Baronsmead Second Venture Trust plc
Offers for subscription
Following the announcement by Baronsmead Venture Trust plc and Baronsmead Second Venture Trust plc (the “Companies”) on 4 September 2026 of their intention to launch joint offers for subscription for new ordinary shares (the “Offers”) during the 2026/2027 tax year, the Companies have now published a Prospectus in relation to the Offers to raise up to £20 million in aggregate with the discretion to utilise over-allotment facilities to raise up to a further £15 million in aggregate. Full details of the Offers are contained in the Prospectus. The Offers are now open.
Baronsmead Second Venture Trust plc is a tax-efficient venture trust, making investments focused on supporting the UK’s very best growth businesses.
Baronsmead Second Venture Trust plc has a large, diversified portfolio and maintains a robust pipeline of new investment opportunities – with an increasing rate of deployment.
We invest in forward-looking companies that we believe will be crucial to the UK economy in the years to come, providing capital and expertise to accelerate growth at a critical stage of their journey.
Drawing on our VCT investment team’s extensive network and skills, our investments enable exciting businesses with potential to benefit from long-term structural growth to enter the next phase of their growth journey.
Key Risks
- Capital at Risk: this is a high-risk investment, and the value of the Company and any income from it is not guaranteed and may fall as well as rise, meaning investors could get back less than they originally invested
- Volatility and Liquidity. VCT shares could fall or rise in value more than other shares listed on the main market of the London Stock Exchange. They may also be harder to sell
- Any tax reliefs are dependent on your individual circumstances and may be subject to change
- Funds investing in smaller, younger companies may carry a higher degree of risk than funds investing in larger, more established companies. Investments in smaller companies may be less liquid than investments in larger companies
2026 Annual General Meeting
2026 Annual General Meeting (AGM)
The 2026 Baronsmead Second Venture Trust plc AGM was held at Saddlers’ Hall, 40 Gutter Ln, City of London, London EC2V 6BR starting with a presentation by the Manager from 11.30am on 19 March 2026.
Results of 2026 AGM
Result of the 2026 Annual General Meeting
BSVT is pleased to announce that, at the Annual General Meeting held on 19 March 2026, all resolutions set out in the Notice of Meeting were passed. All resolutions were voted on a poll, and the results of the poll for each resolution were:
| Resolutions | Votes For
(No. of shares) | For (%) | Votes Against
(No. of shares) | Against (%) | Votes Withheld
(No. of shares) | Total Votes | % of Issued Share Capital voted |
|---|---|---|---|---|---|---|---|
| Resolution 1 To receive and adopt the accounts for the year ended 30 September 2025 | 13,744,523 | 99.16 | 115,560 | 0.83 | 0 | 13,860,083 | 3.31% |
| Resolution 2 To declare a final dividend of 2.25 pence per share | 13,758,978 | 99.27 | 101,105 | 0.72 | 0 | 13,860,083 | 3.31% |
| Resolution 3 To receive and approve the Directors’ Remuneration Report for the year ended 30 September 2025 | 12,189,321 | 89.51 | 1,427,376 | 10.48 | 243,386 | 13,616,697 | 3.25% |
| Resolution 4 To re-elect Sarah Fromson as a Director | 13,120,598 | 95.98 | 548,728 | 4.01 | 190,757 | 13,669,326 | 3.26% |
| Resolution 5 To re-elect Graham McDonald as a Director | 13,122,301 | 96.13 | 527,870 | 3.86 | 209,912 | 13,650,171 | 3.26% |
| Resolution 6 To re-elect Tim Farazmand as a Director | 13,234,729 | 96.82 | 434,597 | 3.17 | 190,757 | 13,669,326 | 3.26% |
| Resolution 7 To re-elect Adriana Stirling as a Director | 13,240,888 | 96.86 | 428,438 | 3.13 | 190,757 | 13,669,326 | 3.26% |
| Resolution 8 To re-appoint BDO LLP as independent Auditor | 13,397,355 | 97.74 | 308,972 | 2.25 | 153,756 | 13,706,327 | 3.27% |
| Resolution 9 To authorise the Audit & Risk Committee to determine the remuneration of the independent Auditor | 13,526,825 | 98.59 | 193,418 | 1.40 | 139,840 | 13,720,243 | 3.27% |
| Resolution 10 To authorise the Directors to allot ordinary shares | 13,394,968 | 97.98 | 276,133 | 2.01 | 188,982 | 13,671,101 | 3.26% |
