Molten Ventures VCT
Applications open
Next deadline: 9am 1 April 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 Molten Ventures VCT
The VCT invests in growth-focused UK and European technology and knowledge intensive companies, offering investors exposure to a mature portfolio and the tax advantages available to VCTs.
Key Facts
Started in 1998
£117.6mn total assets under management (September 2025)
Annual dividend target yield of 5% of the NAV. This is not guaranteed
Raising £10mn with an over-allotment facility of up to a further £20mn
Investors will receive a 2% initial rebate. This is paid as bonus shares
Please be aware, investors in Molten Ventures via HL will not be eligible for a separate ‘early-bird’ discount
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 £6,000, 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
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 Prospectus and any supplementary information issued by the VCT manager. The Prospectus and additional documents are provided by Molten Ventures; 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 Molten Ventures VCT
Thought Machine provides modern, ‘cloud native’ core banking software to replace existing, decades-old legacy systems and modernise financial institutions globally.
Riverlane is developing a key technology within the field of quantum computing to apply new approaches to tackle problems that are intractable for today’s computers.
Form3 was founded by industry veterans to revolutionise the handling of payments within the financial system via a real-time ‘account to account’ payment platform.
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: | 5.5% |
| HL saving on the initial charge: | 2.5% |
| Net initial charge: | 3.00% |
| Ongoing charge: | 2.50% |
| Performance fee: | 20% |
If you wish to sell your VCT, telephone rates of commission will apply (£29).
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 have been applied. The 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 | £178,69 |
| Entry dealing charge | £0.00 |
| Exit dealing charges | £29.00 |
| Stamp duty (N/A) | £0.00 |
| Net initial charge (3%) | £300.00 |
| Ongoing charge (2.5%) | £1,266.21 |
| Transaction costs | £0.00 |
| Incidental charges | £0.00 |
| Total charges over 5 years | £1,773.90 |
| Average annual charge | 3.49% |
| Illustrative 5-year value | £10,720.77 |
| Illustrative 5-year value with no charges applied | £12,762.82 |
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Total | |
| HL charges | £ 34.29 | £ 35.00 | £ 35.72 | £ 36.47 | £ 66.21 | £ 207.69 |
| Management charge | £ 34.29 | £ 35.00 | £ 35.72 | £ 36.47 | £ 37.21 | £ 178.69 |
| Entry dealing charge | £ - | £ - | £ - | £ - | £ - | £ - |
| Exit dealing charges | £ - | £ - | £ - | £ - | £ 29.00 | £ 29.00 |
| Investment charges | £ 542.95 | £ 248.00 | £ 253.15 | £ 258.40 | £ 263.71 | £ 1,566.21 |
| Stamp duty (N/A) | £ - | £ - | £ - | £ - | £ - | £ - |
| Net initial charge (3%) | £ 300.00 | £ - | £ - | £ - | £ - | £ 300.00 |
| Net ongoing charge (2.5%) | £ 242.95 | £ 248.00 | £ 253.15 | £ 258.40 | £ 263.71 | £ 1,266.21 |
| Incidental charges | £ - | £ - | £ - | £ - | £ - | £ - |
| Transaction costs | £ - | £ - | £ - | £ - | £ - | £ - |
| Total charges over 5 years | £ 577.24 | £ 282.99 | £ 288.87 | £ 294.87 | £ 329.92 | £ 1,773.90 |
| Average annual charge | 5.88% | 2.83% | 2.83% | 2.83% | 3.10% | 3.49% |
| Illustrative 5 year value | £ 9,901.41 | £ 10,107.01 | £ 10,316.88 | £ 10,531.10 | £ 10,720.77 | £ 10,720.77 |
| 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.