Gresham House Income & Growth 2 VCT
Applications open
Next deadline: 9am 31 March 2026
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 Gresham House Income & Growth 2 VCT
The Gresham House Income & Growth 2 VCT, formerly Mobeus Income & Growth VCT invests in young, developing unquoted companies in the UK. The VCT is managed by Gresham House, an asset manager overseeing £10.7 billion.
Investments are generally structured as part loan and part equity in order to receive regular income, to generate capital gain upon sale and to reduce the risk of high exposure to equities.
Key Facts
Started in 2004 (as Matrix Income & Growth VCT)
The company changed its name to Mobeus Income & Growth VCT in 2012 and then to Gresham House Income and Growth 2 VCT in 2025
£119.22 total assets under management (September 2025)
Annual dividend target yield of 7% of the NAV. This is not guaranteed
Raising £32.5mn with an over-allotment facility of up to a further £15mn
Before applying you should read the prospectus and key information document. This contains helpful information about how the VCT works and is invested, but will also help you understand any further risks you should be aware of.
VCT offer details
Open to UK investors located and resident in the UK
Minimum application of £3,000, limited to 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.
Investors will qualify for a 0.5% annual rebate. This is accrued annually with bonus shares paid at the next available allotment date, when an offer for subscription is open.
The offer price will be established through the issue, relative to the NAV and discount.
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 offer document and any supplementary information issued by the VCT manager. The offer document and additional documents are provided by Gresham House Asset Management; Hargreaves Lansdown has not authorised or approved them and is not responsible for their accuracy.
Ready to apply
Make sure you’ve read these key documents. They cover in more detail the risks and investment strategy of this VCT.
Example companies held by Gresham House Income & Growth 2 VCT
Preservica is a UK-based software company that specialises in long-term digital storage. Its software helps organisations protect, manage and ensure long-term accessibility of digital records and content by keeping files readable and trustworthy over decades.
Ozone Financial Technology Limited is a UK-based fintech company that develops open banking and open finance technology, primarily through its Ozone API platform, which helps banks, financial institutions, regulators and market participants deliver compliant, secure and scalable open APIs for data sharing, payments and financial services.
MPB Group Limited is a UK-based e-commerce technology company that operates one of the world’s largest online platforms for buying, selling and trading used photography and videography equipment, including cameras, lenses and accessories.
To see more detail on how the VCT invests, including why they’ve chosen certain companies check the VCT prospectus.
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. Past performance is not a guide to the future.
Costs and charges
| VCT manager initial charge: | 3% |
| HL saving on the initial charge: | 0.5% |
| Net initial charge: | 2.5% |
| Ongoing charge: | 2.36% |
| Performance fee: | 15% |
If you wish to sell your VCT, telephone rates of commission will apply (1%, minimum £20, maximum £50).
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 prospectus and key information document.
Full breakdown of charges
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.
| Management charge | £0.00 |
| Entry dealing charge | £0.00 |
| Exit dealing charges | £50.00 |
| Stamp duty (N/A) | £0.00 |
| Net initial charge (2.5%) | £250 |
| Ongoing charge (2.36%) | £1,203.51 |
| Transaction costs | £61.71 |
| Incidental charges | £164.43 |
| Total charges over 5 years | £1,729.64 |
| Average annual charge | 3.38% |
| Illustrative 5-year value | £10,780.72 |
| Illustrative 5-year value with no charges applied | £12,762.82 |
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Total | |
| HL charges | £0.00 | £0.00 | £0.00 | £0.00 | £50.00 | £50.00 |
| Management charge | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 |
| Entry dealing charge | £0.00 | £0 | £0 | £0 | £0 | £0.00 |
| Exit dealing charges | £0 | £0 | £0 | £0 | £50.00 | £50.00 |
| Investment charges | £524.06 | £279.88 | £285.83 | £291.90 | £297.98 | £1,679.64 |
| Stamp duty (N/A) | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 |
| Net initial charge (2.5%) | £250.00 | £0.00 | £0.00 | £0.00 | £0.00 | £250.00 |
| Net ongoing charge (2.36%) | £230.71 | £235.61 | £240.61 | £245.73 | £250.85 | £1,203.51 |
| Incidental charges | £31.52 | £32.19 | £32.87 | £33.57 | £34.27 | £164.43 |
| Transaction costs | £11.83 | £12.08 | £12.34 | £12.60 | £12.86 | £61.71 |
| Total charges over 5 years | £524.06 | £279.88 | £285.83 | £291.90 | £347.98 | £1,729.64 |
| Average annual charge | 5.31% | 2.78% | 2.78% | 2.78% | 3.25% | 3.38% |
| Illustrative 5 year value | £9,957.15 | £10,168.70 | £10,384.75 | £10,605.39 | £10,780.72 | £10,780.72 |
| 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 |
Key documents
Make sure you’ve read these key documents. They cover in more detail the risks and investment strategy of this VCT.