Pembroke VCT

What Pembroke VCT does

Pembroke VCT plc is a UK-listed Venture Capital Trust (LSE ticker: PEMB) established in 2013 and managed by Pembroke Investment Managers LLP, a limited liability partnership. The fund invests in growth-stage UK companies at the £1m-£10m revenue stage, targeting exceptional founders with disruptive business models across consumer, business services, and technology sectors. As of 31 March 2026, the fund held approximately £286m in assets across a portfolio of 45 companies, with a quarter of portfolio companies valued above £50m EV and five above £100m.

The fund raises capital through primary issues of B ordinary shares admitted to the London Stock Exchange Official List, with a 2025/26 offer for subscription raising up to £60m (fully subscribed). Investors receive UK VCT tax benefits: up to 20% income tax relief on new shares, tax-free dividends, and tax-free capital gains on 5+ year holdings. The manager targets a 5p per share annual dividend (raised from 3p in 2022) with additional dividends paid from exit proceeds. Demonstrated exits include ME+EM (16x return), Secret Food Tours (5.3x), and Plenish (2.3x).

Pembroke VCT differentiates itself through an entrepreneur-focused investment team that provides board-level operational support to portfolio founders, and a 'patient capital' model with no mandated exit horizon. The operationally lean manager (~20 named professionals) leverages the institutional resources of Oakley Capital Group (€13.5bn AUM, 170+ professionals) for compliance, governance, HR, legal, and IT services. Recent investment activity has been concentrated in AI-enabled companies (Kaizan, Bolt Insight, Mindset AI, PEAK:AIO, Exeros, Serve First) alongside selective consumer and fintech opportunities (CybaVerse, Ryft, TALA, Bloobloom, My Expert Midwife).

Name

Pembroke VCT

Legal name

Pembroke VCT Plc

Website

http://www.pembrokevct.com/

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

101–250 employees

Short description

Pembroke VCT is a UK-listed Venture Capital Trust (LSE: PEMB) managing a £286m portfolio of 45 growth-stage companies in consumer, business services, and technology, raised from UK individual investors and IFAs via tax-efficient VCT share offerings.

Ownership category

akta.pro rank

Product category

Venture Capital Trust (Growth-Stage Investment Management)

NAICS

Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Secondary Venture Funds (VC Secondaries) (FSANAAAK)

Keywords

• Venture capital trust
• Growth-stage equity investment
• Tax-efficient investing
• Portfolio investment management
• UK early-stage investment

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Investment Returns (Capital Gains & Dividends): Pembroke VCT generates returns for shareholders through capital appreciation of its portfolio company investments and realisations, supplemented by tax-free dividends paid to shareholders. Dividends are funded by portfolio exit proceeds and recurring distributions. Tax-free dividends are a core benefit of VCT structure.
2. Management Fees: Managed by Pembroke Investment Managers LLP, which earns a management fee from the VCT fund. Specific fee rates are not publicly disclosed in the source materials.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Pembroke VCT plc is a UK-listed Venture Capital Trust that raises capital from individual UK investors and advisers and invests it in growth-stage companies in the consumer, business services, and technology sectors. Investors access the fund via B Ordinary Shares traded on the London Stock Exchange or through periodic offers for subscription, benefiting from VCT tax reliefs (up to 20% income tax relief, tax-free dividends, and tax-free capital gains after five years). The fund is managed by Pembroke Investment Managers LLP and draws operational support from Oakley Capital Group.

Product overview

Pembroke VCT is a Venture Capital Trust offering tax-efficient investment products for UK investors. The firm manages a c.£286m fund with a portfolio of 45 growth-stage companies across consumer, technology, and business services sectors. Key portfolio companies include Kaizan (AI client management), Bolt Insight (AI consumer research), Exeros (AI fleet monitoring), Serve First (AI customer experience), and CybaVerse (AI cybersecurity). The investment products include B Ordinary Shares with income tax relief, tax-free dividends, and tax-free capital gains.

Differentiator

Problem solved

Functional benefit

Products and services

• Pembroke VCT B Ordinary Shares
• Growth-Stage Portfolio Investment Management

Quantifiable outcome

• 16x return on ME+EM exit; 5.3x on Secret Food Tours partial exit; 2.3x on Plenish exit.
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Oakley Capital GroupcoreStrategic or Co-development PartnerPembroke draws on the resources of Oakley Capital Group, an asset manager with over €13.5bn in AUM and a combined team of 170+ professionals. Oakley provides high-class resources across compliance, governance, HR, legal, and IT, enabling Pembroke to operate as a lean, independent investment team while benefiting from institutional-grade support.
• The City Partnership (UK) LtdcoreOthersThe City Partnership acts as share registrar for Pembroke VCT, managing shareholder records, transactions, share certificate details, and dividend information. Shareholders contact City for queries about their holdings at [email protected] or +44 (0)1484 240 910.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Maven Capital Partners: Maven manages multiple UK VCTs (Maven Income and Growth VCT, Maven Capital VCT) investing in regional UK growth-stage SMEs. Directly comparable VCT mandate with overlapping consumer/business services investing.
• Downing LLP (Downing VCTs): Downing runs AIM-focused VCTs and development capital trusts targeting UK smaller companies. Comparable tax-wrapper VCT structure, UK growth-stage mandate, and retail investor distribution.
• Octopus Investments (Octopus VCTs): Octopus operates one of the largest UK VCT franchises with multiple VCTs (including Octopus Apollo VCT) targeting growth-stage UK companies. Directly comparable VCT structure, retail UK investor base, and growth-stage focus.
• ProVen VCT: ProVen Growth & Income VCT is a UK VCT managed by Beringea, investing in UK growth-stage companies. Comparable VCT structure, UK growth-stage mandate, and AIM-quoted listing.
• Canaccord Wealth (Hargreave Hale AIM VCT): Canaccord continues to manage the Hargreave Hale AIM VCT, a UK VCT investing in growth-stage quoted smaller companies. Directly comparable VCT structure with UK growth-stage focus.
• NVM Private Equity (Northern Venture Trust): NVM operates Northern Venture Trust and similar VCTs targeting UK regional growth-stage companies. Comparable VCT structure with a UK SME growth mandate.
• Albion Capital (Albion VCTs): Albion runs a VCT platform investing in UK smaller and growth-stage companies across technology and consumer. Closely comparable VCT structure, UK growth-stage mandate, and AIM/LSE-listed retail investor vehicle.
• Chrysalis VCT: Chrysalis (formerly Acorn) is a UK VCT investing in smaller quoted and unquoted growth companies. Directly comparable VCT structure with UK growth-stage orientation.
• Foresight Group (Foresight VCT): Foresight operates a UK VCT alongside broader regional VC and infrastructure funds. Comparable VCT structure targeting UK growth-stage companies, with an institutional asset manager parent.
• British Smaller Companies VCTs: BSC manages a UK VCT franchise focused on smaller growth-stage companies in technology and consumer. Closely comparable VCT structure and growth-stage co-investment profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/pembroke_vct
• LinkedInlinkedin.com/company/pembroke-vct
• Instagraminstagram.com/pembrokevct

Revenue estimate

Valuation estimate

Number of profiles

Profiles29 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments74 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pembroke VCT