It means that advisers and their clients will be able to access VCTs with a 6% annual dividend target, with each of the four VCTs made up of more  than 125 private and AIM-quoted companies. The firm noted that it will also include an initial 20% income tax relief as well as tax-free dividends and exemptions from capital gains tax.

Maven also noted that the firm has recorded 14 profitable exits since September 2023 to support its dividend programme, including Quorum Cyber at 8.2x cost, Novatus Global at 4.68x cost and MirrorWeb at up to 4.5x cost

Each VCT will initially seek to raise up to £5m (totalling £20m ), with  an over-allotment facility of up to a further £5m, raising the taking the maximum aggregate fundraising to £40m.

Ewan MacKinnon, investment partner at Maven, said: “Maven has been investing through VCTs for more than 20 years, with a strong record of profitable exits and access to exciting new opportunities across the UK.

“The reduction in initial income tax relief to 20% makes the choice of VCT and manager even more important, as advisers look beyond the tax benefits and focus on the quality of the portfolio, the experience of the manager and their track record of investing and creating value.

“The recent positive changes to VCT investment limits also give managers greater scope to support successful businesses as they scale and, in the hands of the best managers, offer the potential for greater shareholder returns.”

The Maven VCTs invest across a wide range of sectors including software, defence, cybersecurity, AI and data, advanced manufacturing and specialist engineering. Each VCT targets an annual dividend equivalent to 6% of NAV per share, and has met or exceeded that target since it was increased in 2024.

The offers also follow changes to the VCT rules from 6 April 2026, which doubled the annual amount a VCT can invest in a qualifying company to £10m and increased the lifetime investment allowance to £24m.

An early investment incentive is available for valid applications received with cleared funds by 5 February 2027, reducing the offer administration fee by 1.5% for qualifying existing Maven shareholders and by 1.25% for new investors.