Offers for Subscription

Now open to applications

Now open to applications

Baronsmead Venture Trust plc and Baronsmead Second Venture Trust plc published a prospectus in relation to offers for subscription to raise up to £30 million in aggregate (before costs) with an over-allotment facility to raise up to a further £20 million in aggregate.

Baronsmead VCTs homepage

Online application facility

Key documents

    Offer details

    The Baronsmead Venture Trust plc and the Baronsmead Second Venture Trust plc 2024/2025 Offers opened to applications at 9am on Monday 13 January 2025. 

    A prospectus was published in relation to the offers for subscription to raise up to £30mn in aggregate (before costs) with an over-allotment facility to raise up to a further £20mn in aggregate for the Tax Year 2024/2025. The minimum investment per Company is £5,000. You can choose to invest in either or both VCTs.

    The board of Baronsmead Venture Trust plc have announced they intend to utilise the full Over-allotment Facility of up to £10 million in respect of the Company’s Offer, read the full RNS here >>

    Early Subscription Incentive – now closed

    The Investment Manager has agreed to discount the Offer Costs by 0.75 per cent for Existing Shareholders and by 0.5 per cent for New Investors in respect of Applications accepted (including receipt of cleared funds by the Receiving Agent), which represent the first £7.5 million of aggregate Application Amounts received by each Company.

    New shareholders 0.50% discount
    Existing shareholders 0.75% discount

    The Early subscription incentive is now closed. Therefore, the discounts set out under the Early Subscription Incentive will not apply to any further Applications received in relation to the Offers. 

    Application process

    The application deadline for the 2024/2025 tax year has now passed. Any applications, including those where funds have not been received before the deadline at 4pm on Wednesday 2 April 2025 will not be accepted.

    The Baronsmead VCTs are now open for applications for the new tax year 2025/2026.

    Investors may subscribe for New Shares online by completing the online application form. Investors may also apply using the interactive application form or the printable application form which are available for download in the key documents section.

    Existing Shareholders subscribing for New Shares should ensure that they insert their unique ten digit City Investor Number (CIN).

    All Applications will be processed on a “first come, first served” basis by the Receiving Agent.


    Funds raised as at 8 April 2025:

    Baronsmead Venture Trust plc (Over-allotment facility open)

    £0

    Total funds raised

    £0

    Target raise

    %

    Baronsmead Second Venture Trust plc

    £0

    Total funds raised

    £0

    Target raise

    %

    Each Company is a Venture Capital Trust (VCT). The venture capital trust investing regime was established by the UK Government with the intention of encouraging individuals to invest indirectly in a range of small, illiquid higher-risk trading companies whose shares and securities are not listed on a recognised stock exchange. An investment in a VCT is high risk and for the long term. Your capital is at risk so you could get back less than you invest. All tax reliefs are subject to individual circumstances and may be subject to change in the future. Capital at risk. 

    How to get in touch:

    For queries relating to the Companies, please contact baronsmeadvcts@greshamhouse.com

    For queries relating to the Investment Manager or Investment Management activities please contact info@greshamhouse.com

    For queries relating to applications and share certificates please contact registrars@city.uk.com

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    This document is for information only and is being provided by Gresham House Asset Management Ltd (FRN: 682776) to a limited number of persons of the kind described below in relation to the Company.

    This document has not been approved by a person authorised under the Financial Services and Markets Act 2000 (“FSMA”). Accordingly, this document is directed solely at persons who have professional experience in matters relating to investments being persons who fall within Article 19(5) of the FSMA (Financial Promotion) Order 2005 (as amended). This document is being supplied to you in your capacity as an expert (in order to assist you to formulate your advice to your clients). It is not intended that this document be distributed or passed on, directly or indirectly, to any other class of person and in any event and under no circumstances should persons of any other description rely on or act upon its contents. It must not be reproduced by, further distributed or published (in whole or part) by you or any other person. In particular this document has not been designed for retail investors. Gresham House does not take responsibility for your compliance with the rules of the Financial Conduct Authority concerning communications to retail clients. If you wish to communicate any information about the Company to a retail investor, you are responsible for ensuring such information is suitable for consumption by them.

    This document is an advertisement, not a prospectus or listing particulars, does not contain any representation or warranty as to its accuracy or completeness and does not constitute an offer or invitation to subscribe, underwrite or purchase any securities, or the solicitation of any offer or invitation to subscribe, underwrite or purchase any securities, nor shall it or any part of it form the basis of or be relied upon in connection with any offer to subscribe, underwrite or purchase any securities nor in connection with any contract therefor. Investors should not subscribe for any shares in the Company under the Offer except on the basis of the information contained in the Prospectus.

    Tax related and legislative risks

    The current VCT tax reliefs may change during the time the shares are held and can be retrospective. The value of the tax reliefs depends on the personal circumstances of the investors, who should consult their own tax advisers before making an investment. There can be no guarantee that the Company will retain full VCT status which could lead to adverse tax consequences for investors, including a requirement to pay the 30% income tax relief.

    Gresham House does not give investment advice. If you are in any doubt about whether investment in the Offers is suitable for you and wish to obtain advice, please contact an authorised financial adviser.