Open for investment
Puma Alpha VCT
Back UK businesses with strong commercial traction through a focused VCT strategy, giving you a route to growth and tax efficient returns.
Access UK scale‑ups and full VCT tax reliefs with an experienced manager
Three reasons to invest
Backing ambitious UK scale-ups
with proven market traction
We aim to support ambitious UK scale-ups with established market traction. By concentrating on businesses that have moved beyond the uncertain early stages, we mitigate the risks and volatility often associated with start-ups
Established VCT manager
with 15 VCTs launched
Since 2005, 15 Puma VCTs have been launched, raising over £475 million. As a series, the Puma VCTs have invested into more than 60 qualifying companies and achieved over 40 full exits
Enhancing the shareholder
experience beyond returns
We aim to provide first-class support, enhancing the experience well beyond investment returns and tax relief. We offer 50+ support staff, 24/7 online access to investments via the Puma Portal and a share buyback policy
What tax reliefs will I get?
Income Tax
relief
You can claim up to 20% Income Tax relief when you buy newly issued shares in a VCT, up to £200,000 per tax year2. To qualify, your shares must be held for at least five years. The relief in non-refundable and cannot exceed the investors' total Income Tax liability
Tax free
dividends
Dividends are 100% tax-free and do not need to be reported on your tax return. This is beneficial for higher-rate taxpayers, who could otherwise pay up to 39.95% in dividend tax. VCTs offer a smart way to earn tax-free income beyond the £500 dividend allowance in 2025/26
Capital Gains
Tax
The profits made from selling VCT shares are exempt from Capital Gains Tax (CGT), as long as the shares are in an approved VCT and were acquired for genuine investment purposes. This valuable tax-efficient exemption applies to investments of up to £200,000 per tax year
2 Investments made on or after 6 April 2026 investors will be able to claim up to 20% Income Tax relief on VCT investments up to £200,000 each tax year.
Tax reliefs are not guaranteed, depend on individuals’ personal circumstances and a five-year minimum holding period, and may be subject to change.
Explore our portfolio of investments
Upcoming Share Buyback
The Share Buyback Policy allows Shareholders who have held their shares for five years or more, to sell their shares back to the VCT at a discount of 5% to the latest published NAV.2
Deadline to dematerialise certificated shares – 22 July 2026
Deadline for sale order to be submitted by – 28 July 2026
Proposed buyback date – 29 July 2026
Enhancing the shareholder experience
Shareholder information
Stay informed with the latest updates, including regulatory announcements, financial reports and shareholder meeting results
Loyalty discount
Existing shareholders have an exclusive 1% loyalty discount on the initial fee when they make additional investments in Puma VCTs
A simple way to sell shares
Shareholders who have held shares for five years, or more, can request to sell them back to the VCT at a 5% discount to the latest published NAV
Reinvesting dividends
Help grow your investment by reinvesting cash dividends back into new Puma Alpha VCT shares
FAQs
We're here to support you
Sources
For all performance data: Puma Investments. Figures correct at 13 January 2025 and may be subject to rounding errors.
1Investments made on or after 6 April 2026 investors will be able to claim up to 20% Income Tax relief on VCT investments up to £200,000 each tax year.
2 Buybacks depend on regulations, market conditions, and the Company having sufficient funds and distributable cash reserves, and remain at the discretion of the Board.
Risk factors
An investment in Puma Alpha VCT carries risk and investors should always take independent advice. Individuals should only invest in Puma Alpha VCT on the basis of the prospectus which details the risks of the investment. Below are the key risks:
Tax reliefs: Tax reliefs are not guaranteed, depend on individuals’ personal circumstances and a five-year minimum holding period, and may be subject to change.
Liquidity: It is unlikely there will be a liquid market in the ordinary shares of Puma Alpha VCT and it may prove difficult for investors to realise their investment immediately or in full.
Capital at risk: An investment in Puma Alpha VCT involves a high degree of risk. Investors’ capital may be at risk.
General: Past performance of Puma Investments in relation to its other VCTs is no indication of future results. The payment of dividends is not guaranteed. Investors have no direct right of action against Puma Investments. The Financial Ombudsman Service/the Financial Services Compensation Scheme are not available.
Figures on this page are taken from Puma Investments and are correct as of 15 April 2026 unless stated otherwise.