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PitchBook Analyst Note: Venture Capital Trusts Overview

Q1 2021

PitchBook Analyst Note: Venture Capital Trusts Overview

March 10, 2021

PitchBook Analyst Note: Venture Capital Trusts Overview
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Retail investors are embracing VC in the UK

Venture capital is no longer just for the venture capitalists. The past decade has brought the proliferation of nontraditional investors getting in on the action, with everyone from corporate VC investors to sovereign wealth funds displaying a new level of interest in startups.

In the UK, retail investors have also become an increasingly important part of the venture ecosystem through their involvement in venture capital trusts, or VCTs. Our latest analyst note offers a detailed overview of these VCTs and the role they play, with key takeaways including:
 
  • VCTs are publicly listed funds that typically hold a portfolio of 20-plus startups in the UK
 
  • Capital raised by VCTs has increased the past three years but still lags behind overall VC fundraising in the UK
 
  • VCTs could benefit from an overall uptick in attention on VC as a strategy