London-based Octopus Apollo VCT has launched an offer for up to £100 million (£75 million plus a £25 million overallotment facility). The Venture Capital Trust (VCT) has total net assets of £523 million and a portfolio of around 45 companies.
Octopus Apollo invests in business-to-business (B2B) software companies, focusing on businesses that are at the more established end of the VCT spectrum with revenues of £2–£8 million a year. Over the five years to September 2025, the VCT has delivered a Net Asset Value (NAV) total return of 53.2%. The VCT targets an average annual dividend equal to 5% of NAV.
Nicholas Hyett, Investment Manager at Wealth Club, said, “Octopus Apollo’s portfolio of B2B software companies is, by VCT standards, dull. B2B companies benefit from large, hopefully reliable, corporate customers. Software is an inherently cash generative business, since once the product’s built it can be sold again and again with very little additional cost per customer. By targeting more established companies that are already making £2 million a year or more in revenues the manager hopes to invest after product-market fit has been achieved and the business has been substantially derisked.”
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