Half-Yearly Report

Core Insights - The company, Octopus Future Generations VCT plc, focuses on investing in businesses that address significant societal challenges, providing investors with opportunities to participate in the growth of purpose-driven companies [1][2]. Financial Performance - The Net Asset Value (NAV) per share as of 30 June 2025 was 88.4p, reflecting a decrease of 0.4p per share (-0.5%) from 31 December 2024 [4][11]. - The company invested £4.5 million into five new and follow-on opportunities during the six-month period [5]. - The total net assets of the company stood at £52.6 million as of 30 June 2025 [11]. Fundraising Activities - An initial offer to raise up to £5 million was launched on 3 February 2025 and successfully closed on 1 April 2025 [6]. Dividend Declaration - A special dividend of 5.6p per share was declared on 22 August 2025, marking the company's first dividend payment [8][65]. Investment Strategy - The company aims to invest in businesses aligned with three key themes: revitalising healthcare, empowering people, and building a sustainable planet [7][16]. - As of 30 June 2025, the portfolio comprised 37 investments, with the following distribution: 19 in revitalising healthcare, 11 in empowering people, and 7 in building a sustainable planet [16]. Portfolio Performance - The NAV decline was attributed to downward valuation movements across 13 companies, which collectively decreased in value by £3.1 million [25]. - Conversely, 13 companies in the portfolio saw a collective increase in value of £3.2 million, indicating potential for growth despite economic challenges [26]. Compliance and Qualification - The company met the requirement for 80% of its funds to be invested in VCT-qualifying holdings by 30 June 2025, with 100% of the portfolio qualifying under HMRC rules [10][31]. Management and Team Changes - The company has committed to enhancing team resources to improve focus on driving returns and realisations from the existing portfolio [13].