Albion Technology & General VCT Announces £15m Primary Fundraise with £10m Over-Allotment, Albion VCTs Target Up to £60m for 2026/27 Tax Year

Albion VCTs Confirm £40 Million Prospectus Top-Up Offers with Potential to Expand to £60 Million for 2026/27 Tax Year

Albion Crown VCT PLC, Albion Enterprise VCT PLC, and Albion Technology & General VCT PLC have confirmed their intention to raise up to £40 million collectively through prospectus top-up offers of new ordinary shares, with over-allotment options that could increase total fundraising to £60 million before issue costs. This announcement on 16 July 2026 updates the initial plan disclosed on 19 June 2026, providing investors with clearer insight into the scale and timing of the capital raise.

Managed by AlbionVC LLP, these VCTs invest primarily in UK-based technology and growth companies, adhering to HM Revenue & Customs qualifying criteria. As closed-ended investment companies listed on the London Stock Exchange, they offer tax-efficient investment opportunities including income tax relief on subscriptions. The prospectus top-up offer mechanism enables these established VCTs to inject fresh capital into their portfolios while maintaining continuity for existing and new shareholders.

Albion Technology & General VCT Sets £15 Million Primary Raise with £10 Million Over-Allotment Facility

Within the coordinated fundraise, Albion Technology & General VCT PLC (AATG) targets up to £15 million from its offer, with an additional discretionary over-allotment facility of £10 million. This allows for a potential total raise of £25 million before issue expenses, contingent on board approval and investor demand. The over-allotment facility is a standard feature providing flexibility to accommodate excess subscription interest without committing to a larger initial offer size.

While the announcement does not disclose specific deployment plans or projected net asset value impacts, these details are expected in the full prospectus scheduled for publication in August 2026.

Albion Crown VCT and Albion Enterprise VCT Offer Sizes and Over-Allotment Details

Albion Crown VCT PLC plans to raise £10 million with no over-allotment facility at this stage, whereas Albion Enterprise VCT PLC targets £15 million with a £10 million over-allotment option, mirroring Albion Technology & General VCT’s structure. Together, these offers constitute a £40 million primary raise, expandable to £60 million if over-allotment facilities are fully exercised.

The absence of an over-allotment facility for Albion Crown VCT may reflect differences in investment capacity or board assessment of demand. Further details will be available upon prospectus release.

Regulatory Approval Pending; Prospectus to Be Published in August 2026

The Companies initially announced their intention to proceed with the offers on 19 June 2026, subject to regulatory approval. The 16 July 2026 update confirms offer sizes but does not state that approval has been granted. The full prospectus is expected in August 2026 and will be accessible via the AlbionVC LLP website (www.albion.vc) and the FCA's National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism), the official UK repository for regulated disclosure documents.

Subscription Applications Expected to Open in September 2026

Following the prospectus publication, share applications are anticipated to commence in September 2026. This timeline allows investors adequate opportunity to review the prospectus, seek advice, and prepare subscriptions ahead of the 2026/2027 tax year, which runs from 6 April 2026 to 5 April 2027. Subscriptions made within this period qualify for income tax relief of up to 30% on investments up to £200,000, subject to HMRC conditions and a minimum five-year holding period.

AlbionVC LLP’s Management and Investment Focus

All three VCTs are managed by AlbionVC LLP, a London-based venture capital manager specialising in technology and general growth companies in the UK. This shared management enables coordinated fundraising and capital deployment across a broad range of qualifying investee businesses. For further information, investors can contact Vikash Hansrani, Operations Partner at AlbionVC LLP, via telephone at 020 7601 1850.

Albion Technology & General VCT focuses on technology and general growth sectors, aligning with investor interest in high-growth areas but also exposing the portfolio to risks typical of early-stage technology investments, including capital loss and illiquidity.

Legal Entity Identifier and Regulatory Compliance

The Companies’ Legal Entity Identifier (LEI) code is 213800TKJUY376H3KN16, confirming their regulatory standing within UK and European financial markets frameworks. The inclusion of the LEI and the filing of the prospectus with the FCA’s National Storage Mechanism provide assurance that the fundraise is conducted through formal, regulated channels. Regulatory approval remains a prerequisite before the offers proceed on the proposed terms.

Risks for Investors in Albion Technology & General VCT’s Top-Up Offer

Prospective investors should consider the inherent risks of VCT investments, including exposure to small and early-stage companies with uncertain revenues and limited operating histories. The technology focus adds sector-specific risks related to market sentiment and competitive dynamics. Additionally, tax relief conditions require holding shares for at least five years, and liquidity in VCT shares may be limited. Detailed risk disclosures will be provided in the forthcoming prospectus.

Summary Timeline for Albion VCTs’ Prospectus Top-Up Offers

The fundraise timeline includes the initial announcement on 19 June 2026, an updated offer size confirmation on 16 July 2026, prospectus publication expected in August 2026, and applications opening in September 2026. No specific closing or allotment dates have been disclosed.

Investors should monitor the AlbionVC LLP website and the FCA’s National Storage Mechanism for the final prospectus and further updates.