Figures published by the Association of Investment Companies (AIC) show the venture capital trust (VCT) sector raised £457.5m in the most recent tax year (2015/2016), the third highest on record.
This is a £28.5m increase on the year before (2014/2015) when fundraising reached £429m.
VCT funds under management to 5 April 2016 reached £3.6bn, a slight increase from last year’s figure of £3.5bn.
Ian Sayers, chief executive of the AIC, said: “The pension changes to the lifetime and annual limits have clearly had some impact, and this is likely to continue next year with further restrictions for high earners.”
Historic VCT fundraising figures excluding enhanced share buy-backs
| Tax year | Fundraising (£m) |
| 2015/2016 | 458 |
| 2014/2015 | 429 |
| 2013/2014 | 420 |
| 2012/2013 | 269 |
| 2011/2012 | 267 |
| 2010/2011 | 354 |
| 2009/2010 | 338 |
| 2008/2009 | 154 |
| 2007/2008 | 219 |
| 2006/2007 | 267 |
| 2005/2006 | 779 |
| 2004/2005 | 505 |
| 2003/2004 | 50 |
| 2002/2003 | 65 |
| 2001/2002 | 125 |
| 2000/2001 | 433 |
| 1999/2000 | 270 |
| 1998/1999 | 165 |
| 1997/1998 | 190 |
| 1996/1997 | 170 |
| 1995/1996 | 160 |
Source: AIC
ruth.gillbe@ft.com
