UK’s longest-standing VCTs with a growth investing focus marking 25th anniversary

Beringea’s UK funds - ProVen VCT and ProVen Growth and Income VCT, together the ProVen VCTs – have announced the launch of a new combined offer for subscription for the 2025/26 and 2026/27 tax years. The offer will seek to raise up to £15 million for each company through the issue of new ordinary shares, with over-allotment facilities of up to an additional £5 million for each VCT.

The ProVen VCTs are the UK’s longest-standing VCTs with a focus on growth investing. In April 2025, ProVen VCT celebrated its 25th anniversary, with ProVen Growth and Income VCT set to mark the same milestone in 2026. The funds have been managed since 2000 by Beringea, a transatlantic investment firm with more than $900m under management.

Over the past 25 years, the ProVen VCTs have invested more than £440 million into more than 130 growth companies, while growing from an initial fundraise of around £30 million to more than ten times that size today.

In the past year, the funds have completed a successful exit from Lupa Foods that delivered a 5.2x cash-on-cash return over the course of the investment. New investments were also made into Limitless Travel, a pioneer in accessible tourism, and VRAI, which is redefining simulation-based training through performance analytics. The funds also provided further funding to Farmer J, the casual dining chain, as it raised a £17.5m growth round to enable its roll-out in the US.

Stuart Veale, Managing Partner of Beringea, commented: “This combined offer marks the 25th anniversary of the ProVen VCTs, which have the longest-standing focus on growth investing of any VCTs in the UK. Over a quarter of a century, the ProVen VCTs have backed entrepreneurs building ambitious, capital-efficient businesses and have played a consistent role in supporting the UK’s scale-up ecosystem. This latest offer will enable us to continue providing long-term growth capital to the next generation of high-potential companies.”