the required minimum holding period was also increased to 5 years, the amounts raised by VCTs in the tax year did not exceed £500million for a decade. In 2018/19, when £731 million was raised, the trust that raised the largest total was Octopus Titan VCT, which reached £227.7 million, a record for a VCT share offer. In 2019/20, the amount invested in VCTs dropped to £619million during a year in which the UK left the European Union and the COVID-19 pandemic caused widespread interruption to business in the UK. In 2020/21 £685million was raised, 11% higher than the previous year, although the overall capacity of VCT share offers was 7.5% lower, reflecting uncertainty over the economic impact of the Covid-19 pandemic. In 2021/22 a new high of £1.13billion was raised, of which £170 million by AIM VCTs, also the highest on record. The year was notable for fast selling offers including Mobeus VCTs, which raised £35 million within a day of opening. The amounts raised since income tax relief was set at 30 per cent are as follows: See also Business development company Collective investment scheme Enterprise investment scheme Investment trust Publicly traded private equity References External links "AIC places Octopus VCT atop fundraising chart" Investment Week 2010-05-03 "Tax breaks make venture capital trusts tempting" The Independent on Sunday 2010-09-26 "How to save 30% on your tax bill without spending a penny" The Daily Telegraph 2019-02-28 "Save tax and back small firms", MoneyWeek 2022-03-26 Investment funds Private equity Venture capital Investment in the United Kingdom