Hargreave Hale Aim VCT

What Hargreave Hale Aim VCT does

Hargreave Hale AIM VCT plc is a UK Venture Capital Trust incorporated in England and Wales (company no. 05206425) in 2004 and listed on the London Stock Exchange Main Market under ticker HHV. It invests in a diversified portfolio of small, high-growth UK companies — primarily those quoted on AIM, supplemented by qualifying private companies — across sectors including life sciences, technology, industrials, consumer discretionary, defence and materials. As at the latest period, the qualifying portfolio comprised 54 companies, of which 17 had been held for more than 10 years, and portfolio holdings had a weighted average 3-year revenue CAGR of 19.8% with average revenues of approximately £58m and average profits of approximately £4.3m per company.

The VCT is managed under a discretionary investment management agreement by Canaccord Genuity Asset Management Limited (FCA reference 209741), which receives a 3.5% fee on gross proceeds from subscription offers plus ongoing asset-based management fees; marketing materials are approved by Canaccord Genuity Wealth Limited (FCA reference 194927). The dedicated investment team of four professionals — lead manager Oliver Bedford, co-manager Lucy Bloomfield, portfolio manager Anna Salim, and one additional professional — is supported by nine further fund managers and analysts within Canaccord's wider £1.95bn AUM team. In January 2026 the VCT launched a £20m offer for subscription with a £10m over-allotment facility, following UK Budget changes that increased funding limits for VCT-qualifying companies.

The product targets two end-customers: UK-resident individual investors seeking HMRC-approved tax reliefs (upfront 20-30% income tax relief, tax-free dividends, capital gains tax exemption subject to a five-year minimum hold), and the financial advisers/wealth managers who distribute the VCT to those clients. Capital is raised through periodic public offers and LSE secondary trading, with liquidity reinforced by a regular share buyback policy, a Dividend Re-investment Scheme (DRIS), and quarterly NAV disclosure. Recent portfolio activity includes a £2.5m lead investment in Qureight (Series A, April 2024), participation in LabGenius Therapeutics' £35m Series B extension (February 2026), and a £1.5m investment in Xampla (Series A, April 2026), alongside £8.2m deployed across four new qualifying investments in H1 FY26.

Name

Hargreave Hale Aim VCT

Legal name

Hargreave Hale AIM VCT plc

Website

https://hargreaveaimvcts.co.uk

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Hargreave Hale AIM VCT is a UK-listed Venture Capital Trust investing in a diversified portfolio of small, high-growth UK companies, primarily AIM-listed. It offers UK individual investors and IFAs HMRC-approved tax-efficient exposure to early-stage UK equities, managed by Canaccord Genuity Asset Management.

Ownership category

akta.pro rank

Product category

Venture Capital Trust

NAICS

Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investors, Nec (6799)

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

akta.pro secondary industry

Micro-VC & Angel Funds (FSANAAAI)

Keywords

• Venture capital trust
• AIM-listed investments
• UK small-cap equity
• Tax-efficient investments
• Growth capital

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, Others

Revenue model

1. Investment management fees: Canaccord Genuity Asset Management Limited acts as investment manager and administrator, receiving a fee of 3.5% of gross proceeds from share offers (constituting a related party transaction under FCA Listing Rules). Ongoing management fees are charged on assets under management. These fees constitute the primary revenue stream supporting the VCT's operations.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Hargreave Hale AIM VCT is a publicly listed venture capital trust that invests in a diversified portfolio of high-growth, small UK companies, primarily those listed on the Alternative Investment Market (AIM) along with select private companies. It provides UK investors with tax-efficient exposure to small-cap UK equities through HMRC-approved VCT status, offering upfront income tax relief (20-30%), tax-free dividends, and capital gains tax exemption, subject to a minimum five-year holding period. The VCT is managed by Canaccord Genuity Asset Management Limited and listed on the London Stock Exchange Main Market.

Product overview

Hargreave Hale AIM VCT is a single, unified venture capital trust investment product. The VCT provides tax-efficient investment opportunities in small high-growth UK companies, primarily listed on AIM but also including private companies. The offering combines a diversified investment portfolio with HMRC-approved tax benefits including upfront income tax relief (30% reducing to 20% from April 2026), tax-free dividends, and capital gains tax exemption. The product is supported by a Dividend Re-investment Scheme (DRIS) for shareholders wishing to reinvest dividends, and a regular share buyback policy providing liquidity. The VCT has a 20+ year track record since inception in 2004 and manages a qualifying portfolio of 54 high-growth companies across sectors including life sciences, technology, industrials, and consumer discretionary.