| Resolution 11 To authorise the Directors to disapply pre-emption rights | 12,591,063 | 92.08 | 1,081,718 | 7.91 | 187,302 | 13,672,781 | 3.26% |
| Resolution 12 To approve the purchase of the Company’s own shares | 13,487,881 | 98.09 | 261,484 | 1.90 | 110,718 | 13,749,365 | 3.28% |
| Resolution 13 That a general meeting may be called on not less than 14 clear days’ notice | 12,842,475 | 93.95 | 826,191 | 6.04 | 191,417 | 13,668,666 | 3.26% |
| NOTES: | |
| 1. | All resolutions were passed. |
| 2. | Proxy appointments which gave discretion to the Chair of the AGM have been included in the “For” total for the appropriate resolution. |
| 3. | Votes “For” and “Against” any resolution are expressed as a percentage of votes validly cast for that resolution. |
| 4. | A “Vote withheld” is not a vote in law and is not counted in the calculation of the percentage of shares voted “For” or “Against” any resolution. |
| 5. | The number of shares carrying voting rights on 17 March 2026 was 419,112,164 ordinary shares, carrying one vote each. |
| 6. | The full text of the resolutions passed at the AGM can be found in the Notice of Annual General Meeting which is available on the Company’s website at https://greshamhouse.com/strategic-equity/private-equity/baronsmead-vcts/baronsmead-venture-trust-plc/ |
| 7. | A copy of resolutions 10 to 13 passed at the AGM will shortly be submitted to the National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism |
For further information please contact:
Baronsmead VCT Investor Relations
020 7382 0999
An interview with Netcall plc
In this video, Ken Wotton interviews James Ormondroyd, CEO of Netcall plc, a business Baronsmead has been invested in since 2010, to discuss the market it’s operating in and the outlook for further growth.
How to invest
Prospective and current investors can invest in the Baronsmead VCTs by subscribing for shares when the Companies raise funds through new share issuance. Investors may also buy shares in the VCTs on the secondary market, but without the same tax benefits.
Investors can also access more information about the VCT share price and the company through the listed company (ticker: BSVT)
To receive information about share offers please sign up using the form below:
Important information
Prospective investors should carefully consider the risks associated with this form of investment and seek advice from a qualified financial adviser. Investment in smaller unquoted companies involves a higher degree of risk than investment in larger companies. VCT shares are infrequently traded, so shares are often valued at a discount to their Net Asset Value and may be difficult to realise. Shareholders may be offered a price which is less than the full value of the underlying assets.
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Scam warning
Scam warning
Warning to Shareholders
Many companies are aware that their shareholders have received unsolicited phone calls or correspondence concerning investment matters. These are typically from “brokers” based overseas who target UK shareholders offering to sell them what often turn out to be worthless or high risk shares in US or UK investments. They can be very persistent and extremely persuasive. Shareholders are therefore advised to be very wary of any unsolicited advice, offers to buy shares at a discount or offers for free company reports.
Please note that it is very unlikely that either the Company or the Company Registrar, Computershare, would make unsolicited telephone calls to shareholders and that any such calls would relate only to official documentation already circulated to shareholders and never in respect of investment “advice”.
If you are in any doubt about the veracity of an unsolicited phone call, please call either the Company or the Registrar at the numbers provided below.
Protect Yourself
If you are offered unsolicited investment advice, discounted shares, a premium price for shares you own, or free company or research reports, you should take these steps before handing over any money or share certificates:
- Get the name of the person and organisation contacting you.
- Check the FCA Register at www.fca.org.uk/register to ensure they are authorised (or www.fca.org.uk/publication/systems-information/aifmd-small-register.pdf).
- Use the details on the FCA Register to contact the firm.
