Hargreave Hale AIM VCT
Applications open
Earlybird deadline: 12pm 27 February 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 Hargreave Hale AIM VCT
Hargreave Hale AIM VCT is an established venture capital trust investing in smaller companies and AIM-quoted investments, with a focus on identifying high-quality businesses with strong growth potential.
As of January 2026, the VCT holds 54 qualifying companies across public and private markets, with 17 investments held for over 10 years. Portfolio companies have weighted average revenues of £58 million and average profits of £4.3 million.
Key facts
Started in 2004.
£129.5mn total assets under management (December 2025).
Annual dividend target yield of 5% of the year-end net asset value, with potential for special dividends. This is not guaranteed.
Invests in around 54 UK smaller companies across a wide range of industries.
Raising £20mn with an over-allotment facility of up to a further £10mn.
Before applying you should read the offer document and key investor information document. These contain 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 £5,000, 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 of the ongoing charge. This is paid annually in bonus shares.
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 Hargreave Hale AIM VCT, Hargreaves Lansdown has not authorised or approved them and is not responsible for their accuracy.
Ready to invest?
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 Hargreave Hale AIM VCT
Gousto is a UK meal-kit retailer founded in 2012. It uses proprietary technology, including an AI-driven recipe recommendation engine, to optimise ingredient sourcing and delivery logistics.
Cohort provides advanced defence, security and communications solutions across markets including electronic warfare, sonar, satellite communications and cybersecurity. In 2025, it acquired Australian satellite communications company EM Solutions for £74m.
Qureight partners with leading biopharma companies, using AI to analyse cardiac and pulmonary medical images to enable more precise measurement of drug efficacy, lung function and disease progression.
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: | 3.5% |
| HL saving on the initial charge: | 1% |
| Net initial charge: | 2.5% |
| Ongoing charge: | 2.5% |
| Performance fee: | 0% |
Early bird offer: 1% discount to the initial charge for the first £10m of applications received by 12pm on 27 February 2026.
If you wish to sell your VCT shares, 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%) | £250.00 |
| Ongoing charge (2.5%) | £1,281.93 |
| Transaction costs | £36.22 |
| Incidental charges | £0.00 |
| Total charges over 5 years | £1,618.15 |
| Average annual charge | 3.15% |
| Illustrative 5-year value | £10,907.25 |
| 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 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 |
| Exit dealing charge | £0.00 | £0.00 | £0.00 | £0.00 | £50.00 | £50.00 |
| Investment charges | £501.49 | £257.43 | £263.51 | £269.73 | £276.00 | £1,568.15 |
| 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 |
| Ongoing charge (2.5%) | £244.58 | £250.35 | £256.27 | £262.32 | £268.41 | £1,281.93 |
| Transaction costs | £6.91 | £7.07 | £7.24 | £7.41 | £7.58 | £36.22 |
| Incidental charges | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 |
| Total charges over 5 years | £501.49 | £257.43 | £263.51 | £269.73 | £326.00 | £1,618.15 |
| Average annual charge | 5.08% | 2.55% | 2.55% | 2.55% | 3.01% | 3.15% |
| Illustrative 5-year value | £9,980.31 | £10,216.06 | £10,457.38 | £10,704.40 | £10,907.25 | £10,907.25 |
| 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 |
The costs and charges shown are for illustration purposes only based on the assumptions presented. Total HL charges and 5 year HL charges also include a £50 exit dealing charge. Figures may not add up to the given total due to rounding.
Key documents
Make sure you’ve read these key documents. They cover in more detail the risks and investment strategy of this VCT.