founded?
Octopus Apollo VCT was founded in 2006. It employs 501 to 1,000 people.
Where is Octopus Apollo VCT based?
Octopus Apollo VCT is headquartered in London, United Kingdom, in the Europe region.
How does Octopus Apollo VCT make money?
Three revenue lines are on record. Investment returns and capital gains are the primary driver. The others are tax-free dividends from portfolio and fund management fees.
Who are Octopus Apollo VCT's main competitors?
Direct peers on record are Downing VCTs, Octopus AIM VCTs, Foresight VCT, Albion VCTs, Octopus Titan VCT, Maven Income and Growth VCT, British Smaller Companies VCT (British Smaller Companies Fund) and Octopus Future Generations VCT. Octopus Investments Limited (parent / manager) is listed as a broad incumbent. Octopus Ventures is listed as an others.
Does Octopus Apollo VCT have an API?
No public API is recorded for Octopus Apollo VCT.
What industry is Octopus Apollo VCT in?
Octopus Apollo VCT's product category is Venture Capital Trust. Its primary akta.pro industry code is FSANAAAI, Micro-VC & Angel Funds. Its NAICS code is 52394 and its SIC code is 6282.