- Call the FCA Consumer Helpline on 0800 111 6768 (freephone) from 8am to 6pm, Monday to Friday (except public
holidays) and 9am to 1pm, Saturday (from abroad call +44 20 7066 1000) if there are no contact details on the
Register or you are told they are out of date. - Search the FCA’s list of unauthorised firms and individuals to avoid doing business with.
- REMEMBER: if it sounds too good to be true, it probably is!
If you use an unauthorised firm to buy or sell shares or other investments, you will not have access to the Financial
Ombudsman Service (https://www.financial-ombudsman.org.uk/) or Financial Services Compensation Scheme
(https://www.fscs.org.uk/) if things go wrong.
Report a Scam
If you are approached about a share scam you should tell the FCA using the Share Fraud Reporting Form
(www.fca.org.uk/consumers/report-scam-unauthorised-firm), where you can find out about the latest investment scams.
You can also call the FCA Consumer Helpline on 0800 111 6768.
If you have already paid money (or otherwise dealt with share fraudsters) you should contact ActionFraud on 0300 123 2040 or use the ActionFraud (https://www.actionfraudalert.co.uk/) Online Reporting Tool.
More detailed information on this or similar activity can be found on the FCA website.
Team
Board
Adriana Stirling
Non-executive Director, Chair of the Audit & Risk Committee, Baronsmead Second Venture Trust plc Board
Adriana Stirling
Non-executive Director, Chair of the Audit & Risk Committee, Baronsmead Second Venture Trust plc Board
Adriana qualified as a chartered accountant with PwC and developed extensive organisational and financial crime technical expertise over her 17 years there, leading client engagements across financial and non-financial service industries, spanning the public and private sectors.
In 2014, Adriana became the Managing Director of a private family office and has overall responsibility for the investment and operational aspects of the office, including managing significant shareholder positions in several unquoted companies.
Graham McDonald
Senior Independent Director, Baronsmead Second Venture Trust plc Board
Graham McDonald
Senior Independent Director, Baronsmead Second Venture Trust plc Board
Graham was the former Global Head of Private Equity and Venture Capital at Aberdeen Standard Investments. He brings extensive leadership and private equity experience.
Sarah Fromson
Chair, Baronsmead Second Venture Trust plc Board
Sarah Fromson
Chair, Baronsmead Second Venture Trust plc Board
Sarah is an experienced, independent non-executive who has served on a variety of boards and committees, after a varied career in the asset and wealth management industry. She is a non-executive board member of Boston-based Arrowstreet Capital Partners and is also a Pension Trustee Director of Genome Research Pensions Trustee Limited and Wellcome Trust Pensions Trustee Limited. She chairs the Cambridge University Endowment Fund Investment Advisory Board and also serves on the board of Quilter Investors Ltd, a subsidiary of Quilter plc.
Sarah retired from her executive role as Head of Risk at Wellcome Trust in 2019 and as Chair of JP MorganGlobal Emerging Markets Income Trust plc on 28 November 2022. Sarah was previously Chief Investment Risk Officer at RBS Asset Management (formerly Coutts).
Tim Farazmand
Non-Executive Director, Baronsmead Second Venture Trust plc Board
Tim Farazmand
Non-Executive Director, Baronsmead Second Venture Trust plc Board
Tim Farazmand has spent 35 years in private equity. His last full-time role was as a Managing Director at LDC, the private equity arm of Lloyds Bank. He previously worked for 3i Group Plc and Royal Bank of Scotland Private Equity.
He was chair of the British Venture Capital Association (BVCA) for the 2014-15 term and sat on the board of Ricardo plc. He currently chairs the Palatine Impact Fund, sits on the board of Pantheon International plc and the advisory boards of Beechbrook Capital and Pitalia Capital.
Team
Investment team
Tania Hayes
COO, Strategic Equity
Tania Hayes
COO, Strategic Equity
Tania joined Gresham House in November 2018 having been at Livingbridge for 13 years. She has worked on the Baronsmead VCTs since she joined, progressing from administration assistant to Finance Manager in 2011 and qualifying as a Chartered Management Accountant in 2012 while at Livingbridge.