Differentiator

Problem solved

Functional benefit

Products and services

• Hargreave Hale AIM VCT An HMRC-approved venture capital trust providing UK investors with tax-efficient exposure to a diversified portfolio of 54 high-growth small UK companies (primarily AIM-listed), offering upfront income tax relief, tax-free dividends, and capital gains tax exemption for a minimum five-year holding period.
• 2026 Share Offer (£20 million) A share subscription offer launched in January 2026 to raise up to £20 million (with a £10 million over-allotment facility) from new investors, offering upfront income tax relief on subscriptions subject to eligibility and a minimum five-year holding requirement.
• Dividend Re-investment Scheme (DRIS) A dividend reinvestment scheme allowing shareholders to reinvest cash dividends into purchasing additional ordinary shares in the VCT, which attracts income tax relief, supporting compound growth for long-term investors.
• Share Buyback Policy A regular share buyback programme that purchases the VCT's own shares in the market for cancellation at periodic intervals, providing liquidity for shareholders wishing to exit before realising value through secondary market sale.

Quantifiable outcome

• 19.8% weighted average 3-year revenue CAGR for VCT qualifying companies in portfolio
• +3 more outcomes

Named customers5 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

One partnership is on record.

• Canaccord Genuity Asset Management Limited (CGAML)coreImplementation/ SI/ Consulting PartnerCanaccord Genuity Asset Management Limited acts as the investment manager and administrator of Hargreave Hale AIM VCT plc, authorised and regulated by the FCA (reference number 209741). CGAML is supported by Canaccord Genuity Wealth Limited (CGWL), which acts as custodian and approves marketing material. CGWL is also authorised and regulated by the FCA (reference number 194927). Both entities are part of Canaccord Genuity Group Inc. The investment manager fee is 3.5% of gross proceeds from share offers.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Octopus AIM VCT: One of the largest UK AIM-focused venture capital trusts, also investing primarily in AIM-listed qualifying companies for retail investors with similar VCT tax reliefs. Direct competitor for retail flow, IFA distribution, and deal flow across UK small-cap companies.
• Maven Income and Growth VCT: UK VCT focused on smaller and faster-growing UK companies listed on AIM and elsewhere. Direct competitor for UK small-cap deal flow and VCT-allocated investor capital, with overlapping investment themes in regional and growth-stage UK businesses.
• Foresight Williams VCT: UK venture capital trust investing in qualifying early-stage and growth companies, with a strong technology focus. Direct peer for both fundraising and deal flow, particularly in UK knowledge-intensive companies within the same HMRC VCT framework.
• Albion Technology & General VCT: Long-established UK VCT investing in technology and general qualifying companies. Direct competitor for VCT retail capital and UK small-cap deal flow, with a similarly diversified portfolio approach across sectors.
• British Smaller Companies VCT: UK VCT managed by YFM Equity Partners investing in smaller UK growth companies. Direct peer in the VCT segment with overlapping mandate on UK small-cap qualifying companies and similar IFA-led distribution.
• Downing FOUR VCT: UK VCT focused on growth-stage qualifying companies including AIM-listed businesses. Direct peer for fundraising, retail/I FA distribution, and deal-flow competition in the UK small-cap growth segment.
• Northern Investors Company: UK investment trust (operating under similar tax-advantaged structures historically) investing in unquoted small and medium-sized UK companies. Comparable in mandate and end-investor base to Hargreave Hale AIM VCT.
• Baronsmead VCT: UK VCT managed by Living Bridge investing in smaller UK growth companies across sectors. Direct competitor in the VCT retail market and for IFA-led distribution into UK small-cap qualifying holdings.

Broad incumbents

• Montanaro UK Smaller Companies Investment Trust: Listed UK investment trust focused on UK smaller companies; a broader incumbent in the UK small-cap investment space, providing investors with a more liquid alternative to VCTs that competes for similar end-client allocations.
• BlackRock Smaller Companies Trust: Large, well-established UK investment trust investing in smaller UK quoted companies. A broader incumbent offering UK small-cap exposure with greater liquidity than VCTs, competing for the same pool of UK growth-oriented capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors

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

M&A

Investments7 records

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

Frequently asked questions about Hargreave Hale Aim VCT