Hargreave Hale AIM VCT has launched a new fundraising offer of up to £30 million, made up of a £20m raise and a £10m overallotment.

The VCT currently has £129.5m in net assets and a portfolio of more than 54 companies, but said the prolonged decline in AIM valuations has pushed it into a more diversified mix of holdings including Marlborough-managed equity funds and blue chip bonds.

Over the five years to December 2025, the VCT delivered a NAV (net asset value) total return of -39.5%, while continuing to target an annual dividend equivalent to 5% of NAV.

Wealth Club’s Nicholas Hyett said the sell-off in AIM has damaged most AIM-focused VCTs, but argued it has also left Hargreave Hale with a lower-risk portfolio, with 17.6% in main market listed companies and 16.4% in blue chip bonds.