Tania previously worked at a Chartered Accountancy practice in New Zealand for eight years where she began her accounting training. She holds a BBS in Accounting from the Open Polytechnic of New Zealand.
Clive Austin
Chair of the Portfolio Valuations Committee
Clive Austin
Chair of the Portfolio Valuations Committee
Clive joined Gresham House in 2021 as part of the Mobeus VCTs acquisition. He is an investment management specialist with experience across a wide variety of sectors and stages of company development. He has worked in the private equity industry since 1995 making investments including TeleCity and Kerridge Commercial Systems. He has been working in the VCT industry since 2008 with previous experience including running his own business and as a Director of NVM Private Equity, Catapult Venture Managers and 3i plc.
Having specialised in portfolio management, Clive has acted as non-executive director and Chairman of a wide range of private equity backed businesses such as Virgin Wines, Entanet and Equip Outdoor Technologies. He now heads VCT portfolio management across the Gresham House VCT stable, sits on the Investment Committee and has responsibility for the portfolio valuations processes.
Clive holds a BSc (Hons) in Applied Physics & Electronics from Durham University, a DipM from the Chartered Institute of Marketing, and an MBA from the University of Warwick.
Ed Wass
Portfolio Director
Ed Wass
Portfolio Director
Ed brings nearly 20 years’ experience of helping SMEs to create and realise shareholder value to his role. He has been working with Mobeus VCT management teams since 2017 to help them achieve their ambitions for growth and has overseen several notable exits in that time, including Automated Systems Group, Access-IS and Auction Technology Group. He also led the successful IPO of Virgin Wines in 2021.
Ed represents the Mobeus VCTs directly on the Board of several businesses, including Virgin Wines, RotaGeek and Vivacity Labs. His previous roles include CIO at Catapult Ventures in Assurance and Business Recovery Services at PwC. Ed was named one of Real Deals’ Future 40 Investment Leaders in April 2021.
He holds a BA (Hons) in Ancient History from the University of Nottingham and is a Chartered Accountant (ICAEW).
Jens Düing
Head of Portfolio, Private Equity
Jens Düing
Head of Portfolio, Private Equity
Jens joined Gresham House in August 2025 as Head of Portfolio, Private Equity.
With over 20 years of experience of working with technology companies across Europe, Jens joins Gresham House from Frog Capital, where he served as a Senior Partner, overseeing the investment operations.
Jens has sat on boards of companies active in the payment sector, insurance, health care, education technology and property sector. Through this work as a non-executive, Jens grew his passion for working with and supporting growth businesses, and for sharing the learnings with other scaling companies.
“Having sat on nine boards in three countries, I have come to realise that growth companies share many challenges. Leading a portfolio group that can help our companies better address these challenges is a very exciting privilege”.
Earlier in his career of more than 20 years, Jens gained experience at Pioneer Point Partners, Fidelity Equity Partners and Apax. Jens started his career at Dresdner Kleinwort.
Jens holds an MBA Degree from the University of California at Berkeley and Masters Degree in Theoretical Physics from Durham University.
Gregory Blin
Investment Partner, VCTs
Gregory Blin
Investment Partner, VCTs
Greg joined the Mobeus VCT team in 2013. He sources and executes investments into fast-growing businesses and is our resident consumer expert. He combines a natural flair for understanding the drivers of brand value, insight into wider market dynamics and strong corporate finance experience. Previous investments and Board positions include Virgin Wines, MPB, Rotageek and Buster + Punch.
Greg joined Mobeus from Piper Private Equity and previously worked at PwC in Corporate Finance.
He holds a BA/ ACC in Business Studies & Accounting from the University of Edinburgh and is a Chartered Accountant (ICAS).
James Hendry
Investment Director, Private Equity
James Hendry
Investment Director, Private Equity
James joined Gresham House in December 2019 and works as part of our growth equity division, Gresham House Ventures.
Prior to this he spent five years at PwC, latterly working in the financial due diligence team.
James is a Chartered Accountant and read Economics and Accounting at Edinburgh University.
Marieke Christmann
Portfolio Partner, Private Equity
Marieke Christmann
Portfolio Partner, Private Equity
Marieke joined Gresham House in February 2025 as Portfolio Director.
