It comes as the fund manager predicts smaller companies, such as those in which VCTs invest, will be "vital" to the country's economic recovery in the wake of the coronavirus crisis.
The raising is for the Octopus AIM VCT and Octopus AIM VCT 2 funds, with a minimum investment requirement of £5,000.
Investors will have the option to place their funds in a 60:40 split between AIM VCT and AIM VCT 2, or place their entire investment into either of the funds.
Paul Latham, managing director of Octopus Investments, said smaller companies would be "vital" to the UK's economic recovery following the coronavirus pandemic.
Mr Latham said: "They also tend to be much more adaptable than their larger peers, setting them in good stead to react quickly and take advantage of new opportunities as they arise.
"As witnessed in recent months, even during periods of economic stress, AIM continues to prove a great and much needed platform for small companies to access crucial growth capital."
The demand is set to continue, Mr Latham added, with smaller businesses looking for equity financing as the government begins to withdraw its coronavirus financial support.
The Octopus VCTs offer investors access to a portfolio of 80 companies, featuring businesses the likes of pharmaceuticals, software developers and those in the technology sector.
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