The Tax-Efficient Investor – by Wealth Club

Managers of the largest AIM VCT, Unicorn Asset Management is a long-term investor in the UK’s junior stock market. But their Venture Capital Trust portfolio also includes private companies – one example being the recent investment in a UK quantum computing supplier. What is Unicorn’s view on AIM? Could the stock market bounce back after several difficult years? What difference will VCT rule changes make? And what can we learn from the recent private sale of Hasgrove plc? In this episode:

• The state of AIM in 2026
• Investing in Orca Computing – quantum computers for datacentres
• Investing in AIM-listed Quantum Base – anti-counterfeiting technology
• Long-term holding Tristel – high performing disinfectants for healthcare
• Hasgrove exit – a good result?
• Risks of an AIM VCT – and ultimately, why consider investing?

For more details on Unicorn AIM VCT, including documents & how to invest, see https://wealthclub.co.uk/y/unicorn

IMPORTANT
The opinions expressed in this video are the interviewee’s own and do not necessarily reflect the view of Wealth Club Limited. This interview, like our service, is not advice and the products featured are not suitable for everyone. Venture Capital Trusts are higher risk and less liquid than mainstream investments. You could lose your capital. Tax rules can change and tax benefits depend on your circumstances. If you’re unsure an investment is right for you, please seek professional advice.

Blackfinch Spring VCT is now five years since first investment, has started to pay dividends to investors, and has 35 companies in the portfolio. These encompass a broad range of technologies, but with particular focus on deep tech and fintech. Why these areas? What are some example companies, and why did Blackfinch back them? We talk to Nic Pillow and Tim Wynn-Jones to learn more. In this episode:

• Diversification vs specialisation
• Investing in GT Wings – wind propulsion assistance for shipping
• Investing in Spaceflux – protecting satellites through monitoring near space
• A maturing fintech investment: Currensea – debit cards for travel and loyalty
• Risks, exit environment and pipeline
• Ultimately why consider investing in Blackfinch Spring VCT?

IMPORTANT
The opinions expressed in this episode are the interviewee’s own and do not necessarily reflect the view of Wealth Club Limited. This interview, like our service, is not advice and the products featured are not suitable for everyone. Venture Capital Trusts are higher risk and less liquid than mainstream investments. You could lose your capital. Tax rules can change and tax benefits depend on your circumstances. If you’re unsure an investment is right for you, please seek professional advice.

“We are incredibly optimistic about AIM. It’s a fantastic growth market. It remains Europe’s biggest growth market. It celebrated its 30th birthday in 2025, and we feel very well positioned for when market sentiment turns.” Mark Symington of Octopus Investments talks to Wealth Club about the companies in their portfolio, what a tough 3-4 years has been like for UK smaller companies performance as a whole, and what green shoots are showing in 2025/26. In this episode:

• What is it like investing on AIM at the moment?
• “Early looks” and the IPO pipeline
• A recent example: Quantum Base (anti-counterfeiting technology)
• How Craneware plc has become a dominant software provider to US healthcare industry
• Why has it been a tough few years on AIM?
• Risks involved in backing an AIM VCT
• Ultimately, why consider investing?

For more details on Octopus AIM VCTs, including documents & how to invest, see https://wealthclub.co.uk/y/octopus-aim-vcts

IMPORTANT
The opinions expressed in this episode are the interviewee’s own and do not necessarily reflect the view of Wealth Club Limited. This interview, like our service, is not advice and the products featured are not suitable for everyone. Venture Capital Trusts are higher risk and less liquid than mainstream investments. You could lose your capital. Tax rules can change and tax benefits depend on your circumstances. If you’re unsure an investment is right for you, please seek professional advice.

Oli Hammond is partner at Fuel Ventures, which was founded by MyVoucherCodes entrepreneur Mark Pearson following his first exit. Fuel both invests in and mentors early-stage companies through its EIS and SEIS funds, and also manages a Venture Capital Trust. We talk to Oli about their investment approach, companies they’ve backed recently, and the changing environment for exits. In this interview:

• Example of an investee company: Healsgood (healthcare staffing platform)
• Backing a serial founder: Damisa (stablecoin payments platform)
• Other fintech investments including Volt (open banking) and Velocity (payments)
• A maturing investment: Abingdon Software – why this was a gamble and why they first invested
• What are the risks? Ultimately, why consider investing with Fuel Ventures?

IMPORTANT
The opinions expressed in this episode are the interviewee’s own and do not necessarily reflect the view of Wealth Club Limited. This interview, like our service, is not advice and the products featured are not suitable for everyone. EIS and SEIS investments are high risk and illiquid. You could lose your capital. Tax rules can change and tax benefits depend on your circumstances. If you’re unsure an investment is right for you, please seek professional advice.

Meet Neil Cameron and Susie Harris of Parkwalk Advisors – the UK’s most active investor in university spinout companies. An EIS specialist, their range of EIS funds co-invest with leading UK universities into startups commercialising technologies such as AI, cybersecurity, photonics, quantum computing, medical technology, climate tech and synthetic biology. In this episode:

• What are the different Parkwalk EIS funds? Which universities do they work with?
• Investments into Quantum Motion (silicon-based quantum computing), Entia (at-home blood testing for cancer patients) Wayland Additive (high-spec 3D printing for engineering parts)
• Exits from Phasecraft and Cytora
• Risks of this kind of investment
• Ultimately, why consider investing with Parkwalk?

IMPORTANT
The opinions expressed in this episode are the interviewee’s own and do not necessarily reflect the view of Wealth Club Limited. This interview, like our service, is not advice and the products featured are not suitable for everyone. EIS investments are high risk and illiquid. You could lose your capital. Tax rules can change and tax benefits depend on your circumstances. If you’re unsure an investment is right for you, please seek professional advice.