Marieke draws on over 15 years of industry experience. Prior to joining Gresham House Ventures, she was a senior investor and investment committee member at Forestay, a pan-European venture capital fund. She led a team focused on enterprise SaaS startups across the UK and Europe and served on the boards of four portfolio companies. Previously, she led the growth investment team at Octopus Ventures, serving on nine boards and managing new and follow-on investments as well as exits. She began her career in leveraged finance at NIBC (Frankfurt) and Credit Suisse (London).
Marieke has invested in and sat on the board of companies between £1m and £100m revenues and has deep experience supporting founders and management from first investment to exit.
She holds an MBA from Mannheim University. She is a mentor with Level20 and GAIN and serves as a Governor at West Wimbledon Primary School. Originally from Germany, she has lived in Spain and Mexico before moving to the UK in 2011.
Outside of work, Marieke enjoys time with her family, yoga, snowboarding and the theatre.
Rohit Mathur
Investment Partner, Private Equity
Rohit Mathur
Investment Partner, Private Equity
Rohit focusses on venture capital investments at late Seed / Series A stages and beyond with a specific focus on Fintech, SaaS, and AI-first technology companies. Previous investments include Adsum Technologies, Refyne Technologies, Honest Bank, WealthKernel, Penfold Pensions, and many others. He has a global network having worked / invested in the UK, EU, India, ME and SEA.
Before Gresham, Rohit was an Investment Partner at Digital Horizon VC and led their fintech investments globally, and before that spent 10+ years at Barclays Bank London in various roles including as the Lead for the Barclays VC unit. He has significant operational, commercial and leadership experience having worked with start-ups in Commercial roles and built and launched the wealth management and private banking mobile app for Barclays. He was a Management Consultant with EY and started his career as a Software Engineer with Infosys Technologies.
Rohit is passionate about diversity causes and has held various NED roles with start-ups and education institutions including being on the Global Alumni Board of Manchester Business School.
Rohit has an MBA (Director’s List and AT Kearney Scholar) from Manchester Business School, UK, and a B.Eng. (Honour’s) from Agra University, India.
Trevor Hope
Managing Director & CIO, Private Equity
Trevor Hope
Managing Director & CIO, Private Equity
Trevor joined Gresham House in 2021 as part of the Mobeus VCTs acquisition. For over 25 years, he has invested in fast-growing businesses at the series A stage and beyond.
Prior roles include at Barclays, RBS, 3i and Beringea. Previous investments and Board positions include Paragon Software, Mondus.com, Cambridge Industries, Southnews plc, Achilles Group, MyOptique, Fjordnet, ILG Digital, Celebrus Technologies, Big Data Partnership, and Preservica.
Trevor holds an MBA from Exeter University, is an associate of the Chartered Institute of Bankers and a Member of the Chartered Institute of Marketing.
Insights
Key Documents
Investor relations queries
City Partnership
014 8424 0910
gresham-house-vcts.cityhub.uk.com
The City Partnership (UK) Limited
The Mending Rooms
Park Valley Mills
Meltham Road
Huddersfield HD4 7BH
Shareholder information
View or subscribe to the key shareholder information for this company.
RNS announcements
Share price
Company information
Past performance is not a reliable indicator of future results
Baronsmead Second Venture Trust plc. Registered Office and address for correspondence: 5 New Street Square, London, EC4A 3TW. Registered in England and Wales. Company Number: 04115341.
