VCTs raise £570m equity

Venture capital trusts (VCTs) issued shares worth £570m in 2016-17, up from 28% on 2015-16 (£445m). It was the highest amount raised since 2005-06.

Since their introduction in 1995 VCTs have raised about £7bn of funds. However, the number of trusts raising funds has declined. In 2016-17 there were 38, compared with 45 in 2015-16 and 57 in 2014-15. Those managing funds have fallen from 80 in 2015-16 to 75 in 2016-17.