“We lead pretty substantial funding rounds into them, to help them execute a plan with funding to deliver real strategic growth”. We talk to Rupert West, head of Puma Growth Partners, about the investments that go into their Venture Capital Trusts – Puma VCT 13 and Puma Alpha VCT. In this interview:

• “More of a stage specialist” – what kind of companies do the Puma VCTs invest in?
• How Puma practically helps the founders
• Changes to the VCT rules – pros and cons?
• Investing in HubBox – providing ecommerce delivery options
• Investing in Yaso – launching Western ecommerce brands in China
• How is largest holding Influencer performing?
• Maturing investment: Lucky Saint
• Risks – and ultimately, why consider investing in the Puma VCTs?

For more detail – our review, documents, and how to invest – please visit https://wealthclub.co.uk/y/puma-vct-13.

IMPORTANT
The opinions expressed in this video are the interviewee’s own and do not necessarily reflect the view of Wealth Club Limited. This interview, like our service, is not advice and the products featured are not suitable for everyone. Venture Capital Trusts are higher risk and less liquid than mainstream investments. You could lose your capital. Tax rules can change and tax benefits depend on your circumstances. If you’re unsure an investment is right for you, please seek professional advice.

The ProVen VCTs are celebrating their 25th anniversary this year. What advantages are there in having a transatlantic manager? With plenty of examples from their portfolio, Stuart and Harry illustrate the kinds of investments they like to make, how manager Beringea seeks to help, and how these young growth companies are performing. In this episode:

• How Monica Vinader went from one shop in the UK to become a major international operation
• “The opportunity for Farmer J in the US is huge”
• The theme of premium consumer brands in the portfolio
• “We managed to squeeze our way in on an angel round” – investing in MOTH Drinks (premium ready-to-drink cocktails)
• “From day one, we’re looking to prepare the businesses for exit” – how does Beringea support companies and move them forward?
• Backing repeat entrepreneurs: Andersen EV (founded by David Martell, who previously sold Chargemaster to BP)
• Risks, and ultimately why invest in the ProVen VCTs?

IMPORTANT
The opinions expressed in this episode are the interviewee’s own and do not necessarily reflect the view of Wealth Club Limited. This interview, like our service, is not advice and the products featured are not suitable for everyone. Venture Capital Trusts are higher risk and less liquid than mainstream investments. You could lose your capital. Tax rules can change and tax benefits depend on your circumstances. If you’re unsure an investment is right for you, please seek professional advice.

We talk to Paul Davidson of Octopus Ventures about Octopus Apollo VCT – its current portfolio, investment strategy, recent examples, risks, exit activity, and more. In this interview:

• Why invest in B2B software companies?
• “The more mature end of the early stage ecosystem”
• Recent rule changes to VCTs – thoughts?
• Examples: recent investments in Threatmark and Definely
• “Natterbox has been a great success for the fund”
• Recent exits: Interact Software (Hasgrove plc) and Pendula
• What are the risks? Ultimately, why invest?

For more details on Octopus Apollo VCT, including documents & how to invest, see https://wealthclub.co.uk/y/octopus-apollo-vct

IMPORTANT
The opinions expressed in this episode are the interviewee’s own and do not necessarily reflect the view of Wealth Club Limited. This interview, like our service, is not advice and the products featured are not suitable for everyone. Venture Capital Trusts are higher risk and less liquid than mainstream investments. You could lose your capital. Tax rules can change and tax benefits depend on your circumstances. If you’re unsure an investment is right for you, please seek professional advice.w

“That’s what venture is all about – it’s making sure you capture the value of the big ones. But it’s also about the new companies that come in at the bottom, those acorns that become the oaks.” We talk to managing partner Will Fraser-Allen of Albion Capital about the Albion VCTs. In this interview:

• Impact of Budget changes to VCT rules
• Investing in Quantexa – $2B data analytics company
• Recent investments: OpenTrade (stablecoin yield provider) and Evaro (prescriptions platform for pharmacies)
• How does Albion get in to rounds like OpenTrade?
• Recent exit: Egress
• Risks and portfolio concentration
• Ultimately, why back the Albion VCTs?

For more details on Albion VCTs, including documents & how to invest, see https://wealthclub.co.uk/y/albion-vcts

IMPORTANT
The opinions expressed in this video are the interviewee’s own and do not necessarily reflect the view of Wealth Club Limited. This interview, like our service, is not advice and the products featured are not suitable for everyone. VCTs are higher risk and less liquid than mainstream investments. You could lose your capital. Tax rules can change and tax benefits depend on your circumstances. If you’re unsure an investment is right for you, please seek professional advice.

In this episode we hear from Ewan MacKinnon of Maven Capital Partners about the long-running and popular Maven VCTs, their recent exits, and how they approach venture capital. Highlights:

• Why Maven focuses on non-cyclical business and defensive deal structures
• Investing in Blackdot (financial crime risk monitoring), PowerPhotonic (laser lenses for defence and healthcare) and Bud Systems (training platform provider)
• Exits from Horizon Crematoria and DPP
• Dividends, risks, and ultimately why consider investing?

For more details on Maven VCTs, including documents & how to invest, see https://wealthclub.co.uk/y/maven-vcts

IMPORTANT
The opinions expressed in this video are the interviewee’s own and do not necessarily reflect the view of Wealth Club Limited. This interview, like our service, is not advice and the products featured are not suitable for everyone. VCTs are higher risk and less liquid than mainstream investments. You could lose your capital. Tax rules can change and tax benefits depend on your circumstances. If you’re unsure an investment is right for you, please seek professional advice.