| Net asset value as at 31/08/2026 | £197.5mn |
|---|---|
| Net asset value per share as at 31/08/2026 | 46.55p |
| Net asset value total return per share since launch to 31/08/2026 | 319.3p |
| Dividends paid since launch (per share) | 172.80p |
| Annual average dividend in the past 10 years (per share) | 5.03p |
| Annual average dividend since launch (per share) | 7.05p |
| Date Launched | January 2001 |
| Financial Year Ended | 30 September |
Net Asset Value
| Latest published valuation | Net assets (£mn) | Net asset value (pence per share) | NAV cumulative total return (pence per share) |
|---|---|---|---|
| 31/08/2026 | 197.5 | 46.55 | 319.3 |
* Source: Gresham House
For a link to the London Stock Exchange and the Share Price for Baronsmead Second Venture Trust plc, please click here:
Share Price for Baronsmead Second Venture Trust
Past performance is not a reliable indicator of future results
Historical data
| Year end | Net assets (£mn) | Net asset value per share (pence per share) | Net asset value cumulative total return (pence per share) |
|---|---|---|---|
| 31/08/2026 | 197.5 | 46.55 | 319.3 |
| 30/09/2025 | 221.2 | 54.06 | 342.3 |
| 30/09/2024 | 227.4 | 57.41 | 337.7 |
| 30/09/2023 | 209.7 | 57.88 | 318.5 |
| 30/09/2022 | 213.0 | 65.1 | 328.9 |
| 30/09/2021 | 248.7 | 87.9 | 406.7 |
| 30/09/2020 | 182.3 | 73.7 | 316.4 |
| 30/09/2019 | 175.4 | 77.05 | 303.77 |
| 30/09/2018 | 199.4 | 92.10 | 330.59 |
| 30/09/2017 | 186.7 | 94.60 | 313.53 |
| 30/09/2016 | 140.9 | 92.17 | 295.75 |
| 31/12/2015 | 79.2 | 106.46 | 288.38 |
| 31/12/2014 | 76.6 | 101.72 | 257.18 |
| 31/12/2013 | 74.9 | 113.40 | 245.38 |
| 31/12/2012 | 74.6 | 111.62 | 217.38 |
| 31/12/2011 | 60.1 | 100.16 | 189.74 |
| 31/12/2010 | 64.6 | 106.60 | 180.19 |
| 31/12/2009 | 52.9 | 97.50 | 159.89 |
| 31/12/2008 | 55.1 | 102.72 | 149.56 |
| 31/12/2007 | 65.2 | 120.44 | 170.56 |
| 31/12/2006 | 66.5 | 130.77 | 169.27 |
| 31/12/2005 | 56.2 | 117.31 | 144.77 |
| 31/12/2004 | 35.1 | 106.38 | 125.64 |
| 31/12/2003 | 33.0 | 97.15 | 112.65 |
| 31/12/2002 | 32.1 | 94.85 | 105.35 |
| 31/12/2001 | 31.1 | 93.85 | 101.21 |
* Source: Gresham House
Dividend history
Dividend history by Financial Year
* Financial year end changed to 30 September in 2016.
Past performance is not a reliable indicator of future results
| Year end | Dividends in respect of year (pence per share) | Cumulative dividends (pence per share) |
|---|---|---|
| 30/09/2025 | 4.00 | 172.80 |
| 30/09/2024 | 4.00 | 168.80 |
| 30/09/2023 | 4.50 | 164.80 |
| 30/09/2022 | 6.00 | 160.30 |
| 30/09/2021 | 6.50 | 154.30 |
| 30/09/2020 | 6.50 | 147.80 |
| 30/09/2019 | 6.50 | 141.30 |
| 30/09/2018 | 7.50 | 134.80 |
| 30/09/2017 | 7.50 | 127.30 |
| 30/09/2016 | 17.00 | 119.80 |
| 31/12/2015 | 7.50 | 102.80 |
| 31/12/2014 | 17.00 | 95.30 |
| 31/12/2013 | 7.50 | 78.30 |
| 31/12/2012 | 7.50 | 70.80 |
| 31/12/2011 | 7.50 | 63.30 |
| 31/12/2010 | 7.50 | 55.80 |
| 31/12/2009 | 7.50 | 48.30 |
| 31/12/2008 | 7.50 | 40.80 |
| 31/12/2007 | 7.50 | 33.30 |
| 31/12/2006 | 6.50 | 25.80 |
| 31/12/2005 | 5.50 | 19.30 |
| 31/12/2004 | 4.50 | 13.80 |
| 31/12/2003 | 4.20 | 9.30 |
| 31/12/2002 | 2.80 | 5.10 |
| 31/12/2001 | 2.30 | 2.30 |
Dividend payment history
Past performance is not a reliable indicator of future results
