ProVen VCT
Applications open
Tax year end deadline:
12pm 23 March 2025
Important information - Venture Capital Trusts (VCTs) invest in small, early-stage, unlisted companies and are considered high-risk investments. It’s difficult to access your money in the short term and their value can go down as well as up so you could get back less than you put in. VCTs are long-term investments and should only be a consideration for experienced investors with larger portfolios. We suggest they form a small part of a diversified portfolio. This isn’t personal advice, if you’re unsure if VCTs are right for you, please consider taking advice. Tax rules can change, and their benefits depend on your individual circumstances.
About ProVen VCT
Managed by Beringea since its inception, ProVen VCT and its sister fund ProVen Growth and Income VCT are two of the UK's largest and longest-standing Venture Capital Trusts.
It seeks to deliver returns by investing in growing companies that can scale successfully through to exit.
Key facts
- Launched in 2000.
- Annual dividend target yield of 5% of net asset value.
- Widely invested portfolio with over £174mn in assets under management in over 50 companies.
- Raising £30mn with an over-allotment facility of a further £10mn.
Before applying you should read the Securities Note, Registration Document, the Summary and Key Information Document. These documents contain helpful information about how the VCT works and is invested, but also will help you understand any further risks you should be aware of.
Ready to invest?
Make sure you’ve read these key documents. They cover in more detail the risks and investment strategy of this VCT.
ProVen VCT Summary Document ProVen VCT Registration Document ProVen VCT Securities Note ProVen VCT Brochure Key Information Document (KID) HL offer terms and conditions
VCT offer details
- Open to UK investors located and resident in the UK.
- Minimum application of £10,000, capped at a maximum of £200,000.
- You must hold an HL Fund and Share Account to apply, you can open one during the application process. It’s free to hold VCT shares in this account.
- HL dealing charge of £50 applies.
- Investors will qualify for a 0.35% rebate, this will be provided annually as bonus shares for 5 years.
- The offer price will be established through the issue.
- Shares are allocated in tranches by the VCT manager during the offer period. There may be a few weeks until your shares are allotted.
- Applications can close early and at short notice, especially if there is strong demand.
Any application in this VCT should be made on the basis of the Securities Note, the Registration Document and the Summary, which together comprise a prospectus. These documents are provided by Beringea LLP, Hargreaves Lansdown has not authorised or approved them and is not responsible for their accuracy.
Ready to invest?
Make sure you’ve read these key documents. They cover in more detail the risks and investment strategy of this VCT.
ProVen VCT Summary Document ProVen VCT Registration Document ProVen VCT Securities Note ProVen VCT Brochure Key Information Document (KID) HL offer terms and conditions
Example companies held by ProVen VCT
To see more detail on how the VCT invests, including why they’ve chosen certain companies check the VCT Registration Document and Brochure.
Past performance
You can view the past performance data of this VCT on our factsheet. You’ll need to return to this page to place a deal.
View ProVen VCT past performance
Costs and charges
Early bird discount (allocations now full): Further 0.3% discount to the initial charge for applications received by 28 February 2025.
Existing investor discount (allocations now full): Further 0.5% discount to the initial charge for applications received by 28 February 2025.
An HL dealing charge of £50 applies to purchases and sales.
Existing investors must hold their VCT shares in an HL Fund and Share Account to qualify for the discount.
Other incidental charges for buying and selling investments may apply. Details on this are available in the Registration Document and Key Information Document.
The following charges are based on an investment of £10,000 within a Fund and Share Account over 5 years assuming a 5% growth rate. We’ve used the initial charge including the HL saving, but no further discounts like early bird or existing investor discounts have been applied. The annual rebate is also not included.
Holders should also get income from the VCT, on which there's no charge from HL and so isn't included in these figures. The income you’ll receive isn't guaranteed and you could get back less than you invest.
£100
£1,593.76
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Total | |
|---|---|---|---|---|---|---|
| HL Charges | £50.00 | £0.00 | £0.00 | £0.00 | £50.00 | £100.00 |
| Management charge | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 |
| Entry dealing charge | £50.00 | £0.00 | £0.00 | £0.00 | £0.00 | £50.00 |
| Exit dealing charge | £0.00 | £0.00 | £0.00 | £0.00 | £50.00 | £50.00 |
| Investment charges | £545.52 | £252.90 | £258.93 | £265.10 | £271.31 | £1,593.76 |
| Stamp duty (N/A) | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 |
| Net initial charge (3%) | £298.50 | £0.00 | £0.00 | £0.00 | £0.00 | £298.50 |
| Ongoing charge (2.5%)) | £242.13 | £247.90 | £253.81 | £259.85 | £265.94 | £1,269.64 |
| Transaction costs | £2.93 | £3.00 | £3.07 | £3.15 | £3.22 | £15.38 |
| Incidental charges | £1.95 | £2.00 | £2.05 | £2.10 | £2.15 | £10.25 |
| Total charges over 5 years | £595.52 | £252.90 | £258.93 | £265.10 | £321.31 | £1,693.76 |
| Average annual charge | 6.09% | 2.53% | 2.53% | 2.53% | 2.99% | 3.33% |
| Illustrative 5-year value | £9,881.46 | £10,116.89 | £10,357.94 | £10,604.73 | £10,807.40 | £10,807.40 |
| Illustrative 5-year value with no charges applied | £10,500.00 | £11,025.00 | £11,576.25 | £12,155.06 | £12,762.82 | £12,762.82 |