Show detailed payment history
| Ex-dividend date | Record date | Payment date | In respect of y/e | Type | Dividends paid per share (p) |
|---|---|---|---|---|---|
| 26/02/2026 | 27/02/2026 | 24/03/2026 | 30/09/2025 | Final | 2.25 |
| 07/08/2025 | 08/08/2025 | 08/09/2025 | 30/09/2025 | Interim | 1.75 |
| 13/02/2025 | 14/02/2025 | 17/03/2025 | 2.25 | ||
| 08/08/2024 | 09/08/2024 | 09/09/2024 | 1.75 | ||
| 08/02/2024 | 09/02/2024 | 08/03/2024 | 2.25 | ||
| 10/08/2023 | 11/08/2023 | 08/09/2023 | 2.25 | ||
| 02/02/2023 | 03/02/2023 | 03/03/2023 | 3.0 | ||
| 11/08/2022 | 12/08/2022 | 09/09/2022 | 3.0 | ||
| 03/02/2022 | 04/02/2022 | 04/03/2022 | 3.5 | ||
| 12/08/2021 | 13/08/2021 | 10/09/2021 | 3.0 | ||
| 04/02/2021 | 05/02/2021 | 05/03/2021 | 3.5 | ||
| 13/08/2020 | 14/08/2020 | 11/09/2020 | 3.0 | ||
| 06/02/2020 | 07/02/2020 | 06/03/2020 | 3.5 | ||
| 29/08/2019 | 30/08/2019 | 27/09/2019 | 3.0 | ||
| 07/02/2019 | 08/02/2019 | 08/03/2019 | 4.5 | ||
| 23/08/2018 | 24/08/2018 | 21/09/2018 | 3.0 | ||
| 04/01/2018 | 05/01/2018 | 02/02/2018 | 4.5 | ||
| 09/03/2017 | 10/03/2017 | 31/03/2017 | 3.0 | ||
| 01/09/2016 | 02/09/2016 | 30/09/2016 | 10 | ||
| 19/05/2016 | 20/05/2016 | 03/06/2016 | 7 | ||
| 03/12/2015 | 04/12/2015 | 18/12/2015 | 4.5 | ||
| 03/09/2015 | 04/09/2015 | 18/09/2015 | 3.0 | ||
| 04/12/2014 | 05/12/2014 | 19/12/2014 | 4.5 | ||
| 03/09/2014 | 05/09/2014 | 19/09/2014 | 4.5 | ||
| 19/02/2014 | 21/02/2014 | 07/03/2014 | 8.0 | ||
| 04/12/2013 | 06/12/2013 | 20/12/2013 | 4.5 | ||
| 04/09/2013 | 06/09/2013 | 20/09/2013 | 3.0 | ||
| 27/02/2013 | 01/03/2013 | 15/04/2013 | 4.5 | ||
| 05/09/2012 | 07/09/2012 | 21/09/2012 | 3.0 |
Annual General Meeting (AGM)
Baronsmead Second Venture Trust calendar of events
2026
February 2026 – Quarterly Factsheet to 31 December 2025
27 February 2026 – FY25 final dividend record date
19 March 2026 – Annual General Meeting
24 March 2026 – FY25 final dividend payment, subject to shareholder approval at the AGM on 19 March 2026
May/June 2026 – Announcement and posting of interim report for the six months to 31 March 2026
August 2026 – Quarterly factsheet to 30 June 2026
December 2026 – Announcement and posting of final results for year to 30 September 2026
How to invest?
How to invest
Prospective and current investors can invest in the Baronsmead VCTs by subscribing for shares when the Companies raise funds through new share issuance. Investors may also buy shares in the VCTs on the secondary market, but without the same tax benefits.
Investors can also access access more information about the shares and the company through the listed company (ticker: BVT)
To receive information about share offers please sign up using the form below:
Important information
Prospective investors should carefully consider the risks associated with this form of investment and seek advice from a qualified financial adviser. Investment in smaller unquoted companies involves a higher degree of risk than investment in larger companies. VCT shares are infrequently traded, so shares are often valued at a discount to their Net Asset Value and may be difficult to realise. Shareholders may be offered a price which is less than the full value of the underlying assets.
Annual Reports
Interim Reports
Sustainable investing policies
Fees and charges
Management and administration
Details of the management, administration, monitoring, arrangement and performance fees charged by Gresham House Asset Management Limited (the Manager or Gresham House) and co-investment arrangements are shown in the “Report of the Directors” section of the Company’s Annual Report and Accounts which are available in the “Annual Reports” section on this web site. A summary of the fees and charges is shown below.
Annual running costs
Annual running costs, including fees payable to Gresham House, Directors’ fees, professional fees and the costs incurred by each Company in the ordinary course of business (but excluding any performance fees payable to the Manager and irrecoverable VAT), are capped at 3.5% of the Company’s net assets, any excess being met by Gresham House by way of reduction in future management fees.
The Manager is paid an annual management fee equivalent to 2.5% of the Company’s net assets up to and including £209,658,860 and 2.0% of the amount by which the net assets exceed £209,658,860. This is paid quarterly in arrears.
The ongoing charges ratio as at 30 September 2025 was 2.6% (2024: 2.5%). This percentage is stated with reference to the average total shareholder funds over the last financial year.
Performance fees
A performance fee is payable to the Manager when the total return on net proceeds of the ordinary shares exceeds 8% per annum (simple) on net funds raised. The performance fee payable in any one year is capped at 5% of net assets.
To the extent that the total return exceeds the threshold, a performance fee (plus VAT) will be paid to the Manager of 10% of the excess. No performance fee was payable for the year to 30 September 2024.
Anti-Corruption and Bribery Policy
Baronsmead Second Venture Trust plc (the Company) Anti-Corruption and Bribery Policy
A zero-tolerance approach is taken by the Board of Baronsmead Second Venture Trust plc to bribery and corruption. The Board are committed to acting professionally, fairly and with integrity at all times. Accordingly it expressly prohibits any Director or associated persons, when acting on behalf of the Company, from accepting, soliciting, paying, offering or promising to pay, or authorising any payment, public or private, in the United Kingdom or abroad to secure any improper benefit for them self or for the Company.
Bribery is the accepting of gifts, money, hospitality or other favours in return for providing something of value to the briber. The purpose of this policy is to set out the rules that must be followed to ensure that no bribery occurs.
The Bribery Act 2010 contains two general offences covering the offering, promising or giving of a bribe and the requesting, agreeing to receive or accepting of a bribe. It also sets out two further offences which specifically address commercial bribery: one relating to the bribery of a foreign public official in order to obtain or retain business or an advantage in the conduct of business and one creating a new form of corporate liability which an organisation can commit by failing to prevent bribery of any of its employees, subsidiaries, agents or service providers or other associated persons (defined as a person who “performs services” for or on behalf of an organisation and may include employees, contractors, agents, service providers and subsidiaries) in an attempt to obtain or retain business or a business advantage both in the UK or internationally.
The Directors of Baronsmead Second Venture Trust plc recognise their responsibilities in ensuring that the Company has a robust policy to avoid such practices and to ensure compliance with its legal obligations. The Board has requested that it is informed immediately of any identified instances of bribery or corruption within any of its principal service providers. On an annual basis, principal service providers are required to confirm to the Company that an anti-bribery policy and adequate procedures are in place and report any identified instances of bribery or corruption and details of the corrective courses of action taken.
As part of a risk based approach, the Board has delegated to the Audit Committee, the task of carrying out an annual risk assessment on matters relating to bribery, involving due diligence enquiries in respect of persons who perform or will perform services for or on behalf of the Company, in order to mitigate identified risks.
The Audit Committee will review this policy and procedures at least annually and report back to the Board who will ensure that it is publicly available both on the Company’s website and also in its Annual Report & Accounts.
Dividend Reinvestment Plan
Baronsmead VCTs Privacy policy
Baronsmead VCTs complaints policy
Responsibilities of the Chairperson and Senior Independent Directors’
Terms of Reference for each Committee
Matters reserved for the Board
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